Updated 2 months ago on .
Prime Development Opportunity | Downtown Fort Lauderdale | 1-Acre Assembled Site Inbo
1-Acre Assemblage | 3 Blocks off Las Olas Blvd | Across from New Federal Courthouse
Asking Price: $15,000,000
Lot Size: ~1 Acre (43,500 SF)
Price per SF: $344
Current Use: 3 fully-leased 4‑plexes (12 units) + parking lot
Zoning: RAC‑PRO – 6 stories by right, up to 12 stories with variance
Location: Downtown Fort Lauderdale, directly across from the newly constructed federal courthouse
The site comprises approximately one acre split between three aligned owners. On one half-acre, there are three fully leased 4-unit apartment buildings two owned by one party and the third by myself with both of us open to a buyout. The adjoining half-acre, currently operating as a parking lot, is owned separately by a third party who may be receptive to exploring a joint venture structure.
All three owners are aligned in marketing their properties collectively, creating flexibility for an investor or developer to acquire the full site. With flexible zoning and long-term upside, the opportunity may align not only with strategic development, but also offer a strong fit for clients within your network seeking well-located, high-potential assets in a rapidly growing urban corridor.
Zoned RAC-PRO, the site allows for up to 6 stories by right, with the potential to pursue a variance for up to 12 stories. This covered land opportunity may be particularly well-suited for firms seeking to blend near-term yield with long-term vertical development or joint venture execution in a core South Florida market.
Current Site Composition:
- Three 4-plex multifamily buildings – 12 total residential units
- Adjacent parking lot – included in assemblage
- 100% leased – income-producing with stable cash flow
- Ideal for holding during planning or entitlement phase
Offering Terms:
- Asking Price: $15 million
- Land Size: Approx. 43,500 SF (1 acre)
- Price per SF: $344
- Valuation: Competitively priced based on recent comps and current development momentum
Key Highlights:
- Premier Location: Downtown Fort Lauderdale, directly across from the newly constructed federal courthouse
- Zoning: RAC-PRO – permits 6 stories by right; potential to secure variance for up to 12 stories
- Assemblage Opportunity: All property owners are aligned and in agreement to sell
- Strategic Offering: Marketed to developers and investors who understand the value of covered land, urban infill, and development or JV structures
