UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 26,808 sqft
Price per Sqft $298
MLS Listing ID A11943771
HOA Y/N No
Year Built 1984
Annual Tax Amount $76,000
Tax Year 2025
Lot Size 1.536 Acres
Property Sub-Type Mixed Use
Property Description
Cash-flowing Live Local redevelopment opportunity on North Dixie Highway (SR-811) in Pompano Beach.
±1.54 acres improved with 26,808 SF of existing retail/office buildings generating $570,000+ in annual income, while supporting a future ±140-unit residential development by-right under Florida's Live Local Act, subject to site plan approval.
In addition to redevelopment density, the asset offers near-term cap-rate compression through tenant upside. Current in-place rents average approximately $21/SF, materially below documented market leases in the $28–$32/SF range, providing a clear path to NOI growth through lease renewals and re-tenanting.
This is not a retail acquisition.
Developers are acquiring time, entitlement certainty, unit yield, and income growth. The property generates cash flow during the entitlement and planning phase, allowing the asset to pay for its own hold while value is enhanced on both the income and redevelopment fronts.
Location
State FL
County Broward
Area 3020
Exterior
Private Pool Yes
Others
Tax ID 484226210040
Acceptable Financing Cash, Conventional, Owner May Carry Second
Listing Terms Cash, Conventional, Owner May Carry Second
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11943771
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