2.38 Acre Lot with Plans in Place on University and Sterling in Davie!
5355 SW 76th Ave
2.38 acre (103,986 square feet) lot of commercial land just off of University Dr. and Stirling Rd.
Lot comes with a full set of plans for a 24 unit office condo building that were previously approved by the Town of Davie.
This tract was previously approved in 2007 by the Town of Davie for a Class A office condo building consisting of 24 units (27,192 sqft total). Plans are included in the sale ($125k money value and 9 months time value).
These plans utilize the property to its fullest potential, creating ample parking and lake front views for the office condo units
Today's market value for each brand new office condo unit in this location is $330,000, very conservatively.
These units could easily sell for much more than $330,000 on average, based on the current comps.
?If you go by price per square foot of the comps ($354.32 on average), this values the entire building at over $9.6M (Finished Interior Office Space). In this scenario, your profit would be well over $4,000,000+.
You could also opt to rent each of these units for $25 per square foot annually (conservative market value). That's $679,800 annual income.
Here is a smaller lot for sale, 5 minutes away, without any plans, for $2,000,000.
Other Permitted Uses: Bank, Bakery, Contractor Office, Light Fabrication, Laboratory, Mortuary, Motion Picture Studio, Radio/TV Station, Music/Art Studio, Wholesale.