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2.38 Acre Lot with Plans in Place on University and Sterling in Davie!



5355 SW 76th Ave

Davie, FL

  • 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.
  • Conditionally Permitted Uses: Agricultural, Health Club/Gym,Barber/Beauty, Bar/Lounge, Education, Farm, Florist, Hotel/Motel, Micro-Brewery, Self Storage, Nursery, Pharmacy, Printer, Restaurant, Retail, Residential (7 Homes), Vehicle Sales/Rental, Warehouse.
  • ?Simple Math (Rough Numbers):
  • Buy For: $1,400,000
  • Cost To Build (Previous Quote): $3,000,000 (White Walled Office Space)
  • Total Investment: $4,400,000
  • Sell For: $7,900,000 (Unfinished Interior Office Space)
  • Real Estate Commissions/Closing Costs: -$500,000
  • Total Profit: $3,000,000+



  • Sale Comps $7.9M - $9.6M
  • Rental Comps $55,000 - $60,000
  • Property Type Commercial
  • Location Davie, FL
  • Size 27192 sq. ft.
  • Bedrooms 0
  • Bathrooms 0
  • TAV 467.9K
  • Annual Taxes $9,236
  • Year Built n/a

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