Build-able for up to 22 units, in a great rental area and prime Pompano location (east of I-95) at an unbeatable price!
Build either 22 residential units, 22 commercial units, or a combination of the two! Each floor can either be residential or commercial.
Build up to 55 feet; thats 5 stories!
You even have the option, per city code, to make the first floor a business(or multiple businesses) with residential and/or commercial units on upper floors.
This HUGE corner lot stretches the whole block from NW 6th Street to NW 6th Court!
As far as what types of businesses can be built, your options include, but are not limited to: retial sales, restaurant, community center, daycare, school, medical or dental clinic/lab, public square or plaza, place of worship, veterinary hospital/clinic, employment agency, theater, bowling alley, skating rink, amusement center, bar/lounge, nightclub, dry-cleaning or laundry establishment, grocery store, personal/household good repair establishment, tattoo/body piercing establishment, convenience store, drug store/pharmacy, hotel/motel, and much more!
A few blocks north east of the Atlantic Blvd exit of I-95, this lot is within a 60 second drive from all of life's necessities: schools, multiple houses of worship, gas stations, restaurants, shopping, parks, automotive stores, & more! With i-95 just a few blocks to the west, this property provides virtually instantaneous access to where ever it is that you need to go.
There is an identically zoned vacant lot directly across the street currently for sale on the MLS. This lot is just 8,055 square feet and they are asking $55,000(see pictures). With such a small lot, you are very limited to how many units you can build; you are also very limited with what type of structures and businesses you can build as well.
There is another commercial lot, just blocks away on Hammondville Rd and NW 8th Ave, that recently sold at asking price for $2,500,000(see pictures)! This recently sold lot is 250,628 square feet; if you do the math, that breaks down to $9.97 per square foot. Based on that price per square foot, we should be asking $273,500 for 395 Nw 6th Street!
In this area, 2 bed/1 bath units are renting for $1,000 per month! These are older buildings; tenants will pay more for brand new construction! And rents are continually rising!
This lot is priced for a quick sale and is $70,000+ under value based on the most comparable recently sold lot in the neighborhood!
This versatile piece of property is just waiting for the right investor/builder/landlord to turn it into a beautiful new multi-family residence(and/or businesses) and start collecting fat rent checks! Or just buy and hold and watch the market continue to rise!
Building permits in Broward County are at a 5 year high!
Take a drive by, see the potential, and tie it up while it's still available.