Great piece of land in Pompano Beach, South Florida

[Jacques Wurms]

NW 6 Court Pompano Beach, FL 33060 Only: $229,900 Plus 3% commission.

Vacant Land - Folio #4842 35 14 0160 - 27,498 Sqft Lot

• 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 $40,000 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.

Sales Comps: $275K - $300K
Rental Comps: $1,000 - $1,100
Property Type: Multifamily 5+
Cash or Hard Money Only! Realtors Add Your Commission!