Lauderdale Lakes Land

Coldwell Banker Commercial Realty is pleased to announce the availability of a prime development opportunity in Lauderdale Lakes, Florida. Located at NW 37th Terrace, Lauderdale Lakes, FL 33311, this parcel encompasses approximately 111,837 square feet. The seller offers architectural plans for a proposed development of approximately 124 residential units, subject to f inal approval by the City of Lauderdale Lakes zoning department. The proposed unit mix includes seventy-five (75) one-bedroom units, forty (40) two-bedroom units, and ten (10) three-bedroom units. Currently, there are approximately 164 multifamily homes listed for sale in Fort Lauderdale, with a median listing price of $798,000. The average price per square foot for these properties is $379, with a median capitalization rate of 5%. Additionally, the average price per unit is approximately $285,000. Price Per Unit: $48,387.10 Maximum Residential Density: 25 dwelling units per net acre. The RMM-25 zoning district in Fort Lauderdale, Florida, is designated as "Residential Multifamily Mid-Rise/Medium High Density." This zoning classification is intended to accommodate mid-rise multifamily residences and tourist accommodations.For the RMM-25 zoning district, the specific maximum FAR is not explicitly stated in the available resources. However, in Fort Lauderdale, FAR is typically determined based on the proposed use and is subject to compatibility requirements with the surrounding neighborhood. Lauderdale Lakes offers strategic proximity to major highways like I-95 and Florida’s Turnpike, is just minutes from Fort Lauderdale-Hollywood International Airport, and is surrounded by growing economic activity—making it an ideal location for investors and developers seeking high-growth opportunities in South Florida Developers should consider building in the area due to: Rising Property Values – Increasing real estate prices signal demand and investment potential. Population Growth – A stable or growing population creates consistent housing demand. Affordability Gap – Limited housing supply at attainable price points presents an opportunity for new developments. Rental Demand – A significant portion of residents may prefer renting, making multifamily developments attractive. Economic Stability – Steady household income levels indicate purchasing power for homes, retail, and services. Developers should focus on housing solutions that align with income levels, ensuring affordability while maximizing returns. This steady increase in population signals a rising demand for housing, retail spaces, and essential services, making it an attractive market for developers and investors. Income Growth & Economic Impact: The average household income in Lauderdale Lakes is $74,617, indicating economic stability and consumer spending power. Income growth suggests an improving standard of living, supporting demand for higher-quality housing, retail centers, and amenities. The increasing income levels create opportunities for multifamily developments, mixed-use projects, and commercial investments to cater to a growing middle-income demographic. Why Developers Should Invest: Housing Demand – A growing population requires additional housing, increasing opportunities for new residential and mixed-use developments. Retail & Commercial Growth – Higher incomes drive spending, supporting retail, restaurants, and business expansion. Long-Term Investment Potential – With rising property values and economic growth, real estate investments in Lauderdale Lakes could offer strong returns. Developers should consider affordable housing solutions, rental communities, and commercial developments to meet the needs of the expanding population and capitalize on economic growth. Architectural drawings are available for the buyer upon requesting NDA.