900 INTRACOASTAL DRIVE – DEVELOPMENT SITE

Joseph Thomas, Aik Aliferis and Aaron O’Connor of Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale 900 Intracoastal Drive, a proposed luxury condominium development site encompassing a 33,001 square foot (0.758 acre) waterfront lot in (East) Fort Lauderdale, Florida.

SUBJECT PROPERTY

900 Intracoastal Drive is currently a two-story, 16-unit cooperative built in 1956 with 200 linear feet along the Intracoastal Waterway.  It is anticipated that the property shall be redeveloped as a luxury condominium tower, in accordance with surrounding and future developments.

900 Intracoastal Drive is located in the RMH-60 zoning district within the City of Fort Lauderdale.  According to the city’s website, the “RMH-60 district is intended for high-rise, high-density multifamily residences and hotels.”  RMH-60 allows a maximum density of 60 residential units per net acre, 120 hotel rooms per net acre and 87 nursing home rooms per net acre.  Maximum height (by right) is 150 feet, although the zoning code states a developer may apply for a “conditional use permit for heights greater than one hundred fifty (150) feet, up to 300 feet.”  More information is available Section 2, pages 30-31 herein or at:

https://library.municode.com/fl/fort_lauderdale/codes/unified_land_development_code?nodeId=UNLADERE_CH47UNLADERE_ARTIIZODIRE_S47-5REZODIREOFZODI_S47-5.21LIPECOUSRMREHIRIMUHIDEDI

LOCATION

900 Intracoastal Drive is a redevelopment opportunity located along the Intracoastal Waterway just south of Sunrise Boulevard and east the Galleria Mall.  The location allows for easy access to Sunrise Boulevard, Federal Highway (US-1), and Fort Lauderdale Beach Boulevard (A1A).  The surrounding neighborhood consists primarily of single-family homes and condominium properties with an affluent average household income of $138,769 within 1-mile radius, according to Experian.

900 Intracoastal is within walking distance to numerous shopping, dining and retail attractions including the Galleria Mall (0.1 miles), Starbucks (0.3 miles) and Publix Supermarket at Galleria (0.4 miles).  Other notable points of interest include Coral Ridge Yacht Club (0.6 miles), Hugh Taylor Birch State Park (0.6 miles), the Bonnet House Museum and Gardens (0.7 miles), Fort Lauderdale Beach (0.8 miles), Holiday Park (1.9 miles), Flagler Village (2.4 miles) and Downtown Fort Lauderdale (3.2 miles).

There are numerous recent and future developments located in close proximity to 900 Intracoastal Drive (as referenced in Section 5, pages 46-49 herein).  The upcoming Ocean Park Hotel and Residences are slated to open in 2024 and will consist of an 11-story, 54 unit condominium and 12-story, 100 room hotel along the south side of Sunrise Boulevard, just east of the bridge over the Intracoastal Waterway.  The Aquablu Condominium, a 17-story building with 35 modern waterfront residences, was built directly north to 900 Intracoastal Drive in (2018).  Aquablu floor plans range from 2,500 to over 7,000 square feet with 10-foot ceilings and views of the Intracoastal Waterway and Atlantic Ocean.  Paramount Condominiums (2017) are comprised of 95 units and 24-7 concierge services, fitness center, pool, hot tub, yoga room and clubroom (1.0 miles).  The Four Seasons Hotel & Private Residences Fort Lauderdale offer 83 private residences ranging in size from 2 to 4 bedrooms with large outdoor terraces and view of the Atlantic Ocean, as well as 148 hotel rooms (1.2 miles).  The Wave on Bayshore was recently completed (2020) and features 18 luxury, non-waterfront residences from 900 – 3,500 square feet (1.4 miles).  The Tiffany House Condominium (2018) is a 12-story tower offering 129 residences including one, two, and three-bedroom condominiums and townhomes (1.5 miles).  ADAGIO Fort Lauderdale Beach (2019) is a waterfront luxury boutique style condominium offering 31 units with a private marina and rooftop pool (1.5 miles).  321 Water’s Edge (2020) consists of 23 waterfront residences with a personal wine locker for each residence and private marina (1.5 miles).  Auberge (2018) offers luxurious one to five bedroom oceanfront residences with terrace or balconies and a multitude of amenities (1.9 miles).

Nearby educational centers include Bayview Elementary School (0.8 miles), Sunrise Middle School (1.9 miles), Bennett Elementary School (1.9 miles), Virginia Shuman Elementary School (2.4 miles), Fort Lauderdale High School (3.0 miles) and Harbordale Elementary School (4.9 miles).  Area private schools include St. Anthony’s (2.4 miles), Cardinal Gibbons (3.9 miles), Bethany Christian School (4.3 miles), and Westminster Academy  (5.0 miles).

SUMMARY

900 Intracoastal Drive is being offered for sale unpriced, to be determined by the market.