Downtown Marketplace-Multi-Tenant Retail 2 Retail Properties Offered at $15,006,601 CAD in Fort Lauderdale, FL

Marcus & Millichap is pleased to present Downtown Marketplace, a notable retail asset located in the core of Fort Lauderdale at 250-290 North Federal Hwy. The property is strategically positioned between the rapidly evolving Flagler Village, Downtown, and the upscale Victoria Park neighborhoods of Fort Lauderdale, FL. The property is a fully occupied, multi-tenant retail center with 10,730 SF of gross leasable area on a .66-acre lot which has significant future development potential. A diverse mix of seven tenants creates synergy which ensures constant traffic flow, thus enhancing the investment value of the property.
Downtown Marketplace is in the core of the vibrant city of Fort Lauderdale, an upscale coastal city with 184,709 residents. The subject asset fronts on North Federal Highway (US1), which is the primary north/south corridor in eastern Fort Lauderdale with traffic counts exceeding 41,000 vehicles per day. In recent years, the adjacent Flagler Village district has rapidly evolved into a trendy, upscale urban village with high density residential towers, and chic urban retail spots opening throughout the neighborhood. Several large-scale projects are currently underway and will bring 3,500+ residential units and several notable retail projects to the immediate area. Noteworthy developments include the Naftali Group Towers, a prominent mixed-use project featuring 824 residential units & 10,000+ SF of retail, 901 North, which will include 797 residential units, 175,000 SF of retail, and a new hotel with 188 keys, & Flagler Village Complex, which is set to add 478 residential units, 15,000 SF of retail, and a modern parking garage with 600 spaces.
The subject property presents an opportunity for an investor to benefit from the rapidly evolving upscale neighborhood of Flagler Village, by owning a high-profile, fully leased, income producing retail asset prominently positioned on North Federal Highway. Additionally, due to the rapid growth in the area and favorable zoning which allows for vertical projects, the subject property also holds significant value as a future development site.