Hallandale Beach Freestanding Office Building - US 1 ... · was recently completed. Only 2.6 miles...

Hallandale Beach FreestandingOffice Building - US 1 LocationPrice $1,700,000

Freestanding Office Building in desirable East Hallandale Beach, FL

A+++ US 1/Federal Hwy LocationOwner Financing Available

PERFECT BUILDING FOR THE SELECTIVE OWNER OCCUPANT 5,166 SF ON A LARGE 17 ,335 SF CORNER LOT CENTRAL RAC

ZONING - RAC CORRIDORHIGH TRAFFIC COUNT WITH OVER 80,000 CARS PER DAY

4151 Hollywood Blvd | Hollywood, FL 33020 | Phone: (954) 361-0000 | Fax: (954) 361-0070 | www.DeMarcoGroup.com

John DeMarco, CCIMBroker / Owner

9544531000

[email protected]

The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projections and analysis. The informationprovided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or other professional advice, consultation or service. The user of thissoftware should consult with a professional in the respective legal, accounting, tax or other professional area before making any decisions.

TABLE OF CONTENTSProperty Summary 3

Property Description 4

Property Photos 5

Site Plan 9

Recent Comparable sales 10

RECENT COMPARABLE SALES 11

RECENT COMPARABLE SALES 12

Capital market overview 13

Leasing 14

Lease Comparables 15

Aerial Map 21

Location Map 22

Hallandale Beach 23

Ft Lauderdale Int'l Airport 28

Detaled Demographics 29

Zoning Central RAC Corridor 31

Easement Agreement 36

PROPERTY SUMMARY

Property Summary

Price: $1,700,000

Property Type Freestanding Office

Building Size: 5,166 SF

Price per Sq.Ft 329 p/SF

Lot Size: 17,335 SF

Year Built 1975

Parking 20

Zoning RAC Corridor

Market Rental Rate $30 p/SF

Market Lease Type NNN

ProForma NOI $154,980

ProForma CAP Rate 9.12%

Property Overview

Fully builtout ready to occupy freestanding Office building This office isin overall excellent condition. Professionally designed interior works formost businesses. Floorplan includes 8 large private offices, 20 workstations, two conference rooms, break area, server room and storagerooms.

Location Overview

Strategically located directly on the Federal Hwy / US 1 with over80,000 cars per day. This property is located in Central RAC / RACCorridor zoning one of the most desirable high intensity & high densitycity zoning codes in South Florida. Also located within an OpportunityZone. There are several development projects nearby breaking ground,close proximity to Atlantic Village mixed use project with 200+residential units and over 50,000 SF of commercial space. Directly tothe South is Art Square a mixed use high rise building with 250+residential units and over 10,000 SF retail that was recently completed.Only 2.6 miles north of Aventura Mall, which is the highest grossingmalls in the US, 2 miles east of I95, and 1.8 miles to the beach makesthis an ideal location for any business.

Page 03

PROPERTY DESCRIPTION

425 N Federal Hwy, Hallandale Beach, Florida Great freestanding office building in desirable East Hallandale Beach Florida well situated directly on Federal Hwy / US 1.This property is excellent overall condition and truly movein ready. The interior has been professionally designed andtastefully builtout. The current floor plan will accommodate most businesses and consists of 8 large private offices, 20+work stations, two conference rooms, break area, server room, high speed data access, storage rooms and tech areas.Perfect building for a law firm, insurance office, architecturalengineering firm, real estate office, medical office, plasticsurgeon etc.

Strategically located directly on the Federal Hwy / US 1 with over 80,000 car per day. This property is located in CentralRAC / RAC Corridor zoning one of the most desirable high intensity & high density city zoning codes in South Florida.Property is also located within an Opportunity Zone. There are several large development projects nearby breaking ground,close proximity to Atlantic Village mixed use project with 200+ residential units and over 50,000 SF of commercial space.Directly to the South is Art Square a mixed use high rise building with 250+ residential units and over 10,000 SF retail thatwas recently completed. Only 2.6 miles north of Aventura Mall, which is the highest grossing malls in the US, only 2 mileseast of I95, and 1.8 miles to the beach and only 6.8 miles to Ft. Lauderdale International Airport.

Investors seeking strong returns can lease this property after closing. Fair market rent is $30 per SF NET or $154,980per year, which would yield an above market capitalization rate of 9.12% on a proforma basis.

Seller will consider owner financing with 25% down at 6% annual interest amortized over 15 years with a 3 year balloonto qualified buyers. Seller will also consider leasing back a portion of this property if desired.

Included in this package is an easement agreement with the property owner to the west. This easement will expire in theevent the easement holder developed the property to the west.

Please remember do not disturb the existing occupying business. All showings are by appointment only.

Page 04

PROPERTY PHOTOS Page 05

SITE PLAN Page 09

RECENT COMPARABLE SALES

21475214995 E Dixie Hwy Aventura FL 33180

Transaction Details

b Sale Date: 02/01/2019

b Property size: 3,400 SF

b Lot Size: 12,197 SF

b Property Type: Freestanding Office

b Sale Price: $1,700,000

b Price per SF: $500.00

b Zoning: MO

711715 SE 1st Ave Hallandale Beach FL 33009

Transaction Detailsb Sale Date: 03/03/2020

b Property Size: 4,000 SF





b Zoning: BG


1720017240 NE 19th Ave North Miami Beach FL 33162

Transaction Details

b Sale Date: 07/07/2019






b Zoning: RO

800 SE 4th Ave #714719 Hallandale Beach FL 33009

Transaction Details

b Sale Date: 06/30/2019




b Property Type: Office Condo

b Zoning: Office


320 Davie Blvd Fort Lauderdale FL 33315

Transaction Details

b Sale Date: 10/23/2019




b Sale Price: $775,000


b Zoning: ROC

1309 S Federal Hwy Fort Lauderdale FL 33316

Transaction Details

b Sale Date: 11/04/2019






b Zoning: B1

CAPITAL MARKET OVERVIEW

Capital Markets Overview

Investment Trends By Buyer & Seller Origin

LEASING

Deals by Gross Asking Rent

Vacancy & Market Rent Per SF

LEASE COMPARABLES

Aventura, FL 33180 - Aventura Submarket

2,441 SF Office Lease Signed Jun 2020 for $42.00 Full Service Gross (Asking)

20801 Biscayne Blvd - 3rd Floor Direct

1

Asking Rent: Start Date: Free Rent: Deal Type: Property Type:

Starting Rent: Term: Escalations: On Market: Building Area:

Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov:

Amenities:

Landlord:

Tenant SIC:

Lease Notes:

$42.00/FS Jul 2020 New Lease Office Class A

5 Years 22 Mos 79,595 SF

Partial Build… 1986/2005

After Hours HVAC Available, Corner Space, Emergency Lighting, Fully Carpeted, Kitchen, Reception

Renaissance Properties Corp.

ID# 174813571

Aventura, FL 33180 - Northeast Dade Submarket

810 SF Office Lease Signed Jun 2020 for $32.59 Modified Gross (Asking)

2648-2650 NE 188th St - 1st Floor Direct, Leased by BM2 REALTY

2




Amenities:

Landlord:

Tenant SIC:

Lease Notes:

$32.59/MG Jul 2020 New Lease Office Class B


1954/

BM2 REALTY

ID# 174655031


1,100 SF Office Lease Signed Jun 2020 for $33.00 Modified Gross (Asking)

2627 NE 203rd St - 2nd Floor Direct

3




Amenities:

Landlord:

Tenant SIC:

Lease Notes:

$33.00/MG Jul 2020 New Lease Office Class B


1986/

FIP Realty Services, LLC

ID# 174599301

Lease Comparables

Copyrighted report licensed to RE/MAX 5 Star Realty - 995182.Page 1Page 1

LEASE COMPARABLES


6,292 SF Office Lease Signed May 2020 for $30.00 Full Service Gross (Asking)

21550 Biscayne Blvd - 4th Floor Sublease

4




Amenities:

Landlord:

Tenant SIC:

Lease Notes:

$30.00/FS Jun 2020 New Lease Office Class A

13 Mos 29,621 SF

Mar 2013/

Inmobiliaria Brom

ID# 174184941

Hallandale Beach, FL 33009 - Hallandale Submarket

1,821 SF Office/Retail Lease Signed Apr 2020 for $30.00 Double Net (Asking)

750 N Federal Hwy - 3rd Floor Direct

5




Amenities:

Landlord:

Tenant SIC:

Lease Notes:

$30.00/NN May 2020 New Lease Office Class B

22 Mos 15,000 SF

Dec 2019/

Exposed Ceiling, High Ceilings, Private Restrooms

Avanti Way Realty

ID# 174001531


700 SF Office Lease Signed Apr 2020 for $35.00 Triple Net (Asking)

20200 W Dixie Hwy - 1st Floor Direct

6




Amenities:

Landlord:

Tenant SIC:

Lease Notes:

$35.00/NNN May 2020 New Lease Office Class B

1 Year 11 Mos 86,555 SF

Full Build-Out 2016/

Air Conditioning, Central Heating, High Ceilings, Natural Light, Raised Floor, Reception

ID# 173980181

Lease Comparables


LEASE COMPARABLES

Fort Lauderdale, FL 33316 - Downtown Fort Lauderdale Submarket

1,020 SF Office/Retail Lease Signed Mar 2020 for $35.29 Modified Gross (Asking)

1043-1049 SE 17th St - 1st Floor Direct

7




Amenities:

Landlord:

Tenant SIC:

Lease Notes:

$35.29/MG Apr 2020 New Lease Retail Class C


Partial Build… 1984/

Air Conditioning, High Ceilings, Natural Light, Private Restrooms

Lauderdale Properties, LLC

ID# 173451151

Miramar, FL 33025 - Southwest Broward Submarket

140 SF Office Lease Signed Mar 2020 for $45.00 Full Service Gross (Asking)

11820 Miramar Pky - 2nd Floor Coworking

8




Amenities:

Landlord:

Tenant SIC:

Lease Notes:

$45.00/FS Apr 2020 New Lease Office Class B

0 Mos 35,000 SF

2007/

After Hours HVAC Available, Air Conditioning, Conference Rooms, Corner Space, Fully Carpeted, Kitchen, Natural Light, Security System, Wi-Fi

Flamingo Commerce Ctr Ltd Ii

ID# 172944001


1,100 SF Office Lease Signed Feb 2020 for $34.90 Plus Electric (Asking)

2627 NE 203rd St - 2nd Floor Direct

9




Amenities:

Landlord:

Tenant SIC:

Lease Notes:

$34.90/+ELEC Mar 2020 New Lease Office Class B

14 Mos 38,500 SF

Partial Build… 1986/

FIP Realty Services, LLC

ID# 172640191

Lease Comparables


LEASE COMPARABLES

North Miami Beach, FL 33160 - Northeast Dade Submarket

500 SF Office Lease Signed Jan 2020 for $32.00 Modified Gross (Asking)

17800 W Dixie Hwy - 2nd Floor Direct

10




Amenities:

Landlord:

Tenant SIC:

Lease Notes:

$25.00-$32.00/MG Feb 2020 New Lease Retail Class B

1 Year 0 Mos 2,883 SF

Shell Space 1979/

Air Conditioning, Corner Space, Laboratory, Natural Light

Smith, Jose

ID# 171147141


3,306 SF Office/Medical Lease Signed Dec 2019 for $40.00 (Asking)

2925 Aventura Blvd - 1st Floor Direct

11




Amenities:

Landlord:

Tenant SIC:

Lease Notes:

$40.00 Jan 2020 New Lease Office Class B

8 Mos 32,832 SF

Full Build-Out 1983/

High Ceilings, Kitchen, Private Restrooms, Reception

Arnold Wax

ID# 170048411

Miami, FL 33180 - Northeast Dade Submarket

2,300 SF Office Lease Signed Dec 2019 for $30.00 Triple Net (Asking)

20750-20754 W Dixie Hwy - 1st Floor Direct

12




Amenities:

Landlord:

Tenant SIC:

Lease Notes:

$30.00/NNN Jan 2020 New Lease Office Class C


Jan 2023 Full Build-Out 1997/

Cooper Properties, LLC

ID# 169800341

Lease Comparables


LEASE COMPARABLES

Hollywood, FL 33021 - Hollywood Submarket

1,241 SF Office Lease Signed Nov 2019 for $30.46 Modified Gross (Starting)

4651 Sheridan St - 3rd Floor Direct

13




Amenities:

Landlord:

Tenant SIC:

Lease Notes:

$30.46/MG Nov 2019 New Lease Office Class A

$30.46/MG 5 Years 14 Mos 75,235 SF

1982/

ID# 169047671

Dania Beach, FL 33004 - Fort Lauderdale Submarket

4,402 SF Office Lease Signed Nov 2019 for $34.00 + Elec & Clean (Asking)

1855 Griffin Rd - 3rd Floor Direct

14




Amenities:

Landlord:

Tenant SIC:

Lease Notes:

$32.00-$34.00… Dec 2019 New Lease Office Class B


Dec 2022 1985/2012

Cohen Brothers Realty Corpora…

ID# 169001701

Pembroke Pines, FL 33024 - Hollywood Submarket

1,274 SF Office Lease Signed Nov 2019 for $37.93 (Asking)

10011-10031 Pines Blvd - 2nd Floor Direct

15




Amenities:

Landlord:

Tenant SIC:

Lease Notes:

$22.00-$37.93 Dec 2019 New Lease Office Class C

1 Year 13 Mos 41,672 SF

Dec 2020 Full Build-Out… 1986/

Air Conditioning, Kitchen, Private Restrooms

A & H Development Network Llc

ID# 168952611

Lease Comparables


LEASE COMPARABLES

RentsLease Comps Report

$35.01 $30.46 - -Gross Asking Rent Per SF Gross Starting Rent Per SF Gross Effective Rent Per SF Avg. Months Free Rent

DEALS BY GROSS ASKING, GROSS STARTING, AND GROSS EFFECTIVE RENT

DEALS BY MONTHS FREE RENTDEALS BY ASKING RENT DISCOUNT

6/25/2020Copyrighted report licensed to RE/MAX 5 Star Realty - 995182

Page 6

AERIAL MAP

LOCATION MAP

HALLANDALE BEACH , FLORIDA

Location of Hallandale Beach in Broward County Florida

Population:40,464

County:Broward

Area:4.62 sq mi (11.56 km2)

Median Household Income:Hallandale: $36,072Broward: $57,278

Median Property Value:Hallandale: $174,400Broward: $277,600

Median Age:Hallandale: 45.5Broward: 40.4

Climate:Subtropical; average rainfall: 62inches; average temperature:75.4°; winter mean temperature:66.5°; summer meantemperature: 84.2°

With a 2020 population of 40,464, it is the 74th largest city in Florida and the 968th largest city in the

United States. Hallandale Beach is currently growing at a rate of 0.65% annually and its population

has increased by 9.03% since the most recent census, which recorded a population of 37,113 in

2010. Spanning over 5 miles, Hallandale Beach has a population density of 9,603 people per square

mile.The average household income in Hallandale Beach is $56,882 with a poverty rate of 18.71%. The

median rental costs in recent years comes to $1,198 per month, and the median house value is $209,700.

The median age in Hallandale Beach is 45.2 years, 44.2 years for males, and 46.4 years for females. For

every 100 females there are 90.8 males.

DEMOGRAPHICS

ECONOMY

The economy of Hallandale Beach, FL - employs 18.3k people. The

largest industries in Hallandale Beach, FL are Retail Trade ,

Accommodation & Food Services , and Health Care & Social

Assistance, and the highest paying industries are Utilities , Public

Administration , and Finance & Insurance.Median household

income in Hallandale Beach, FL is $36,072.

OUR LOCATIONHallandale Beach is conveniently located between Fort Lauderdale and Miami, next to Aventura, with access

to the Fort Lauderdale / Hollywood and Miami International airports, Port Everglades, Port of Miami, and I-95.

Visitors, as well as residents, can enjoy beautiful beaches, exciting par-mutual wagering, and comfortable

hotels. Hallandale Beach offers a wide choice of sporting activities year-round, including tennis, golf,

swimming, boating, and saltwater fishing. Evenings offer a choice of fine or casual dining and nightclub

entertainment for all ages from ballroom dancing to rock'n roll. Merchandise of every kind can be found in

shopping centers, individual boutiques and malls, conveniently located throughout the city.

GULFSTREAM PARK AND CASINOFor decades, casinos were the exclusive realm of adults

and offered little or nothing in the way of family-friendly

activities, but that’s no longer the case. Though Gulfstream

Park and Casino have hundreds of slot machines, a swanky

poker room, and a high-action horse track, it also features

live entertainment and great food that draw families with

children, especially when the weather isn’t conducive to

outdoor activities.

BF JAMES PARKConveniently located on NW 1st Avenue in downtown

Hallandale Beach, BF James Park has recently undergone a

number of renovations and now includes a playground,

basketball courts, and a swimming pool.The cost of

admission is relatively inexpensive, and for those who’ll be

in the area for a while, season passes are available.The

pool is open daily from 11 AM to 4:45 PM and a number of

aquatic programs are offered throughout the year.The park

is within walking distance of several hotels, and the

outdoor grounds are a great place for a morning or

afternoon stroll.

ENCHANTED FOREST PARK

EVERGLADES HOLIDAY PARKEverglades Holiday Park is one of South Florida’s premier

attractions and is particularly well-known for its airboat

tours and alligator shows.For those interested in

exploring the glades and swamps that make up much of

the area’s habitat, there’s no better way to do it than by

airboat.They’re loud, exhilarating, and get guests up

close and personal with lots of swamp critters, like

turtles, snakes, birds, and gators.

Many visitors who spend time in Enchanted Forest Park think

of it as more of a movie setting than an actual place.The

park is t an easily accessible oasis of natural splendor in an

otherwise chaotic area.The park is comprised of more than

20 acres that are filled with treed areas, a creek, and

several paved, well-marked trails.Enchanted Forest Park is a

great place for a quiet stroll or an afternoon picnic. For

those looking for something extra special, there’s a pony

riding facility for the little ones.

UPCOMING DEVELOPMENTS

The Project consists of an expansion of the existingHotel and Country Club to include three hotel towerswith a total of 938 new hotel rooms (keys) andapproximately 70,960 square feet of proposedaccessory hotel uses excluding the existing 60 roomhotel, meeting rooms, conference rooms, and spa.Building 100, a 30 story residential tower with 250 unitsis also proposed. The project also includes renovationsof the golf course.

Project consists of two phase: Phase 1: A 2- storycommercial center with 31,144 sq ft of retail and officespace. Phase 2: Consists of three commercialbuildings (a 2-story building, 6-story building, and 1-story building) with a 37,684 sq ft commercial centerfor retail businesses, restaurants and office use. Theproject was administratively approved. (Phase I onMay 18, 2016 and Phase 2 on June 19, 2018). Phase 1 ofthe project is completed. Phase 2 is underconstruction.

Diplomat Golf Course

Village At Atlantic Shores

The Project was approved by the Planning and ZoningBoard on a Variance application request. A building

permit application has been filed and is underreview.xProject consists of redeveloping the existing

Golden Isles Park and Tennis Facility with new tenniscourts, a 3,500 square foot tennis center building,

restrooms, dog park and other amenities similar to theexisting facilities on the property.

The project was approved by the City Commissionon February 19, 2020. Submittal of building permit

is pending Project consists of approximately 26,530square feet of commercial, retail, office space, and

89 residential units. 362 parking spaces will beprovided, which will serve both the residential and

commercial components and provide for publicparking.

Golden Isles Park & TennisFacility

Hallandale City Center

UPCOMING DEVELOPMENTS

This Project consists of the redevelopment of theexisting Bluesten Park as a new, expanded 6-acrepark with a new community center, pool facilities,ball fields, court areas and other amenities. Cost of

construction is approximately $24 Million. TheProject was approved by City Commission on May 17,

2017. The project is completed.

Artsquare is a mixed use project consisting of 268multifamily mid-rise units including 8 live/work units in

6 to 7 story buildings, 90 garden apartments in 3 storybuildings, a 2-level parking structure with surface

parking, residential amenities, and 12,755 square feet ofcommercial space. The Project was approved by City

Commission on March 15, 2015. The construction of theproject is completed.. Cost of Construction is

approximately $50 Million

Bluesten Park

ArtSquare in Hallandale

Project consists of 20 townhome units inclusiveof (8) three-bedroom units on the northernproperty and (12) three-bedroom units on thesouthern side of the project (located on 2 parcels:901-925 & 920 SW 9th Street). Cost ofConstruction is approximately $ 4,228,700. TheProject was approved by City Commission onFebruary 6, 2019. Building permit has been filedand is under review. The project is underconstruction.

Project consists of a 25,022 square feet school(pre-k thru 5th grade) with classrooms,administration, office, cafeteria and open playarea for 288 students. Cost of Construction isapproximately $3 Million. The Project wasapproved by City Commission on August 1,2018. The project is under construction.

Hallandale Beach Townhomes

David Posnack School

Broward County's Fort Lauderdale-Hollywood International Airport (FLL) and North Perry Airport (NPA), a

general aviation airport, form a diverse and dynamic airport system. This airport system serves

the needs of 29.2 million passengers and the general aviation community throughout South Florida.

FLL is ranked 21st in the U.S. in total passenger traffic and 13th in domestic origin and destination

passengers. There are more than 325 departures and 325 arrival flights a day. FLL offers nonstop

service to 140 U.S. cities and flights to Canada, Bahamas, Caribbean, Mexico, Latin America, and

Europe. FLL averages 640 commercial flights per day on 26 airlines. There are also 100 private flights.

Each day an average of 80,000 travelers pass through the four terminals at FLL.

Exotic cruise vacations and international trade are what makes Port Everglades an economic powerhouse for

Broward County and one of the most diverse seaports in the United States.Located In the heart of Greater Fort

Lauderdale and the City of Hollywood, FL, Port Everglades is one of the busiest cruise ports in the world. It is a

leading container port in Florida and among the most active cargo ports in the United States. And, Port

Everglades is South Florida’s main seaport for receiving petroleum products including, gasoline and jet fuel. A

foreign-trade zone and available office space inside the Port's secure area make Port Everglades a highly

desirable business center for world trade.The Port Everglades Department is a self-supporting Enterprise Fund of

Broward County government. It does not rely on local tax dollars for operations or capital improvements.The total

value of economic activity at Port Everglades is nearly $34 billion. And, 231,579 Florida jobs are impacted by the

Port, including 13,127 people who work for companies that provide direct services to Port Everglades.

Port Everglades

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Ft Lauderdale International Airport

DETALED DEMOGRAPHICS

Population 1 Mile 3 Miles 5 Miles

Male 10,680 74,964 167,103

Female 11,461 82,025 184,431

Total Population 22,141 156,989 351,534

Housing 1 Mile 3 Miles 5 Miles

Total Units 14,512 100,705 198,078

Occupied 10,960 72,891 151,432

Owner Occupied 5,697 42,940 89,701

Renter Occupied 5,263 29,951 61,731

Vacant 3,552 27,814 46,646

Race 1 Mile 3 Miles 5 Miles

White 14,540 121,226 235,018

Black 6,272 26,516 93,736

Am In/AK Nat N/A 41 89

Hawaiian 1 2 12

Hispanic 7,096 50,335 112,810

MultiRacial 2,512 16,148 38,250

DETALED DEMOGRAPHICS

Age 1 Mile 3 Miles 5 Miles

Ages 04 987 6,814 16,980

Ages 59 1,233 8,683 21,666

Ages 1014 1,126 8,098 20,354

Ages 1519 1,067 7,553 19,386

Ages 2024 1,098 7,484 19,202

Ages 2529 1,110 7,612 19,068

Ages 3034 1,197 8,177 19,656

Ages 3539 1,310 9,313 21,345

Ages 4044 1,477 10,655 23,533

Ages 4549 1,639 11,641 25,169

Ages 5054 1,605 11,497 24,838

Ages 5559 1,521 10,888 23,344

Ages 6064 1,368 9,928 21,007

Ages 6569 1,187 8,715 18,141

Ages 7074 1,050 7,568 15,386

Ages 7479 911 6,520 12,731

Ages 8084 723 5,213 9,920

Ages 85+ 1,532 10,630 19,808

Income 1 Mile 3 Miles 5 Miles

Median $36,156 $49,429 $48,581

< $10,000 1,080 6,286 13,116

$10,000$14,999 863 4,410 9,720

$15,000$19,999 906 4,798 9,363

$20,000$24,999 542 4,313 8,805

$25,000$29,999 1,117 4,512 9,511

$30,000$34,999 711 3,868 8,450

$35,000$39,999 789 3,880 8,210

$40,000$44,999 711 4,004 7,899

$45,000$49,999 364 3,072 6,978

$50,000$60,000 841 5,509 12,200

$60,000$74,000 713 6,249 14,538

$75,000$99,999 745 7,220 15,454

$10,0000$124,999 353 4,702 9,377

$125,000$149,999 208 2,747 4,588

$150,000$199,999 214 2,436 4,477

> $200,000 23 3,243 6,111

ZONING CENTRAL RAC CORRIDOR

ZONING We were informed by the City of Hallandale Beach Planning and Zoning Department that the Subject has recently been rezoned to Central RAC district. The majority of the site lies within the Corridor Sub-district and the westernmost ±32,256 SF lies within the Neighborhood Sub-distict. Previously, the Subject was zoned B-G, a general commercial zoning, along Federal Highway and RM-18, a primarily multi-family zoning, in the western portions. According to the City’s Ordinance No. 2014-31 the purpose and intent of the Central RAC district “is to guide the redevelopment of land within the boundaries of the RAC land use category and the surrounding properties into a vibrant area that (a) provides a mix of uses within a pedestrian-friendly environment to meet the daily needs of workers, residents, and visitors; (b) encourages higher densities and intensities within a half-mile of the planned commuter rail station; (c) establishes a desirable residential location with a variety of housing types to accommodate a diverse population; (d) promotes the optimum use of transit by maintaining and enhancing a continuous inter-connected network of pedestrian and bicycle friendly streets; (e) provides public open space in the form of parks, plazas, and greens; and (f) encourages investment by accommodating new development at a range of scales including individual infill buildings and large redevelopment projects.” The Ordinance describes the Corridor Subdistrict as “the most intense subdistrict in the RAC, accommodating a wide range of uses, including major employment, shopping, civic, and entertainment destinations as well as residential uses. Located along wide, existing commercial corridors, this subdistrict will have the largest scale of redevelopment and will create a vibrant, pedestrian-friendly, mixed-use district along main transit routes, in close proximity to the planned Tri-Rail Coastal Link station.” The RAC Neighborhood Subdistrict is a zoning district which provides for a wide range of residential building types to meet the demands of a diverse community. These residential building types include houses, duplexes, townhouses, apartment houses, and courtyard buildings.


Central RAC Zoning Map showing Subdistricts and Subject Location


As can be seen above, the Central RAC Corridor Subdistrict is a liberal zoning district with allowable uses that include multi-family, lodging, office, and retail. The base building height limit is 10 stories with maximum height limit being 20 stories. The base density for this district is 18 dwelling units (du) per acre and the maximum density is 70-90 du per acre. The maximum height and density allowance is based on performing criteria and approval processes. The Neighborhood Subdistrict is basically a residential (single family and multifamily district. The base density for this subdistrict is 14 du/acre with a max of 20 du/acre. The majority of the Subject site lies within the Corridor subdistrict which is considered liberal and in no way appears to be restrictive to functional development of the site. Feasible uses include multi-family, office, and retail uses. Any use of the subject site must meet all physical requirements (setbacks, building height etc) and would still be subject to site plan approval from the City of Hallandale Beach. For a complete description of the zoning district, including all permitted uses and development standards, consult Ordinance No. 2014-31 or the City of Hallandale Beach Planning and Zoning Department.

EASEMENT AGREEMENT

Hallandale Beach Freestanding Office Building - US 1 ... · was recently completed. Only 2.6 miles...

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