Marlin Bay Apts. 99-year ground lease

0.51 Acres of Residential Land Offered at $1,500,000 USD in Fort Lauderdale, FL 33308

Asking Price $1,500,000

Property Type: Land

Listing Contacts

Robert Wainland

Verified Profile

Property Info

Property Overview

This property owner has a 99 year ground lease with a Co-Op that expires in 2056. The Lessee owns a 16 unit two story apartment building on the land. Current zoning is RMH-60 which allows for high density. This is a trophy site perfect for a family o?ce looking to preserve capital and provide an amazing investment for future generations. Alternatively, if a developer can buyout the Co-Op, they could plan for development in the near future. THE LISTING IS FOR THE LAND. THE BUILDING CURRENTLY BELONGS TO THE CO-OP.

Property Details

Property Subtype: Residential/Multifamily

Highlights

Ground lease expires in 2056
16 Co-op units on land today
85' of Waterfront
Surrounded by upscale properties
RMH-60 Zoning, most desirable
Build up to 150' or 300' with conditional use permit

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