205 NE 12th Ave, Hallandale Beach, FL 33009
Mid-Core 7plex located east of Federal Hwy no longer represents its highest and best use. the lot size is 32,762 SF or .75 Acre and will accommodate 10 townhomes by right. Zoned R-12 which allows 14 units per acre. At 1,500 square feet per unit (3/2) +10 Townhouses constructed at $150/SF yields a residual land value of $1.7 Million (list price) Download the Offer Memorandum which provides H&B analysis and comps for area land sales. Property tour available with offer/contract. Property is leased on a M-T-M basis with a NOI of $55,199.
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Competition is low in 33009, with homes selling 6% below asking price over the last three months. Three years ago, they were selling 5% below asking price.
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