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518 N Riverside Dr - 518-524 N Riverside Drive 0.47 Acres of Commercial Land Offered at $3,495,000 in Pompano Beach, FL 33062
Property Facts
| Price | $3,495,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Condition | Redevelopment Project | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.47 AC |
| Zoning | RM-45 - RM-45 | ||
| Price | $3,495,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.47 AC |
| Zoning | RM-45 - RM-45 |
1 Lot Available
Lot
| Price | $3,495,000 | Lot Size | 0.47 AC |
| Price Per AC | $7,436,170.21 |
| Price | $3,495,000 |
| Price Per AC | $7,436,170.21 |
| Lot Size | 0.47 AC |
The subject property is improved with a 27,146 square foot retail building that was built in 1977. The property was originally used as a roller-skating rink and has since been repurposed as a house of worship.
Description
Nestled in the vibrant heart of Pompano Beach, the development site located at 518-524 N Riverside Drive presents an unparalleled opportunity for visionary developers. Spanning a generous .47 acres, this prime parcel of land is zoned RM-45, offering immense flexibility and potential for a diverse array of development projects. With the ability to construct over 20 apartments or craft a collection of luxury townhomes, the site caters to those looking to tap into the area's flourishing real estate market surrounded. Its strategic positioning not only promises stunning views but also ensures easy access to a wealth of local amenities, including bustling shopping districts, gourmet dining options, and serene beaches, making it an ideal setting for upscale residential developments that meet the growing demand for high quality living spaces. This unique parcel represents a rare blend of scale, location, and zoning potential, making it a highly attractive investment opportunity. Whether the vision is to create a modern apartment complex or exclusive townhomes, 518-524 N Riverside Drive stands as a canvas ready for transformation into a landmark development in Pompano Beach. Unlock the potential of this extraordinary site and shape the future of living in one of Florida's most sought-after coastal communities. The property is located in the highly sought after community east of the inter-coastal waterway just north of the Pompano Beach Pier, The area is impacted by the retail, educational, marine, and tourist industries. Flexible and aggressive zoning allows for construction of a variety of projects, from high end market rate multifamily, to luxury condos or townhomes, encompassing up to 45 du/acre, allowing for the development of up to 105 feet, with 60% lot coverage, and at least 20 Units.
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,802,120 | |
| Land Assessment | $605,340 | Total Assessment | $2,407,460 |
Property Taxes
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518 N Riverside Dr - 518-524 N Riverside Drive
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