720 NE 3rd Avenue (“Magnolia 720”) presents a rare opportunity to acquire a courtyard-style office asset in the heart of Fort Lauderdale, just minutes from Downtown, Las Olas, and Flagler Village.

The property is approximately 80% occupied, providing immediate in-place income while still offering upside through lease-up of the remaining suite. The building’s unique layout, centered around a private courtyard, creates an attractive environment for professional users, boutique firms, and service-based businesses.

Recent capital improvements include a new roof and HVAC systems (2024), reducing near-term capital expenditure requirements for a new owner.

The property is zoned RAC-UV (Regional Activity Center – Urban Village), allowing for flexible mixed-use applications, making it suitable for continued office use, owner-user occupancy, or future redevelopment.

This offering is ideal for:

~Investors seeking stable income with upside

~Owner-users looking to occupy space while offsetting expenses

~Buyers pursuing a long-term land play in a growing urban corridor

Financial Overview (Sale)

Asking Price: $2,000,000

Occupancy: ~80%

Gross Rental Income ):

Based on ~$33–$40/SF

Approx. $24,000 – $29,000 annually per 731 SF suite equivalent

(actual income may vary depending on tenant mix — confirm with rent roll)

Net Operating Income (Projected):

Estimated based on current occupancy and market rents

Buyer to verify all income and expenses

Cap Rate (Pro Forma):

Estimated range: 6.0% – 7.5%+ depending on lease-up and rent adjustments

(requires verification of actual rent roll and expenses)

Value-Add Opportunity:

Lease-up of the remaining vacancy

Rental rate adjustments to the market

Potential repositioning or redevelopment under RAC-UV zoning