Real Estate
6:24 pm
Fri March 14, 2014

Want To Buy A Prison? You're In Luck

The prison might make a nice renovation project for the right person.
Credit Creative Commons via WikiCommons / Illustration by Wilson Sayre
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UPDATE 6/2/2014: The City of Pembrook Pines has won their bid for the empty prison. Mayor Frank Ortis says the City wanted to control what happened with the land which is not far from houses that fall within city limits.

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A 66-acre plot of land off Sheridan Street has excellent security features, and it will soon be on the market. The Broward County Correctional Institution, a former women’s prison, is being sold off by the state.

The property also boasts an interesting history. For 35 years, it has housed Florida’s female death-row inmates, including serial killer Aileen Wuornos, played by Charlize Theron in the 2003 film "Monster."

For the most part, the property's value is in the land. It's hard to find such big tracts for sale in South Florida.

But broker Chris Wood, who will oversee the sale for brokerage firm CBRE, thinks at least a few buyers will be interested in the actual prison.

"I mean, because you’ve got 'dormitories' and you've got a restaurant. Recreational, religious and library facilities [are] located on the property," Wood explains.

Wood says for the right person, it could be a good renovation project.

"There is the possibility that the property can be renovated or rehabilitated for institutional use -- perhaps a little community-college campus," he says. "The range of uses is only limited to the imagination of the buyer."

Anyone interested in buying the prison has to put in a sealed offer. Then the state will choose the new owner.

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March 18, 2014 - An earlier version of this story incorrectly stated that the prison was being sold by Broward County, it is being sold by the state.