Description
The three parcels making up this assemblage are currently zoned Multifamily and Office Professional. The highest and best use for this 1.5 Acre site is likely luxury condo development. With a five-story office building next door, a minimum of 5 stories and 40 condos would likely be approved. Entitlements for 8-12 stories are not out of the realm of possibility as the neighboring Ritz-Carlton Residences consist of 27 stories right across the street. The location is steps to the beach and minutes to Downtown West Palm Beach and the Palm Beach International Airport. With cash flowing assets in place, the Buyer can take their time with development plans and collect over $350,000 per year in rents. This purchase offers immediate cash flow and an incredible development opportunity going
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Courtesy of: Coldwell Banker Realty /Delray Beach All listings featuring the BMLS logo are provided by BeachesMLS Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright 2022 Beaches Multiple Listing Service, Inc. Updated: 27th January, 2023 1:52 AM (UTC)
