114 S Olive Ave, West Palm Beach, FL

This historic mixed-use building, constructed in 1923, offers 13,083 square feet of space on a 0.11-acre parcel in downtown West Palm Beach. The three-story building is located on Olive Avenue, a major north-south thoroughfare. Situated in a highly desirable submarket, the property benefits from a surrounding population of approximately 15,181 residents within a 1-mile radius, with an average annual household income of approximately $138,680 and an anticipated population growth rate of nearly 40% over the next five years. The location provides access to the downtown West Palm Beach culture and lifestyle, attracting major tenants and corporate relocations. Renovations in 2016 and 2018 included structural, electrical, hurricane impact glass, and plumbing upgrades, enabling the addition of two stories, bringing the total building height to the maximum allowance of five stories in the Clematis waterfront district. Previously home to the American National Bank during the 1920s, the property is currently tenanted by Banko Cantina. A full liquor license (4COP) is included in the sale, allowing for the sale and consumption of beer, wine, and spirits on the premises. The current tenant's lease is month-to-month, with the possibility of extension. This property is suitable for an owner-user or family office seeking a historic building in a thriving market. The building features a historically designated and charming facade.