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    1551 Forum Pl West Palm Beach, FL 33401

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    For Sale
    Contact for pricing

    238-unit waterfront development with site plan approval in West Palm Beach.

    Lot size:
    3.74 Acres

    Property Features for 1551 Forum Pl

    General Information

    Lot size
    3.74 Acres

    Source: Colliers | Boca Raton Agent Mark M. Rubin

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Waterfront Multifamily Development Opportunity

    This is an opportunity to acquire a 238-unit waterfront multifamily development with site plan approval and permit-ready construction documents. The project, located in West Palm Beach, includes 60 work-from-home units at 100% AMI (Area Median Income). Recent cost estimates from local construction companies project hard costs ranging from $58 to $60 million. Forum Place received Concept Approval for a HUD 221 d.4 construction loan in December 2024. Forum Place will be an eight-story mid-rise multifamily building situated on 3.74 acres in the Palm Beach Lakes section of West Palm Beach. The development features 238 tunnel-form, category 5 hurricane-rated units, 383 parking spaces, and 86 storage lockers. It boasts a waterfront location on Lake Mangonia with views of Clearlake and a connection to a public right-of-way extension of the Turquoise Necklace bicycle and walking paths to Downtown.
    Insight Report Location Intelligence

    Current Use by Public Records

    DIRECTWORKSMEDIA Marketing Agency Marie Karimpanal CPA, ... Certified Public Accountant SunSeptic Products Septic System Service Elizabeth M. Barron, ... Psychologist Richard S. Bernstein ... Life Insurance Agency

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0785164
    Latitude
    26.7267875

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    FAQs

    What type of property is this?
    Land - 238-unit waterfront development with site plan approval in West Palm Beach.
    Where is this land located?
    The property is located at 1551 Forum Pl West Palm Beach, FL.
    What are key features of this property?
    This property features: - Waterfront multifamily development opportunity on Lake Mangonia with views of Clearlake.; - Site Plan approval and permit ready CDs for **238 units** in West Palm Beach.; - Concept Approval for a HUD 221 d.4 construction loan received in December 2024.
    (561) 302-2511
    Request Owner's contact information
    1551 Forum Pl West Palm Beach, FL 33401
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    West Palm Beach, FL 33401
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1551 Forum Pl West Palm Beach, FL 33401
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