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    1200 Atlantic Ave Delray Beach, FL 33483

    Sponsored
    For Sale
    $8,500,000

    Prime ocean-block location, high potential.

    Property size:
    6,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property at 1200 E Atlantic Avenue in Delray Beach, Florida, presents a compelling investment opportunity. The property, with APN 12434616280020032, consists of three buildings totaling 6,700 square feet on a lot approximately 90' x 110', offering significant upside potential. Currently operating at 100% occupancy with six units, the property generates income with a 2.00% cap rate and is priced at $8,500,000. Built in 1951 and extensively renovated in 2022, this Class B property boasts a permitted CBD zoning designation. The property includes 10 parking spaces. Architectural plans, provided by Randall Stofft Architects, are available for a major luxury condo development, leveraging the substantial 10,000 square feet of available air rights. This prime location, just one block from the ocean in Palm Beach County (zip code 33483), offers a unique chance to capitalize on the thriving Delray Beach market. The property is a two-story structure, and presents a buy-and-hold strategy for future appreciation or redevelopment into five specialty retail spaces and five luxury condos.

    Property Features for 1200 Atlantic Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    6,700 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1951/2022
    Buildings
    3
    Stories
    2
    Units
    6

    HighLights

    • Oceanfront location, one block from the beach.
    • Significant value‑add opportunity.
    • 12,000 sq ft site with approved plans for a luxury condominium development.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Artist's Palate Art Cafe

    Suggested Use

    Law Firm Restaurant Realty agency Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Pharmacy Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Delray Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.059629873706
    Latitude
    26.461532668056

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    FAQs

    What type of property is this?
    Mixed-use property - Prime ocean-block location, high potential.
    Where is this mixed-use property located?
    The property is located at 1200 Atlantic Ave Delray Beach, FL.
    What is the asking price?
    The asking price for this property is $8,500,000.
    What are key features of this property?
    This property features: Oceanfront location, one block from the beach.; Significant value-add opportunity.; 12,000 sq ft site with approved plans for a luxury condominium development.
    Request Owner's contact information
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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
    1200 Atlantic Ave Delray Beach, FL 33483
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