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115 Inlet Way Palm Beach Shores, FL 33404

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For Sale
Contact for pricing

11-Unit Apartment Building, Huge Potential

Property size:
30,000 SF

Property Features for 115 Inlet Way

General Information

Property type
Multifamily properties
Square Feet
30,000 SF

Building Details

Year Built
1953
Stories
2
Units
11

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Listing Contact
Jelena Grady

Listing Agency: Trust Invest Real Estate Corp Listing Agent: Jelena Grady

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

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Property Insight Report

Overview

This exceptional redevelopment opportunity presents a unique chance to capitalize on the burgeoning Palm Beach Shores market. Located at 115 Inlet Way, this property boasts a substantial 22,000 square foot lot, offering significant upside potential. Currently featuring an 11-unit, two-story apartment building (30,000 square feet of net rentable space) built in 1953, the property is undergoing renovations. The existing structure is classified as a mix of Class B and C properties. The current zoning permits multifamily use, allowing for the development of up to ten villas or townhomes, each ranging from 2,500 to 3,000 square feet. This prime location places the development steps away from both the beach and waterways, maximizing its desirability and value. The property is held by an LLC and is offered at $6,500,000. This represents a rare chance to acquire a free-and-clear asset in a rapidly developing area, ideal for reputable developers, funds, or asset management groups seeking high-return investments. Note that some marketing materials include renderings. The property's existing buildings are currently under renovation. This is a truly exceptional opportunity to create a luxury residential development in a highly sought-after location.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Small apartment buildings

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Gym & Fitness Center Building Supply Accounting Firm Skin Care Clinic

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

Location Insight

  • Map
  • Local Demand
City
Palm Beach Shores
County
Palm Beach
State
Florida
Longitude
-80.0339748
Latitude
26.7749446

FAQs

What type of property is this?
Multifamily property - 11-Unit Apartment Building, Huge Potential
Where is this multifamily property located?
The property is located at 115 Inlet Way Palm Beach Shores, FL.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: $6,500,000 asking price.; Multifamily apartment building with 11 units.; 30,000 square feet, situated on a 22,000 square foot lot in Palm Beach Shores, FL.
(305) 215-0036 Call to check price and availability
More about this property
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