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    115 Inlet Way Palm Beach Shores, FL 33404

    Sponsored
    For Sale
    $6,500,000

    11-Unit Apartment Building, Huge Potential

    Property size:
    30,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    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 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

    HighLights

    • $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.
    • Redevelopment opportunity: potential for up to 10 villas or townhomes.
    • Currently two, two‑story buildings under renovation; zoned for multifamily use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply Accounting Firm

    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

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    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.
    Request Owner's contact information
    115 Inlet Way Palm Beach Shores, FL 33404
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    Palm Beach Shores, FL 33404
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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
    115 Inlet Way Palm Beach Shores, FL 33404
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