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    3395 2 Ave Palm Springs, FL 33461

    For Sale
    $1,099,999

    3.42 Acres, Multi-Family Potential

    Property size:
    2,258 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 3.4218-acre property in Palm Springs, Florida, presents a unique development opportunity. Located on the north side of 2nd Avenue N, between Davis Road and Miller Road, the site boasts 130 feet of frontage. Currently featuring a 2,258 square foot building with four apartments (one 2-bedroom/2-bathroom unit and three efficiencies), recent improvements include a new roof, paint, flooring, AC units, shutters, gutters, and sprinklers. However, the highest and best use, based on a recent appraisal study assuming the filled gravel pit is developable, is multi-family residential. The property includes a 0.5179-acre building site and a 2.9039-acre gravel pit currently filled with water. Zoned RM Multi-Family Residential (Medium Density), this property offers significant potential for redevelopment. The asking price is $1,099,999. The existing building was constructed in 1960. The land value is predicated on the assumption that the gravel pit can be filled, making the entire 3.4218 acres developable. This assumption underpins the as-completed value, which is based on demolishing existing structures and marketing the land as vacant. This presents a compelling investment opportunity for developers seeking to capitalize on the high demand for multi-family housing in this desirable location. The property's address is 3395 2nd Avenue N, Palm Springs, FL 33461.

    Property Features for 3395 2 Ave

    General Information

    Property type
    Specialty properties
    Square Feet
    2,258 SF

    Building Details

    Year Built
    1960
    Units
    1

    HighLights

    • 3.42‑acre development site in Palm Springs, FL, zoned RM Multi‑Family (Medium Density).
    • 130 feet of frontage on 2nd Avenue N, between Davis and Miller Roads.
    • Existing 2,258 sq ft building with four apartments (one 2/2, three efficiencies); recent renovations include roof, paint, flooring, AC, shutters, gutters, and sprinklers.
    • Highest and best use: multi‑family residential development (assuming filled gravel pit is developable).
    • Includes 0.5179‑acre building site and 2.9039‑acre filled gravel pit.
    • Asking price: $1,099,999.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Springs
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0960326
    Latitude
    26.6198752

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    FAQs

    What type of property is this?
    Specialty property - 3.42 Acres, Multi-Family Potential
    Where is this specialty property located?
    The property is located at 3395 2 Ave Palm Springs, FL.
    What is the asking price?
    The asking price for this property is $1,099,999.
    What are key features of this property?
    This property features: 3.42-acre development site in Palm Springs, FL, zoned RM Multi-Family (Medium Density).; 130 feet of frontage on 2nd Avenue N, between Davis and Miller Roads.; Existing 2,258 sq ft building with four apartments (one 2/2, three efficiencies); recent renovations include roof, paint, flooring, AC, shutters, gutters, and sprinklers.
    Request Owner's contact information
    3395 2 Ave Palm Springs, FL 33461
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    Palm Springs, FL 33461
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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
    3395 2 Ave Palm Springs, FL 33461
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