Property summary
This exceptional 0.32-acre commercial land parcel in West Palm Beach, Florida, presents a unique redevelopment opportunity. Located at 1725 Spruce Ave, zip code 33407, this property boasts a 1,418 square foot existing retail building situated on a 13,722 square foot lot. The property is zoned for multi-family use, allowing for the construction of various residential projects, or certain commercial uses as permitted by the zoning code. Given West Palm Beach's burgeoning real estate market and the significant influx of new residents, this location offers substantial potential for high returns. The city is experiencing a construction boom, with numerous multi-family projects underway, indicating strong demand and a favorable investment climate. This prime location offers developers the chance to capitalize on this growth, creating a thriving residential or commercial development. The existing structure provides a potential starting point for redevelopment, or could be demolished to make way for a new construction. The 0.32-acre lot size provides ample space for a variety of development options. This is an exceptional opportunity to invest in a rapidly growing area of West Palm Beach. The property is conveniently located in Palm Beach County, Florida.
Property profile
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Location
Value estimations
Owner & transaction history
Zoning & alternative use
ict; single-family low density Sec. 94-73. - Single-family/small lot (SF11) high density residential district. Sec. 94-74. - Single-family high density (SF14) residential district. Sec. 94-75. - Multifamily low density (…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
MF14 · West Palm Beach, FLict; single-family low density Sec. 94-73. - Single-family/small lot (SF11) high density residential district. Sec. 94-74. - Single-family high density (SF14) residential district. Sec. 94-75. - Multifamily low density (…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
ict; single-family low density Sec. 94-73. - Single-family/small lot (SF11) high density residential district. Sec. 94-74. - Single-family high density (SF14) residential district. Sec. 94-75. - Multifamily low density (…
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