2311 Broadway Riviera Beach, FL 33404-4530
- Retail space
- 5,556 SF
- 0.45 lot acres
Jan 06, 2025
Current Use by Public Records
- Retail space
Property Details for 2311 Broadway
- Year built
- 1958
- Construction
- CONCRETE
- Lot size
- 0.45 lot acres
- Property size
- 5,556 SF
- Zone code
- DC
- Property type
- Retail space
- APN
- 56-43-42-28-24-001-0160
- APU
- 56434228240010160
Description
This exceptional 6,536 square foot storefront, located at 2311 Broadway in Riviera Beach, Florida, presents a compelling investment opportunity. Currently vacant with an occupancy date of October 15, 2024, this single-story, Class C building sits on a substantial 19,800 square foot lot. Built in 1958, the property boasts excellent visibility and high traffic counts of 28,500 vehicles per day (VPD) due to its prime Broadway frontage. Zoned DC, Downtown Core, this location allows for high-density development, making it an ideal candidate for redevelopment or continued use as a retail space. The property offers ample on-site parking, a significant advantage in a high-traffic area. The asking price is $1,725,000, representing an owner/user investment opportunity. This property is perfect for a business seeking a high-visibility location with significant development potential in a thriving area of Riviera Beach. The building's single-unit configuration provides flexibility and ease of management. Its location within Palm Beach County, Florida, and its proximity to the city's core, ensures strong potential for future growth and return on investment. This is a rare opportunity to acquire a well-positioned retail property in a dynamic market.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,215,000
- ML approach
- $1,240,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,565,000
- 6.5%
- $1,445,000
- 7%
- $1,340,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,840,000
Market price range: $1.24M - $3.62M
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Location Insight
- Map
- Local Demand
- City
- Riviera Beach
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0553
- Latitude
- 26.7816
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA