2400 Federal Hwy, Delray Beach, FL 33483-6131
- Retail properties & Spaces
- 14,875 SF
- 1.37 lot acres
Current Use by Public Records
- Delray Preowned / Car Dealership
- Badcock Home Furniture & More of Delray Beach / Furniture & Home Goods / Home Decor Store
- Certified Service / Dental Office
- Collision Center of Delray / Auto Repair Shop
- Delray Buick GMC / Car Dealership
Property Details for 2400 Federal Hwy
- Year built
- 1951
- Construction
- CONCRETE
- Lot size
- 1.37 lot acres
- Zone code
- GC
- Property type
- Retail properties & Spaces
- APN
- 12-43-46-04-30-000-0020
- APU
- 12434604300000020
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Sep 21, 2022 | $4,500,000 | Federal 2400 LLC | Pbt INC | Warranty Deed | $3.4M · Mutualone Bank |
| — | — | Badcocks Economy Furniture | — | Loan Modification · related | $16M · Branch Bk&tr |
Description
This exceptional mixed-use property, located at 2400 N Federal Highway in Delray Beach, Florida, presents a unique investment opportunity. Currently zoned and designed for the development of sixteen luxury condominiums, this 14,875 square foot site offers significant potential for high-end residential development. The property boasts a 100% occupancy rate and is situated on a prime location in the thriving Federal Highway corridor, just north of Downtown Delray Beach. Detailed plans for the proposed 16-unit luxury condominium development are available upon request. Each condo is envisioned to offer between 2,500 and 2,800 square feet of luxurious, climate-controlled living space. The property was built in 1951 and is offered at an asking price of $7,200,000. While the lot size is not specified, the existing building footprint and development plans provide a clear understanding of the buildable area. This is an exceptional opportunity to capitalize on the strong Delray Beach real estate market and create a premier luxury condominium community. The property's current 100% occupancy provides immediate return on investment, while the future development potential offers significant long-term growth. This prime location and the detailed plans available make this a truly compelling investment proposition. Contact us today to learn more about this remarkable opportunity.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $4,315,000
- ML approach
- $4,615,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $4,190,000
- 6.5%
- $3,870,000
- 7%
- $3,595,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Delray Beach
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0652
- Latitude
- 26.4873
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
