2400 N Federal Hwy Delray Beach, FL 33483
- Retail properties
- 14,875 SF
- 1.37 lot acres
Current Use by Public Records
- Delray Preowned / Used Car Dealer
- Badcock Home Furniture & More of Delray Beach / Furniture Store / Appliance Store
- Certified Service / Dentist
- Collision Center of Delray / Auto Body Shop / Auto Dent Removal Service
- Delray Buick GMC / Used Car Dealer / Car Dealer
Property Details for 2400 N Federal Hwy
- Year built
- 1951
- Construction
- CONCRETE
- Lot size
- 1.37 lot acres
- Property size
- 14,875 SF
- Zone code
- GC
- Property type
- Retail properties
- APN
- 12-43-46-04-30-000-0020
- APU
- 12434604300000020
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 Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $4,315,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $4,345,000
- 6.5%
- $4,820,000
- 7%
- $4,890,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $4,680,000
- Geo Method
- $3,875,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,890,000
- Retail
- $3,800,000
- Mixed-Use
- $4,735,000
- Hospitality
- $4,470,000
- Educational
- $4,480,000
- Residential Income
- $4,130,000
- Energy
- $4,280,000
- Income-Based Land
- $4,340,000
- Food Service
- $5,140,000
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
