2800 Florida Blvd, Delray Beach, FL 33483
This exceptional 0.6-acre parcel in Delray Beach, Florida, presents a prime opportunity to acquire a shovel-ready development project. Approved plans are in place for the construction of seven luxurious, contemporary townhomes within the exclusive Tropic Isle waterfront community. The project, known as Delray Isles Townhomes, is ideally situated minutes from vibrant Downtown Atlantic Avenue and pristine beaches. Each of the planned two and three-story residences will boast 4 bedrooms and 4.5 bathrooms, featuring bespoke designs with private pools, outdoor kitchens, expansive terraces, and rooftop decks. The townhomes will range from 2,924 to 3,092 square feet of air-conditioned living space, with a total project area of 28,532 square feet. The property is zoned RM and is currently awaiting final city permitting, allowing for immediate groundbreaking. Construction financing is already secured, and details are available upon request. The asking price for this exceptional development opportunity is $3,750,000. All information provided is subject to verification. Joint venture opportunities are also being considered.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.