Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1949
Sq.Footage
N/A
The current NOI is $53,548 with a 7.65% CAP rate. Build an 11 unit Multifamily, which will increase the total revenue to $363,000 and the NOI to $354,148, at a total cost of $3,671,500, resulting in a cap rate of 10%. Discover the potential of this rare 1.25-acre parcel, zoned RM (Multi-Family, Medium Density) and located in an unincorporated area. The site may accommodate up to 11 residential units--a prime opportunity for developers or investors seeking a strong growth prospect. Enjoy a strategic location just minutes from I-95, the Florida Turnpike, and a variety of shopping, dining, schools, and employment hubs.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
NO
-
Cooling
None
-
Heating YN
NO
-
Heating
None
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
1.25
-
Property Type
Commercial Sale
-
Property Sub Type
Multi Family
Price
-
Sales Price
$3,671,500
-
Tax Amount
5270.0
-
Zoning
RM
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
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Location
County
Palm Beach
Elementary School
Middle School
High School
Listing Courtesy of John A Diaz , KW Reserve Business Brokerage LLC
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