development site 4 blocks north of atlantic ave | clean phase ii

401 NE 6th Ave, Delray Beach, FL, Palm Beach 33483

Development Land

CBD

Added: 2021-11-13 Updated: 2024-04-27

Active $2,500,000

SVN Commercial Partners, as exclusive advisors, proudly presents for sale Fed & 4th (the “Property”), a prime +/- 0.31-acre development site situated on a signalized corner, a mere four blocks north of the renowned Atlantic Avenue in downtown Delray Beach, Florida. A recently conducted phase-II environmental report has confirmed the site''s cleanliness, with no further action required. The clean Phase-II environmental report may be transferred to purchaser for reliance, assuring prospective developers of a sound environmental foundation for their projects. The Property is currently leased to Duro Tran Transmission who has occupied an automotive building on the property for more than a decade. The Property also offers 20 parking spots (5.58/1,000 square feet). The existing short-term lease provides steady income, thereby mitigating holding costs for potential developers as they navigate through the approval and entitlement process. With its ideal location, signalized corner, tenant with short-term lease, and flexible zoning; Fed & 4th presents an exceptional redevelopment opportunity, ideal for luxury residential, retail, office, medical, or mixed-use. Offered at approximately 12.5% below the average price per acre at $8M/acre, this represents a compelling investment opportunity, providing investors with the potential to acquire prime real estate at a below-market cost. Don''t miss the chance to seize this unique opportunity to be part of the vibrant growth and development in downtown Delray Beach.

Listing contacts

Elon Gerberg
SVN | Commercial Partners
(561) 485-1129

Median household income (5-mile radius) 42,524

Renters occupied (5-mile radius) 30%

Num of competitors (5-mile radius) 33

Sq.Ft. per capita (1-mile radius) 8.91

5x5 unit average price $52

5x10 unit average price $79

10x10 unit average price $148

Number of floors 1

APN # 12434609300000260

Lot Size (acres) 0.31

Zoning CBD

Physical Occupancy 100%

Parking ratio 2.06

Year Built 1967

Analyze the location

Feasibility study

Prime +/- 0.31-acre development site located just 4 blocks north of Atlantic Avenue in downtown Delray Beach.
Offered at approximately 12.5% below the average price per acre, providing investors with a compelling opportunity to acquire prime real estate at a below-market cost.
Recently conducted phase-II environmental report confirms site cleanliness, may be transferred to purchaser for reliance, facilitating a sound foundation for redevelopment projects.
Zoned CBD (Central Business District), allowing for a maximum building height of 54 feet and accommodating diverse land uses including luxury residential, retail, office, medical and mixed-use
Strategically situated on a signalized corner of Lake Ida Road (NE 4th St.) and Federal Hwy (US-1 / NE 6th Ave), offering unparalleled visibility and accessibility
Adjacent to Delray Commons, a Walgreens and Publix anchored retail plaza, and across from a proposed 30-unit luxury townhome development, enhancing its attractiveness and potential for future development synergies

Strategically positioned just four blocks north of the renowned Atlantic Avenue in downtown Delray Beach, Florida on the signalized northwest corner of Lake Ida Road (NE 4th St.) and Federal Hwy (US-1)/NE 6th Ave, two arterial thoroughfares in Delray Beach. This signalized corner provides the added benefit of easy access via ingress and egress to both corridors and offers unparalleled visibility and accessibility. Adjacent to Delray Commons, a Walgreens and Publix anchored retail plaza, and across from a proposed 30-unit luxury townhome development, the Property benefits from its proximity to established retail anchors and the anticipated upscale residential addition, further enhancing its attractiveness and potential for future development synergies. Fed & 4th sits on a .31acre parcel zoned CBD (Central Business District), which allows for a maximum overall building height of 54 Feet (4 stories) and has many potential land uses including luxury residential, retail, office, medical, and mixed-use.

Drive Time:

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development site 4 blocks north of atlantic ave | clean phase ii

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