development site 4 blocks north of atlantic ave | clean phase ii
401 NE 6th Ave, Delray Beach, FL, Palm Beach 33483
Development Land
CBD
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.
