530 17Th StWest Palm Beach, FL 33407

Property Details for 530 17Th St

Year built

1952

Construction

WOOD

Lot size

0.17 AC

Property size (Sq ft)

6,268 SF

Zone code

MF14

Property type

Office properties

Property subtype

Office buildings

APN

74-43-43-16-18-010-0050

APU

74434316180100050

Description

This exceptional investment opportunity encompasses three warehouse buildings totaling 11,633 square feet situated on a substantial 39,795 square foot lot in West Palm Beach, Florida. The property, located at 530, 540, & 553 17th Street, zip code 33407, is zoned MF-14, offering significant redevelopment potential. Currently configured as three separate warehouse units, the buildings were constructed in 1952 and present a unique chance for adaptive reuse or complete redevelopment. The existing structures are classified as Class C industrial/commercial buildings. Given the property's location near the burgeoning Nora District and the city's robust real estate market, characterized by numerous planned and under-construction multifamily projects totaling nearly 7,000 units, this site presents a compelling opportunity for developers seeking to capitalize on West Palm Beach's dynamic growth. The potential for single-family, multifamily, or specific commercial uses exists, subject to the applicable zoning regulations. The asking price for this prime West Palm Beach property is $2,500,000. This is a rare chance to acquire a significant land parcel in a rapidly developing area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,828,683

  6.5%

  $1,688,015

  7%

  $1,567,443

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,743,632

  Geo Method

  $1,743,632

• Alternative Use

  Use

  Valuation

  Residential

  $2,093,139

  Hospitality

  $1,917,304

  Educational

  $1,595,174

  Medical

  $1,650,035

  Retail

  $2,481,383

Location Insight

City

West Palm Beach

County

Palm Beach

State

Florida

Latitude

26.7289

Longitude

-80.0562

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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