2400 Federal HwyDelray Beach, FL 33483

Property Details for 2400 Federal Hwy

Year built

1951

Construction

CONCRETE

Lot size

1.37 AC

Property size (Sq ft)

14,875 SF

Zone code

GC

Property type

Retail properties

APN

12-43-46-04-30-000-0020

APU

12434604300000020

Description

This exceptional mixed-use property, located at 2400 N Federal Highway in Delray Beach, Florida, presents a unique investment opportunity. Currently zoned and designed for the development of sixteen luxury condominiums, this 14,875 square foot site offers significant potential for high-end residential development. The property boasts a 100% occupancy rate and is situated on a prime location in the thriving Federal Highway corridor, just north of Downtown Delray Beach. Detailed plans for the proposed 16-unit luxury condominium development are available upon request. Each condo is envisioned to offer between 2,500 and 2,800 square feet of luxurious, climate-controlled living space. The property was built in 1951 and is offered at an asking price of $7,200,000. While the lot size is not specified, the existing building footprint and development plans provide a clear understanding of the buildable area. This is an exceptional opportunity to capitalize on the strong Delray Beach real estate market and create a premier luxury condominium community. The property's current 100% occupancy provides immediate return on investment, while the future development potential offers significant long-term growth. This prime location and the detailed plans available make this a truly compelling investment proposition. Contact us today to learn more about this remarkable opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $6,725,260

  6.5%

  $6,207,932

  7%

  $5,764,508

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,042,981

  Geo Method

  $10,042,981

• Alternative Use

  Use

  Valuation

  Residential

  $5,236,623

  Hospitality

  $4,796,718

  Educational

  $3,990,814

  Medical

  $4,128,064

  Retail

  $6,207,932

Location Insight

City

Delray Beach

County

Palm Beach

State

Florida

Latitude

26.4873

Longitude

-80.0652

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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