Development Site 4 Blocks North of Atlantic Ave | Clean Phase II

Highlights

• 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

Description

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.

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.