115 Inlet WayPalm Beach Shores, FL 33404

Property Details for 115 Inlet Way

Year built

1953

Property size (Sq ft)

30,000 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional redevelopment opportunity presents a unique chance to capitalize on the burgeoning Palm Beach Shores market. Located at 115 Inlet Way, this property boasts a substantial 22,000 square foot lot, offering significant upside potential. Currently featuring an 11-unit, two-story apartment building (30,000 square feet of net rentable space) built in 1953, the property is undergoing renovations. The existing structure is classified as a mix of Class B and C properties. The current zoning permits multifamily use, allowing for the development of up to ten villas or townhomes, each ranging from 2,500 to 3,000 square feet. This prime location places the development steps away from both the beach and waterways, maximizing its desirability and value. The property is held by an LLC and is offered at $6,500,000. This represents a rare chance to acquire a free-and-clear asset in a rapidly developing area, ideal for reputable developers, funds, or asset management groups seeking high-return investments. Note that some marketing materials include renderings. The property's existing buildings are currently under renovation. This is a truly exceptional opportunity to create a luxury residential development in a highly sought-after location.

Location Insight

City

Palm Beach Shores

County

Palm Beach

State

Florida

Latitude

26.7749

Longitude

-80.034

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