2311 BroadwayRiviera Beach, FL 33404

Property Details for 2311 Broadway

Year built

1958

Construction

CONCRETE

Lot size

0.45 AC

Property size (Sq ft)

5,556 SF

Zone code

DC

Property type

Retail properties

Property subtype

Retail space

APN

56-43-42-28-24-001-0160

APU

56434228240010160

Description

This exceptional 6,536 square foot storefront, located at 2311 Broadway in Riviera Beach, Florida, presents a compelling investment opportunity. Currently vacant with an occupancy date of October 15, 2024, this single-story, Class C building sits on a substantial 19,800 square foot lot. Built in 1958, the property boasts excellent visibility and high traffic counts of 28,500 vehicles per day (VPD) due to its prime Broadway frontage. Zoned DC, Downtown Core, this location allows for high-density development, making it an ideal candidate for redevelopment or continued use as a retail space. The property offers ample on-site parking, a significant advantage in a high-traffic area. The asking price is $1,725,000, representing an owner/user investment opportunity. This property is perfect for a business seeking a high-visibility location with significant development potential in a thriving area of Riviera Beach. The building's single-unit configuration provides flexibility and ease of management. Its location within Palm Beach County, Florida, and its proximity to the city's core, ensures strong potential for future growth and return on investment. This is a rare opportunity to acquire a well-positioned retail property in a dynamic market.

• CAP approach

  CAP return

  Valuation

  6%

  $2,692,670

  6.5%

  $2,485,542

  7%

  $2,308,003

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,894,832

  Geo Method

  $3,894,832

• Alternative Use

  Use

  Valuation

  Residential

  $2,096,648

  Hospitality

  $1,920,518

  Educational

  $1,597,848

  Medical

  $1,652,801

  Retail

  $2,485,542

Location Insight

City

Riviera Beach

County

Palm Beach

State

Florida

Latitude

26.7816

Longitude

-80.0553

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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