5509 BroadwayWest Palm Beach, FL 33407

Property Details for 5509 Broadway

Year built

1948

Construction

WOOD

Lot size

0.31 AC

Property size (Sq ft)

2,113 SF

Zone code

BMUD- II

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

74-43-43-04-08-062-0010

APU

74434304080620010

Description

This exceptional 22,812 square foot mixed-use property in West Palm Beach, Florida, presents a compelling redevelopment opportunity. Located at 5509 Broadway, within the Broadway Corridor CRA and an Opportunity Zone, this site offers significant tax incentives and development benefits. Built in 1948, the property is zoned to allow for the construction of a three-story building, providing flexibility for a dynamic mix of residential, commercial, and retail spaces. The high-traffic location ensures excellent visibility and strong growth potential. This strategic location, combined with favorable zoning regulations, makes this an attractive investment for developers seeking to capitalize on the area's revitalization. The asking price is $1,500,000. This unique opportunity allows for the creation of a landmark development within a thriving community, benefiting from the ongoing improvements and investment in the Broadway Corridor. The property's potential is further enhanced by its position within a designated Community Redevelopment Area, promising continued growth and development in the surrounding neighborhood. Don't miss this chance to shape the future of West Palm Beach's vibrant Broadway Corridor. The property's address is 5509 Broadway, West Palm Beach, FL 33407.

• CAP approach

  CAP return

  Valuation

  6%

  $906,205

  6.5%

  $836,497

  7%

  $776,747

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,481,242

  Geo Method

  $1,481,242

• Alternative Use

  Use

  Valuation

  Residential

  $705,616

  Hospitality

  $646,341

  Educational

  $537,748

  Medical

  $556,242

  Retail

  $836,497

Location Insight

City

West Palm Beach

County

Palm Beach

State

Florida

Latitude

26.7601

Longitude

-80.0558

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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