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West Palm Beach Land Sale

WEST PALM BEACH LAND SALE

Five Mixed-Use Lots in the Currie Corridor
West Palm Beach, Palm Beach County, Florida

CapasGroup Realty Advisors, as exclusive marketing agent, announces the sale of two adjoining properties in the North Flagler Drive/Currie Park Corridor of West Palm Beach. The properties are summarized as follows:

PROPERTY DETAILS

North Parcel South Parcel Total
Number of Lots Two Three Five
Acres 0.298 0.567 0.865
Square Feet 12,980 24,700 37,680
Dimensions 100′ x 130′ 190′ x 130′ 290′ x 130′
Sale Price $520,000 $990,000 $1,510,000

DOWNLOAD TRANSACTION SUMMARY

STRATEGIC – CENTRAL LOCATION

The properties are strategically positioned along the 2100 and 2200 block of Ponce de Leon Avenue, the primary north-south roadway serving the interior of the Currie Park submarket.  They will be in the center of activity when neighborhood development is completed.  These characteristics make them ideally-suited for multifamily, commercial or mixed-use development.

PROPERTIES CAN BE ACQUIRED SEPARATELY OR TOGETHER

Owned and listed by two unrelated sellers, the properties were marketed together by CapasGroup as an assemblage opportunity as a means of enhancing marketability by increasing the size of the offering.  The strategy proved successful, attracting the attention of several would-be developers and ultimately resulting in the sale of both, separately owned parcels to one purchaser in a simultaneous closing.

AREA HIGHLIGHTS

Located 1.5 miles to the north of downtown West Palm Beach, the properties are positioned in the North End submarket known as the North Flagler-Currie Park Corridor.  This submarket is undergoing an exciting transformation making it one of the most intriguing redevelopment areas in South Florida.

The North Flagler-Currie Park Corridor spans approximately 18-to-20 acres along the North End waterfront.  The development potential of this entire area has been dramatically enhanced by recent modifications to the CMUD zoning code which, among other things, has increased the permitted building height from four to as high as 15 stories.

SUBMARKET HISTORY & ARTICLES

CapasGroup has published multiple articles regarding trends in the North Flagler-Currie Park Corridor and about CMUD Zoning.  These articles are available online on the CapasGroup Real Estate Blog.

HELPFUL LINKS

CMUD Zoning-Revised 11-10-14

Marketing Contact