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303 Gardenia Street, West Palm Beach, FL 33401

$5,600,000
Property Type: Comm/Industry Baths: 9 Status: Closed
Current Price: $5,600,000 Last Modified: 9/01/2024

Description

303 Gardenia and 501 S Olive are being sold together Landmark Commercial Realty Advisors is pleased to present 303 Gardenia St and 501 S Olive Ave an incredible opportunity to purchase TWO buildings in the heart of downtown West Palm Beach, Florida. The Properties offer incredible opportunity for a covered land play with existing in place cash flow through retail and residential tenants and with the underlying development opportunity allowed in the zoning district. Both Buildings have a 10 story height limit and a FAR of 2.75.

Supplements: 303 Gardenia St - A two-story mixed-use building. First Floor consists of 5 retail/office units and 2nd floor consists of 7 residential units. 501 S Olive Ave - Situated on 0.20 acres, features a fully built-out office and unique building footprint for existing and future uses.

More Information MLS# RX-10989433

Contract Information

Auction: No Status: Closed Original List Price: 7250000 Sold Price: $5,600,000 Current Price: $5,600,000 Listing Date: 2024-05-21

General Property Description

For Sale: Yes For Lease: No Property Desc: Mixed Use Acres: 0.14 Built Desc: Resale Waterfront: No SqFt Source: Tax Rolls # of Stories: 2 Total Units: 12 % Air Conditioned: 100 Type: Mixed Use Year Built: 1925 Baths - Total: 9

Location, Tax & Legal

Geo Area: PB20 Country: United States State/Province: FL Tax Year: 2023 Zoning: QGD-10 Real Estate Taxes: 59425 Area: 5420 County: Palm Beach Parcel ID: 74434321090010020 Street #: 303 Street Name: Gardenia Street Suffix: Street Zip Code: 33401 Legal Desc: POTTER ADD LT 2 BLK 1 Geo Lat: 26.709506 Geo Lon: -80.052219

Office/Member Info

DXORIGMLNO: RX-10989433 DXORIGMLSID: RML

Status Change Info

Terms of Sale: Cash Under Contract Date: 2024-07-26 Sold Date: 2024-08-26 Sold Price: $5,600,000

Building Info

# of Bays: 5

Location

Airport Access: 1 Beach Area: 1 Central Business Dst: 1 Investment: 1

Type of Building

Commercial: 1 Income: 1 Office/Retail: 1 Resident. Multi-Fam.: 1 Retail: 1

Sale Includes

Building and Land: 1

Avail Info

Copies of Lease: 1 Existing Survey: 1 Full Financials: 1 Photos: 1

Construction

CBS: 1 Hollow Tile: 1

Avail Docs

Survey: 1

Cooling

Other: 1

Heating

Other: 1

Tenant Pays

Common Area Maint.: 1 Electric: 1 Water: 1

Use

Mixed: 1 Retail: 1

Flooring

Other: 1

Utilities

Cable: 1 Public Water: 1

Fire Protect

None: 1

Roof

Barrel: 1 Other: 1

Terms Considered

Cash: 1 Conventional: 1 Exchange: 1 Other: 1

Possession

At Closing: 1

Lease

None: 1

Contingencies

None: 1

Concessions

Seller Concessions: No

Contributions

Buyer Contributions: No

Property Features

Use: Mixed; Retail Type of Building: Commercial; Income; Office/Retail; Resident. Multi-Fam.; Retail Construction: CBS; Hollow Tile Location: Airport Access; Beach Area; Central Business Dst; Investment Sale Includes: Building and Land Avail Docs: Survey Avail Info: Copies of Lease; Existing Survey; Full Financials Flooring: Other Cooling: Other Heating: Other Fire Protect: None Tenant Pays: Common Area Maint.; Electric; Water Utilities: Cable; Public Water Roof: Barrel; Other Terms Considered: Cash; Conventional; Exchange; Other Lease: None Possession: At Closing Contingencies: None
Listing Office: Landmark Commercial Realty Adv
Last Updated: September - 01 - 2024
303 Gardenia Street, West Palm Beach, FL 33401- MLS# RX-10989433
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