$6,900,000
West Palm Beach, FL 33401
MLS# RX-10989433
Status: Closed
9 baths
1 / 7
Property 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.
Details
Contract Information
Status: Closed
Original List Price: 7250000
Auction: No
Sold Price: $5,600,000
Current Price: $5,600,000
Listing Date: 2024-05-21
General Property Description
Type: Mixed Use
For Sale: Yes
For Lease: No
Property Desc: Mixed Use
Year Built: 1925
Built Desc: Resale
SqFt Source: Tax Rolls
# of Stories: 2
Total Units: 12
Baths - Total: 9
Acres: 0.14
% Air Conditioned: 100
Waterfront: No
Location Tax Legal
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
Status Change Info
Under Contract Date: 2024-07-26
Sold Date: 2024-08-26
Sold Price: $5,600,000
Terms of Sale: Cash
Building Info
# of Bays: 5
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
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.
Listing Office: Landmark Commercial Realty Adv
Last Updated: September - 01 - 2024
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