2.11 Acres Zoned CG | +40K VPD — Sale in Palm Springs, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Commercial Land
  • Location: Palm Springs, FL 33461

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2.11 Acres Zoned CG | +40K VPD — Sale in Palm Springs, FL, photo 1 of 2
2.11 Acres Zoned CG | +40K VPD — Sale in Palm Springs, FL, photo 2 of 2

Description

Marcus & Millichap is pleased to present 3900 Lake Worth Road, a 2.11 Acre commercial site which is in the City of Palm Springs. The land is currently zoned CG and contains two single family residences which are both on month-to-month leases. The property is situated on Lake Worth Road just East of the Military Trail intersection where both roads average +/-40K VPD there. Additionally, the property is just West of Congress on Lake Worth Road which is where Palm Beach State College’s main campus is located, and the college serves a total population over 37,000. Finally, there are many national retailers in the immediate area which drive traffic and include The Home Depot, USPS, Sherwin Williams, Wawa, AutoZone, Pollo Tropical etc. Under the properties current zoning “Commercial General” there are a number of permitted uses which a new owner could develop there. The FAR for this zoning is .5 and the maximum height is 4 stories or 45 Feet. Therefore, the maximum buildable square feet allowed is up to 183,823 square feet. Also, the square is ideally shaped in a perfect square allowing maximum usage and potential for redevelopment. Lastly. The two single family residences produce a positive return while speaking to the city and planning out what to build. Investment Highlights: • 2.11 Acres Zoned CG With +40 VPD Traffic Count • Situated Between Two Main Corridors - Military Trail & Congress Avenue • Close Proximity to Palm Beach State College's Main Campus (+37,000 Students) • Potential to Build up to 183,823 Square Feet & 4 Stories (45 Feet) • First Time on Market in Over +80 Years

Market Context

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