501 S Olive Avenue, West Palm Beach, FL 33401
$5,600,000
Property Type:
Comm/Industry
Baths:
1
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-10989439
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: Office
Acres: 0.21
Waterfront: No
SqFt Source: Tax Rolls
# of Stories: 1
Total Units: 1
% Air Conditioned: 100
Type: Office
Year Built: 1925
Baths - Total: 1
Location, Tax & Legal
Geo Area: PB20
Country: United States
State/Province: FL
Tax Year: 2023
Zoning: QGD-10
Real Estate Taxes: 30923
Area: 5420
County: Palm Beach
Parcel ID: 74434321090020011
Street #: 501
Street Dir: S
Street Name: Olive
Street Suffix: Avenue
Zip Code: 33401
Legal Desc: POTTER ADD LTS 1 & 2 /LS W 15 FT/ BLK 2
Geo Lat: 26.709165
Geo Lon: -80.052204
Office/Member Info
DXORIGMLNO: RX-10989439
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: 1
Type of Building
Commercial: 1
Office Space: 1
Office/Retail: 1
Sale Includes
Building and Land: 1
Avail Info
Existing Survey: 1
Photos: 1
Avail Docs
Survey: 1
Cooling
Other: 1
Heating
Other: 1
Tenant Pays
Common Area Maint.: 1
Electric: 1
Insurance: 1
Taxes: 1
Use
Professional Office: 1
Flooring
Other: 1
Utilities
Cable: 1
Public Water: 1
Fire Protect
Smoke Detector: 1
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: Professional Office
Type of Building: Commercial; Office Space; Office/Retail
Sale Includes: Building and Land
Avail Docs: Survey
Avail Info: Existing Survey
Flooring: Other
Cooling: Other
Heating: Other
Fire Protect: Smoke Detector; None
Tenant Pays: Common Area Maint.; Electric; Insurance; Taxes
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
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