114 S Olive Ave - Restaurant FOR SALE


West Palm Beach, FL 33401- Downtown West Palm Beach
$12,900,000 USD
561-281-6656
114 S Olive Ave, West Palm Beach, FL for Sale
$12,900,000 USD
Restaurant - FOR SALE
1/15
null | Request Cap Rate

114 S Olive Ave
West Palm Beach, FL 33401
Downtown West Palm Beach


HIGHLIGHTS

  • Highly desirable and ideal location for owner-user and/or family office with anticipated plans of future expansion
  • The property previously underwent structural, electrical, hurricane impact glass and plumbing renovations, enabling the addition of two stories
  • Building sale includes a full liquor license (4COP), only supplied in limited quantities
  • Ability to generate additional income through the lease-up of the ground floor retail space
  • Located in the heart of downtown West Palm Beach and features a historically designated and charming façade

OVERVIEW

This one-of-a-kind historical mixed-use building is comprised of 13,083 SF, stands at three stories in height, and is situated on a 0.11-acre parcel in the heart of downtown West Palm Beach, Florida, with superb positioning directly on Olive Avenue. The immediate 1-mile radius is home to approximately 15,181 residents, boasting an average annual household income of approximately $138,680 and an anticipated population growth rate of nearly 40% over the next five years. The exceptional positioning of the asset allows for total immersion in the downtown West Palm Beach culture and lifestyle, which has attracted a litany of major tenants. Notably, the Building underwent structural, electrical, hurricane impact glass and plumbing renovations in 2016 and 2018, enabling an additional two stories of height, which would bring the total building height to five stories, the maximum allowance in the Clematis waterfront district (CWD).

FOR SALE DETAILS

PRICE

$12,900,000 USD

PRICE/SF

$986 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Bar, Loft/Creative Space, Industrial Live/Work Unit

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1923

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

CWD-CD

APN/PARCEL ID

74-43-43-21-01-005-0082

ASK ABOUT THIS PROPERTY

Bastian SchauerColliersMore Info
561-281-6656

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Bastian SchauerColliersMore Info
561-281-6656

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.