5+ Acre Development Site

Parcel ID: 00-42-43-27-05-011-0311

West Palm Beach, FL 33411

Price:
$2,650,000
Zoning
AR
Lot Size:
5.1 Acres
Type of Ownership:
Fee Simple

INVESTMENT OVERVIEW

Efficient Layout Potential: The site’s rectangular configuration with dual frontage along 81st Avenue and 3rd Place S supports a clean and functional layout for a 7-lot single-family residential development. Each lot is expected to average over 30,000 square feet, offering generous space for upscale homes.

Infrastructure Ready: Existing streets and water lines are already in place, streamlining the development process and reducing upfront costs.

Prime Residential Setting: Located in a well-established and desirable neighborhood, the area is surrounded by successful residential communities, including several with homes valued at over $1,000,000.

Secluded Yet Connected: The property offers a private, tranquil atmosphere while maintaining excellent connectivity to major routes including the Florida Turnpike, I-95, and key destinations like downtown West Palm Beach and Wellington’s commercial hub.

Top-Rated School Access: Within easy walking distance to Everglades Elementary School, an A-rated and highly sought-after institution, adding strong appeal for families.

This prime 5.1-acre site is located at the southwest corner of 3rd Place S and 81st Avenue, just east of Marginal Road and approximately half a mile south of Southern Boulevard. Situated in unincorporated Palm Beach County, the property offers convenient access to major transportation routes while maintaining a quiet, residential setting.

A conceptual layout with all lots fronting 81st Avenue supports a yield of 7 residential lots, aligning with the existing subdivision directly across the street.

INVESTMENT HIGHLIGHTS

  • 5.1-Acre Residential Development Site Supporting Seven Single-Family Home Lots
  • Rectangular Dual-Frontage Site at 81st Avenue & 3rd Place South for Efficient Design
  • Existing Streets and Utility Infrastructure already in place, Reducing Upfront Costs
  • Residential Location with an Average Household Income of $190k+ within 1-Mile
  • Walking Distance to A-Rated Everglades Elementary, Minutes to Southern Boulevard
  • Rapidly Growing Area with 17%+ Population Growth since 2010 per Experian

EXCLUSIVELY LISTED BY

ETHAN KRAUSS

Director Investments
Tel: (954) 245-3503
FL SL 3552519
ethan.krauss@marcusmillichap.com
North Broward & Palm Beach Counties

JOSEPH THOMAS

Senior Managing Director Investments
Senior Director, National Multi Housing Group
Fort Lauderdale Office
Tel: (954) 245-3492
License: SL FL 3174354
joseph.thomas@marcusmillichap.com

AARON O'CONNOR

Senior Director Investments
Fort Lauderdale Office
Tel: (954) 245-3518
License: FL SL 3143588
aaron.o'connor@marcusmillichap.com
Land / Redevelopment