Boynton Beach 91_Property for Sale
Boynton Beach 91_Property for Sale
801 N Congress Ave, Boynton Beach, FL, 33426, US

Boynton Beach 91

Asset Description

Jones Lang LaSalle (“JLL”) is pleased to exclusively offer this one-of-a-kind opportunity to acquire 91 contiguous acres in the heart of Boynton Beach, FL. With existing zoning of SMU (Suburban Mixed-Use District), Boynton Beach 91 (the “Site”) allows for a mixture of uses including residential, office, retail, and recreational uses offering a visionary developer the chance to create a landmark project. The immense scale and as-of-right zoning of the Site permit the development of at least 1,700 residential units as well as the ability to achieve higher density with the assistance of a development-friendly municipality in Boynton Beach.


The Property is currently improved with a 892K SF shopping center generating $4.7M in revenue with all tenants on short-term or terminable leases, giving a purchaser broad ability to redevelop the Site. The REA governing the Property expires in 2025.

The City of Boynton Beach boasts incredible demographics with an average household income of $102,539, a limited supply pipeline, and development-friendly government which further enhance the viability of a future project. The Site’s Suburban Mixed-Use District (SMU) zoning designation allows for a mixture of residential, office, retail, and recreational uses within low-to-mid-rise structures and offers generous residential density and commercial FAR. The Property’s immediate proximity to I-95 provides residents convenient access to Palm Beach County’s most prominent entertainment and employment destinations – Delray Beach (12 min), Boca Raton (16 min), and West Palm Beach (20 min).


Given its unmatched scale and irreplaceable location coupled with the market’s intensifying tailwinds and a municipality that is eager to assist in the transformation of the Site, Boynton Beach 91 is the most exciting development site in South Florida today.

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Attributes

Building area gross
82,834 m²
Occupancy
94%
Year built
1985
Land area gross
1.24 ha

Media

Investment Highlights

  • A 91-acre development site in the center of Boynton Beach zoned SMU (Suburban Mixed-Use District) allowing for a mixture of uses including residential, office, retail, and other recreational uses.
  • An opportunity to create a visionary development with as-of-right zoning allowing at least 1,700 residential units with the ability to achieve greater density through a development-friendly municipality.
  • An 892K SF cash-flowing asset generating more than $4.7M in revenue with all tenants on short-term or terminable leases and all encumbrances expiring by 2025.
  • Poised to benefit from the insatiable demand for large-scale residential development and other complementary mixed-uses in South Florida.
  • Situated in the heart of Boynton Beach which boasts phenomenal demographics, a plethora of major area demand drivers, and development-friendly governance.
Boynton Beach 91 4_Property for Sale
Boynton Beach 91 4_Property for Sale

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Boynton Beach 91 (0 Properties)

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Last updated
25 Feb 2024