3601 Broadway
West Palm Beach, FL 33407
Land For Sale · 0.29 AC

Union Street Partners LLC is pleased to present this covered land play opportunity in West Palm Beach, Florida. This property is located on Broadway, a north south corridor connecting West Palm Beach to Riviera Beach. The property is 2 miles from downtown West Palm Beach and .3 miles from Northwood Village. Northwood Village has a burgeoning arts scene and is turning into the design district and cultural hub of West Palm Beach. The city of West Palm Beach is pro development along this corridor. The West Palm Beach Community Development Agency has been a supporter of upzoning along Broadway from the current as of right 3 floors to six. The city is actively working on development regulations to focus on the form of streets, public spaces, and buildings as the framework for walkable, mixed-use places. The Northwood Village is currently in the midst of a development boom. The area is undergoing significant redevelopment, with multiple projects underway to revitalize the area. These developments include new residential units, retail spaces, and public areas, aiming to create a vibrant, dynamic destination. Currie Park is 1 mile from the property and is in the start phase of a $40 million renovation which will include a amphitheater, walking trails and open areas. The Northwood Historic District is across the street with homes that have sold for $1 million+. The current zoning of BMUD1 - Broadway Mixed Use Development is a form based code, which means if a developer wanted to only build units, the amount of units would be based on setback and height requirements. The property has 100 feet of frontage along Broadway and 125 feet along 35th Street. Setback requirements are no greater than 5 feet along Broadway with a minimum of 80 percent of the Broadway frontage line and a setback of 15 feet in the back of the property. The West Palm Beach Community Development Agency has proposed increasing the density along Broadway to 6 floors. The property is currently operating as a residential rental with a house that is renting for $5,000 a month and three additional units renting for $1,500 each. The Northwood / Broadway Site offers a developer or investor several value add options: An owner user could occupy all or some of the space for either residential or commercial use while renting out a portion. A developer could build a residential, mixed use, or commercial project. Or lastly, a land investor could simply continue to operate as a rental while the entire neighborhood and street develops into an entirely new vibrant live work area. There is no doubt that the Broadway / Northwood Corridor will look completely different in the near future as the construction boom is underway.