5060 N Ocean Dr
Riviera Beach, FL 33404
Condado · Land For Sale
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1.12 AC
Investment Highlights
- Beachfront site in Palm Beach County
- Escalating pricing and market niche for boutique development
- Proximity to amenities
Property Facts
Description
Colliers is pleased to present the opportunity to acquire the Condado Development Site, an oceanfront development opportunity located at 5060 N. Ocean Drive, Riviera Beach, FL 33404 in Palm Beach County. The Board of Directors has engaged Colliers to explore strategic sale opportunities for the property, with the unanimous support of the unit owners. The Condado is an aging three story co-op built in 1966 comprising 13 units. The property features private beach access. The Condado Site is approximately 1.115 acres, with 138 feet of frontage on the Atlantic Ocean located on Singer Island, directly north of Palm Beach Island. This site offers developers the opportunity to build a boutique, ultra-luxury, beachfront residential project to capitalize on the influx of wealth to Palm Beach County. The inplace RM-20 zoning allows for a maximum density of 20 units per acre on the site, a FAR of 1.30, and a maximum height of 200 feet.
