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4947 Pine Ridge Ln - Pine Ridge Gardens 2.22 Acres of Commercial Land Offered at $3,123,120 CAD in West Palm Beach, FL 33417
Investment Highlights
- Fully approved multifamily site allows for development of a 36-unit apartment community, reducing entitlement risk and accelerating time to market.
- Dense and growing surrounding population with strong household incomes and $3.3 billion in consumer spending underpins long-term demand.
- Alternative high-demand uses are supported, including assisted living, rehabilitation, and religious facilities, broadening investment options.
- Prime infill location between I-95 and Florida's Turnpike offers strong accessibility to Downtown West Palm Beach and Palm Beach Int'l Airport.
Executive Summary
Showcasing a contemporary, well-balanced residential façade, the elevation plans feature clean rooflines, modern finishes, and a strong vertical rhythm. Large, evenly spaced windows create a symmetrical visual cadence while signaling bright, naturally lit interiors. The overall architectural approach delivers a polished look that aligns with current renter expectations, supporting strong marketability.
The property's zoning and approvals also allow flexibility beyond traditional multifamily use, with additional development options including assisted living or nursing facilities, rehabilitation centers, and religious establishments, broadening the appeal to various investors and developers seeking adaptable land in a high-demand corridor.
Positioned between Interstate 95 and Florida's Turnpike, the site offers exceptional connectivity to Downtown West Palm Beach and Palm Beach International Airport (PBI). On the edge of the Haverhill community, the surrounding area features a dense residential population supported by nearby amenities and services. Within a 5-mile radius, the population reached 305,190 in 2025, projected by CoStar to exceed 323,000 by 2030. Average household incomes of $90,170 support approximately $3.3 billion in consumer spending, reinforcing the area's status as a growing, sustainable market.
Property Facts
1 Lot Available
Lot
| Price | $3,123,120 CAD | Lot Size | 2.22 AC |
| Price Per AC | $1,406,810.82 CAD |
| Price | $3,123,120 CAD |
| Price Per AC | $1,406,810.82 CAD |
| Lot Size | 2.22 AC |
2.2-acre vacant lot approved in the Fall 2025 for development of 36 apartment units, including 18 two-bedroom/two-bathroom units and 18 one-bedroom/one-bathroom units. Property features 36,335 SF of buildable space within a total of 95,832 SF.
Description
4947 Pine Ridge Lane is situated in a well-established residential area of West Palm Beach, Florida. The property enjoys convenient access to major thoroughfares, including Interstate 95 and the Florida Turnpike, which provide seamless connectivity throughout Palm Beach County and South Florida. The neighborhood is in close proximity to urban amenities such as shopping centers, local dining, and essential services, as well as a short drive to downtown West Palm Beach, which offers cultural attractions, business hubs, and entertainment options. The surrounding area includes a mix of single-family homes and multifamily residences, creating a balanced community atmosphere. Nearby schools, such as Hope-Centennial Elementary and Bear Lakes Middle School, along with multiple parks, add to the appeal for family-oriented tenants. The property benefits from being less than 10 miles from Palm Beach International Airport, offering strong accessibility for travel, and is within reach of regional hotspots like CityPlace and Palm Beach Lakes Boulevard retail corridors. Residents also have access to nearby public golf courses and recreational facilities, enhancing the overall lifestyle experience. This location combines suburban tranquility with the convenience of urban proximity, making it a suitable area for long-term residential occupancy or investment potential.
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $635,209 CAD |
Property Taxes
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4947 Pine Ridge Ln - Pine Ridge Gardens
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