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5185 Atlantic Ave - Flo Delray - 5 Acres 5 Acres of Commercial Land Offered at $10,051,690 CAD in Delray Beach, FL 33484
INVESTMENT HIGHLIGHTS
- 5 Acre Lot With Direct Access to Atlantic Avenue in the Rapidly Growing City of Delray Beach
- Located Just Off Two Major Thoroughfares With Direct Access to Local Retail, Restaurants and Everyday Conveniences
- Extensive Planning With City Has Already Been Done
- Ability to Develop up to 116 Apartment Units or 58 Townhomes
- Qualifies For Up To Approximately 234 Units with Structured Parking Under Florida's Live Local Act (SB102)
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present The Flo, a rare 5-acre multifamily development site located at 5185 Atlantic Avenue in Delray Beach, Florida. Situated in the heart of one of South Florida’s most rapidly growing submarkets, the property is zoned RM – Multi-Family (Medium Density) under the City of Delray Beach, allowing for up to 116 apartment units or 58 townhomes by right.
In addition to existing zoning entitlements, the property also qualifies under Florida’s Live Local Act (SB 102). Based on an architect’s Live Local study, the site could potentially accommodate approximately 234 units with structured parking — significantly increasing development potential and enhancing overall project feasibility.
Strategically positioned along Atlantic Avenue just west of Military Trail, The Flo offers immediate access to major thoroughfares including I-95 and Florida’s Turnpike, as well as proximity to major employment centers, A-rated schools, and regional shopping destinations such as Delray Marketplace, Downtown Delray Beach, and the expanding retail corridors along Atlantic and Jog Road.
This infill development site is surrounded by a mix of newly built and established residential communities, making it ideal for either a build-for rent multifamily project or a for-sale townhome product catering to a wide range of housing needs in the area. The property is currently unencumbered by existing structures, providing a clean slate for immediate development.
With West Delray Beach experiencing sustained demand from both renters and homeowners, and with limited entitled land remaining, The Flo represents a compelling opportunity to capitalize on one of Palm Beach County’s most desirable and supply-constrained residential corridors.
In addition to existing zoning entitlements, the property also qualifies under Florida’s Live Local Act (SB 102). Based on an architect’s Live Local study, the site could potentially accommodate approximately 234 units with structured parking — significantly increasing development potential and enhancing overall project feasibility.
Strategically positioned along Atlantic Avenue just west of Military Trail, The Flo offers immediate access to major thoroughfares including I-95 and Florida’s Turnpike, as well as proximity to major employment centers, A-rated schools, and regional shopping destinations such as Delray Marketplace, Downtown Delray Beach, and the expanding retail corridors along Atlantic and Jog Road.
This infill development site is surrounded by a mix of newly built and established residential communities, making it ideal for either a build-for rent multifamily project or a for-sale townhome product catering to a wide range of housing needs in the area. The property is currently unencumbered by existing structures, providing a clean slate for immediate development.
With West Delray Beach experiencing sustained demand from both renters and homeowners, and with limited entitled land remaining, The Flo represents a compelling opportunity to capitalize on one of Palm Beach County’s most desirable and supply-constrained residential corridors.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Price | $10,051,690 CAD | Lot Size | 5.00 AC |
| Price Per AC | $2,010,338.06 CAD |
| Price | $10,051,690 CAD |
| Price Per AC | $2,010,338.06 CAD |
| Lot Size | 5.00 AC |
CONTACTS
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Daniel Cunningham -
River Rhoads -
Evan Richardson -
Dillon Majeski -
Cory Sanchez -
Jason Nowik -
Marcus & Millichap
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5185 Atlantic Ave - Flo Delray - 5 Acres
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