Redevelopment opportunity. 3 parcels assemblage. Prime location with water views to Intracoastal and partial views of the ocean. Possibility to develop 16 luxury extended stay units in 4 story building with rooftop swimming pool. Plans not approved. Zoning: BRT-25-R. Buyer to confirm all information independently during due diligence. Renderings and survey are in the attachments.
Property is fully occupied and operated as airbnb. Current CAP 7% on purchase price. Potential pro forma on new development is double digits. Receive income while waiting on the approvals.
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