561303 Gardenia Street, West Palm Beach, FL 33401
$5,600,000
Property Type:
Commercial Sale
Status:
Closed
Current Price:
$5,600,000
List Date:
5/21/2024
Last Modified:
1/13/2026
Description
303 Gardenia and 501 S Olive are being sold together
Landmark Commercial Realty Advisors is pleased to present 303 Gardenia St and 501 S Olive Ave an incredible opportunity to purchase TWO buildings in the heart of downtown West Palm Beach, Florida.
The Properties offer incredible opportunity for a covered land play with existing in place cash flow through retail and residential tenants and with the underlying development opportunity allowed in the zoning district. Both Buildings have a 10 story height limit and a FAR of 2.75.
Supplements: 303 Gardenia St - A two-story mixed-use building. First Floor consists of 5 retail/office units and 2nd floor consists of 7 residential units. 501 S Olive Ave - Situated on 0.20 acres, features a fully built-out office and unique building footprint for existing and future uses.
More Information MLS# R10989433
Contract Information
Comp Sale YN: No
Listing Date: 2024-05-21
Status: Closed
Original List Price: 7250000
Sold Price: $5,600,000
Current Price: $5,600,000
Location and Legal
County Or Parish: Palm Beach
County Parish Name: Palm Beach
City Name: West Palm Beach
Postal Code: 33401
Geographic Area: PB20
Property Description: Mixed Use
Country: United States
Street Number: 303
Street Name: Gardenia
Street Suffix: Street
State Or Province: FL
Area: 5420
Parcel Number: 74434321090010020
Zoning: QGD-10
General Property Information
Number Of Units Total: 12
Lot Size Area: 6098.4
Stories: 2
Property Sub Type: Mixed Use
Building Area Source: Public Records
Year Built: 1925
Lot Size Acres: 0.14
Remarks and Miscellaneous
Public Historical Remarks: Building Type: Y
Office/Member Information
DXORIGMLSID: RML
Status Change Information
Buyer Financing: Cash
Major Change Timestamp: 2025-03-15T05:00:00Z
Major Change Type: Status Change
Price Change Timestamp: 2024-06-06T16:55:26Z
Status Change Date: 2024-08-30
Under Contract Date: 2024-07-26
Close Date: 2024-08-26
Close Price: 5600000
Flooring
Other: 1
Property Condition
Resale: 1
Documents Available
Copy Of Lease(s): 1
Existing Survey: 1
Financial Statement: 1
Photos: 1
Structure Type
Office: 1
Retail: 1
Tenant Pays
Common Area Maintenance: 1
Electricity: 1
Maintenance: 1
Water: 1
Location of Property
Beach Access: 1
Central Business District: 1
Near Airport: 1
Possession
Close Of Escrow: 1
Utilities
Cable Available: 1
Building and Property Details
# Of Bays: 5
# Of Toilets: 9
% Air Conditioned: 100
Maximum Ceiling Height: 12
Business Type
Commercial: 1
Retail: 1
Heating
Other: 1
Sale Includes
Building: 1
Land: 1
Construction Materials
CBS: 1
Hollow Tile: 1
Listing Terms
Cash: 1
Conventional: 1
Trade: 1
Other: 1
Roof
Barrel: 1
Other: 1
Security Features
None: 1
Water Source
Public: 1
Cooling
Other: 1
Showing Requirements
Appointment Only: 1
Call Listing Agent: 1
Contingencies
None: 1
Contributions
Buyer Contributions: No
Price Calculations
Original List Price To Close Price: 1.29
Financial Information
Tax Annual Amount: 59425
Tax Year: 2023
Tax Legal Description: POTTER ADD LT 2 BLK 1
Originating Details
Originating System Key: 20240516213515910482000000
Originating System ID: M00000170
Property Features
Business Type: Commercial; Retail
Documents Available: Copy Of Lease(s); Existing Survey; Financial Statement
Flooring: Other
Heating: Other
Location of Property: Beach Access; Central Business District; Near Airport
Possession: Close Of Escrow
Property Condition: Resale
Sale Includes: Building; Land
Tenant Pays: Common Area Maintenance; Electricity; Maintenance; Water
Construction Materials: CBS; Hollow Tile
Cooling: Other
Listing Terms: Cash; Conventional; Trade; Other
Roof: Barrel; Other
Security Features: None
Structure Type: Office; Retail
Utilities: Cable Available
Water Source: Public
Showing Requirements: Appointment Only; Call Listing Agent
Contingencies: None
Listing Office:
Landmark Commercial Realty Adv
Last Updated: January - 13 - 2026
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