255 NE 3rd Str

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255 NE 3rd Str

Boca Raton, FL 33432
Asking Price
$2.60M
Asset Type
Land
Class
Class B

What's Special

255 NE 3rd Street is situated in the downtown core of Boca Raton, Florida, within a high-density urban district. The property is located blocks from the Brightline Boca Raton Station, providing regional rail connectivity to Miami, Fort Lauderdale, and West Palm Beach. The surrounding neighborhood is characterized by a mix of luxury multifamily residential developments, professional office buildings, and upscale retail centers such as Mizner Park and Royal Palm Place. Federal Highway is accessible within a short drive, offering North-South transit across the county. The site is suited for commercial or mixed-use development consistent with urban infill projects. Potential use cases include luxury residential units, boutique hotel facilities, or Class A office space with ground-floor retail. Given the location’s walkability and proximity to corporate headquarters and high-end amenities, the typical profile for this asset involves developers or long-term investors targeting the South Florida professional and luxury demographic. The land offers a cleared footprint ready for architectural planning and entitlement processes within the city’s central business district.

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NOI
$80,000
Cap Rate
3.08%
DSCR
0.52
Underwater
Cash-on-Cash
-9.51%
Monthly Payment
$12,838.644
Annual Cash Flow
$-74,063.729

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