400 Metcalf Court
Prime West Palm Beach Redevelopment Opportunity
Marketing description
On behalf of ownership, the Colliers | Rubin Schauer Investment Sales Team, as the exclusive agent, is pleased to present for sale 400 Metcalf Court, a rare infill redevelopment opportunity strategically positioned within one of West Palm Beach’s most rapidly evolving neighborhoods. Located directly across from the planned $2 billion redevelopment of Rybovich Marina and immediately south of a new 100-home residential community being developed by GL Homes and Huizenga, the property is uniquely positioned to benefit from the significant investment and transformation occurring throughout the surrounding area.
The 0.76-acre site offers substantial redevelopment potential, with a potential pathway to incorporate Metcalf Road into a future development plan, increasing the overall site area to approximately one acre. Currently zoned SF14-C2, the property may offer opportunities for increased density through rezoning or the utilization of Florida’s Live Local Act.
The property is currently improved with twelve multifamily buildings occupied by below-market, short-term leases, generating interim income while preserving flexibility for future redevelopment. The combination of existing cash flow, development optionality, and proximity to transformative residential and waterfront projects creates a compelling opportunity to acquire a strategically located land play in the path of West Palm Beach’s continued growth.
Investment highlights
- Positioned Between Major Growth Catalysts: Located directly across from the planned $2 billion Rybovich Marina redevelopment and just south of GL Homes and Huizenga’s The Estates at NOMAR.
- Transformational Redevelopment Opportunity: Rare opportunity to acquire a strategically located infill redevelopment site in one of West Palm Beach’s fastest-growing neighborhoods, with multiple avenues to unlock additional density and value.
- Path to Expanded Development Footprint: The 0.76-acre site may offer the ability to incorporate Metcalf Road into a future development plan, creating an overall site area of approximately one acre and enhancing future development potential.
- Current Income with Future Flexibility: Twelve existing multifamily buildings provide interim cash flow through below-market leases while the short-term nature of the tenancy preserves flexibility for future redevelopment and repositioning.
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