501 S Olive Avenue, West Palm Beach, FL 33401
$5,600,000
Property Type:
Commercial Sale
Lot Size (sq. ft.):
9,148
Status:
Closed
Current Price:
$5,600,000
List Date:
5/21/2024
Last Modified:
1/13/2026
Overview
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:
Listing Details MLS# R10989439
General Property Information
- Property Sub Type
- Office
- Building Area Source
- Public Records
- Year Built
- 1925
- Lot Size Area
- 9147.6
- Lot Size Acres
- 0.21
- Stories
- Yes
Property Features
Business Type:
Commercial; Retail
Documents Available:
Existing Survey
Flooring:
Other
Heating:
Other
Possession:
Close Of Escrow
Sale Includes:
Building; Land
Tenant Pays:
Common Area Maintenance; Electricity; Insurance; Maintenance; Taxes
Cooling:
Other
Listing Terms:
Cash; Conventional; Trade; Other
Roof:
Barrel; Other
Security Features:
Smoke Detector(s); None
Structure Type:
Office
Utilities:
Cable Available
Water Source:
Public
Showing Requirements:
Appointment Only; Call Listing Agent
Contingencies:
None
Contract Information
- Comp Sale YN
- No
- Listing Contract Date
- 2024-05-21
- Original List Price
- 7250000
Location and Legal
- Country
- United States
- County Or Parish
- Palm Beach
- County Parish Name
- Palm Beach
- Street Number
- 501
- Street Direction Prefix
- S
- Street Name
- Olive
- Street Suffix
- Avenue
- City Name
- West Palm Beach
- State Or Province
- FL
- Postal Code
- 33401
- Area
- 5420
- Geographic Area
- PB20
- Parcel Number
- 74434321090020011
- Zoning
- QGD-10
- Property Description
- Office
Financial Information
- Tax Annual Amount
- 30923
- Tax Year
- 2023
- Tax Legal Description
- POTTER ADD LTS 1 & 2 /LS W 15 FT/ BLK 2
Status Change Information
- Major Change Timestamp
- 2025-03-15T05:00:00Z
- Major Change Type
- Status Change
- Price Change Timestamp
- 2024-06-06T16:55:08Z
- Status Change Date
- 2024-08-30
- Under Contract Date
- 2024-07-26
- Close Date
- 2024-08-26
- Close Price
- 5600000
- Buyer Financing
- Cash
More Information
Building and Property Details
- # Of Bays
- Yes
- # Of Toilets
- Yes
- % Air Conditioned
- 100
- Maximum Ceiling Height
- 12
Contributions
- Buyer Contributions
- No
Price Calculations
- Original List Price To Close Price
- 1.29
Originating Details
- Originating System Key
- 20240517182511621556000000
- Originating System ID
- M00000170
Currently Not Used
- Number Of Units Total
- 1
Office/Member Information
- DXORIGMLSID
- RML
Flooring
- Other
- Yes
Documents Available
- Existing Survey
- Yes
- Photos
- Yes
Structure Type
- Office
- Yes
Tenant Pays
- Common Area Maintenance
- Yes
- Electricity
- Yes
- Insurance
- Yes
- Maintenance
- Yes
- Taxes
- Yes
Possession
- Close Of Escrow
- Yes
Utilities
- Cable Available
- Yes
Business Type
- Commercial
- Yes
- Retail
- Yes
Heating
- Other
- Yes
Sale Includes
- Building
- Yes
- Land
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
- Trade
- Yes
- Other
- Yes
Roof
- Barrel
- Yes
- Other
- Yes
Security Features
- Smoke Detector(s)
- Yes
- None
- Yes
Water Source
- Public
- Yes
Cooling
- Other
- Yes
Showing Requirements
- Appointment Only
- Yes
- Call Listing Agent
- Yes
Contingencies
- None
- Yes
Listing Office:
Landmark Commercial Realty Adv
Last Updated: January - 13 - 2026
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