382 Plant Ter, West Palm Beach, FL 33406
$2,800,000
- Built 1945
- Palm Beach County
19 Approved Lots $725K Target ASP $13.78M Revenue Rose of Sharon is an approved Palm Beach County infill subdivision planned for 19 detached single-family cottage homes. The acquisition thesis is to control a de-risked entitlement in an established West Palm Beach submarket and monetize through vertical development, builder joint venture, finished lot disposition, or bulk sale to a strategic builder. Important underwriting note: at a $2.80 million land purchase and a $725,000 average sale price, the base case is tight after full governmental fees, site work, financing, marketing, contingency and developer overhead. The project becomes materially attractive through one or more value levers: construction cost optimization, higher average sales prices, density optimization to 20-21 homes, or a builder/JV structure that captures construction and developer economic.
