Two Commercial Parcels Sold on Military Trail
Michael Scarpino, CCIM, Senior Associate with NAI Rauch Weaver Norfleet Kurtz & Co. represented the sellers, L & M Baez Family, LP and Mario M. & Lysette Baez, of Key Biscayne, Florida, in the sale of two vacant land parcels totaling 2.64 +/- acres. The smaller 1 acre parcel is zoned UI, Urban Infill and the larger 1.64 acre parcel is zoned CG, General Commercial. Both parcels front Military Trail and are located in an unincorporated section of Palm Beach County, Florida. The subject parcels are slightly south of Lake Worth Road.
The purchaser, Lake Drive Investments, LLC, a real estate development company, plans to develop both parcels for retail and commercial uses. The sale price for both parcels totaled $730,000 or $6.35 per square foot of land.