1415 45th Street
Mangonia Park, FL
Square Ft.
61,453
$56,050,000
A landmark property. A bold next chapter. Explore a unique redevelopment or land-bank opportunity in Palm Beach County, Florida: 52+ acres across five parcels at the former Palm Beach Jai-Alai Arena. The Mangonia Park Tri-Rail station is on the property under a lease with the owner, adding regional connectivity. Located… Read More along the 45th Street corridor with access to I-95. Calling developers, investors and institutional buyers: envision mixed-use residential, hospitality, sports and entertainment, medical, wellness or a campus destination, subject to approvals and existing lease rights. Pursue redevelopment or a long-term land-bank strategy. Chapter 11 sale subject to competitive bidding and court approval. Act now to request property information and sale requirements. PALM BEACH COUNTY FLORIDA A LANDMARK LAND BANK AND REDEVELOPMENT OPPORTUNITY The former Palm Beach Jai-Alai Arena property offers a distinctive opportunity to acquire more than fifty-two acres across five parcels in Palm Beach County, Florida. For developers, institutional purchasers, strategic investors and long-term land holders, this substantial property invites a vision that extends beyond a single building. Located along the Forty-Fifth Street corridor in the Town of Mangonia Park, with a West Palm Beach mailing address, the property combines scale, history and regional transportation connectivity. The Mangonia Park Tri-Rail station occupies part of the property under a lease with the owner, making the station relationship an important feature of the acquisition. A purchaser can evaluate a coordinated land holding, an institutional campus, a destination development or a phased redevelopment strategy. THE LAND BANK OPPORTUNITY A land-bank acquisition can provide time to investigate alternatives before committing to a particular development program. Five parcels offered together allow a buyer to study the site as one coordinated holding rather than beginning with separate acquisitions. This approach may suit an investor with a longer planning horizon, an institution anticipating future space needs or a developer seeking to advance a project in stages. Potential strategies include holding while evaluating uses, pursuing planning and approvals, identifying development partners and sequencing capital commitments around a defined business plan. Evaluate acquisition cost, carrying expenses, conditions, leases, infrastructure and demand. County growth provides context; buyers must establish the site's investment case. PALM BEACH COUNTY POPULATION AND GROWTH The United States Census Bureau estimates Palm Beach County's population at approximately one million five hundred seventy-six thousand as of July, two thousand twenty-five. That is roughly eighty-four thousand more residents than the county's population base in two thousand twenty, representing growth of approximately five point six percent. For a separate year-over-year comparison, the Florida Department of Transportation's April population estimates show the county adding approximately ten thousand three hundred residents between two thousand twenty-four and two thousand twenty-five, or about seven-tenths of one percent. The same state table reports West Palm Beach growing approximately one point two percent during that year. Mangonia Park's estimated population increased approximately eighteen point one percent between two thousand twenty and two thousand twenty-five. Sources: United States Census Bureau QuickFacts and Florida Department of Transportation population estimates. CORPORATE RELOCATIONS AND EXPANSIONS In a March announcement during two thousand twenty-six, the Business Development Board identified headquarters relocations and expansions involving finance, technology, defense, energy and other sectors. Concorde Investment Services relocated its headquarters from Michigan to Boca Raton. Blue Ops, the maritime division of Red Cat Holdings, opened a headquarters in unincorporated Palm Beach County. Voloridge announced further investment in Jupiter and plans for up to two hundred additional high-tech jobs. D-Wave announced plans to relocate from California to the Boca Raton Innovation Campus by the end of two thousand twenty-six. Ampera announced a Palm Beach Gardens headquarters and plans for two hundred new jobs. G.O.A.T. Foods expanded into a substantial headquarters in unincorporated Palm Beach County, with plans to add one hundred fifty jobs. These examples include completed moves and announced plans. Projected jobs should not be treated as positions already filled. They illustrate the range of companies choosing the county for business operations and future investment. Source: Business Development Board of Palm Beach County, March, two thousand twenty-six. A SUBSTANTIAL HOUSEHOLD AND EMPLOYMENT MARKET Census QuickFacts reports approximately six hundred five thousand households in Palm Beach County, with median household income of approximately eighty-four thousand dollars, based on its multiyear estimates ending in two thousand twenty-four. Source: United States Census Bureau QuickFacts. RAIL CONNECTIVITY AND REGIONAL ACCESS The on-property Mangonia Park Tri-Rail station provides an established transportation relationship for a buyer to investigate. Tri-Rail links communities across Palm Beach, Broward and Miami-Dade counties. A future project could study how station access might serve residents, employees, visitors or institutional users. The Forty-Fifth Street corridor also connects with Interstate Ninety-Five, supporting evaluation of a destination intended to serve a regional audience. Planning should address pedestrian connections, circulation, accessibility, parking, station operations and the existing lease. Rail access does not automatically confer additional density or development rights. POTENTIAL REDEVELOPMENT VISIONS TRANSIT ORIENTED RESIDENTIAL AND MIXED USE Explore residences combined with neighborhood services and gathering spaces. Concepts could include market-rate housing, attainable or workforce housing and senior living, depending on market findings, existing rights and approvals. MEDICAL WELLNESS AND LIFE SCIENCES Consider a coordinated campus for medical offices, outpatient services, wellness providers, research or related organizations, with shared amenities and a recognizable destination identity. INNOVATION EDUCATION AND BUSINESS Evaluate an institutional campus, workforce training center, research setting, corporate operations or complementary business occupants. A phased strategy could respond to an organization's evolving space needs. SPORTS ENTERTAINMENT AND EVENTS Build upon the property's identity as a gathering place. Investigate an arena, training destination, entertainment venue or event-centered redevelopment with complementary visitor experiences. HOSPITALITY AND CONVENTIONS Study a hotel, resort or gathering destination with meeting space, dining and wellness components, designed around business gatherings, recreation or specialized events. These are concepts for evaluation, not approved plans or guaranteed permitted uses. INFRASTRUCTURE FINANCING OPTIONS Water, wastewater, stormwater, roads and public facilities can materially affect a redevelopment's scope, timing and capital requirements. A prospective buyer should investigate infrastructure alongside market demand and land use. Florida law provides mechanisms that qualified projects and public entities may evaluate. A properly established community development district can have authority to finance eligible infrastructure, including water supply, sewer, wastewater and water-management systems, using authorized financing mechanisms that may include bonds and assessments. Whether a district would be appropriate for this site requires professional analysis, establishment approvals and a viable repayment structure. Bonds are repayable obligations, and assessments can affect project economics. Florida's Department of Environmental Protection administers Clean Water and Drinking Water State Revolving Fund programs for eligible utility and environmental infrastructure. Qualified sponsors may include local governments, special districts and, for eligible drinking water projects, private utilities. A buyer could investigate whether a utility or governmental partnership offers a suitable route for eligible improvements. Funding depends on eligibility, priority, available funds and approvals. No district, bond allocation, grant or utility financing commitment is represented as established for this property. Sources: Florida Statutes governing community development districts and Florida Department of Environmental Protection. ECONOMIC DEVELOPMENT SUPPORT Palm Beach County maintains an economic development ad valorem tax exemption program for qualifying new and expanding businesses. The county states that its renewed program continues through August, two thousand thirty-four. Criteria include qualifying improvements, economic impact and required job creation and maintenance. Approval is discretionary and concerns qualifying county taxes. It is not an automatic exemption for acquiring or holding this property. A purchaser considering an employment-producing project may investigate this program and other appropriate economic development resources. Source: Palm Beach County Housing and Economic Development. PROPERTY HISTORY AND NEXT STEPS The Listing Agent sold the former Palm Beach Jai-Alai property to the current owner in nineteen ninety-nine. His longstanding connection with the property and the family provides a starting point for buyers seeking available information and perspective. The next chapter could involve focused redevelopment, an institutional destination, complementary uses or a strategic land-bank acquisition. Buyers should confirm acreage, title, existing lease rights, zoning, infrastructure, property conditions and development capacity through independent due diligence. The property is offered through Chapter Eleven proceedings, subject to competitive bidding, governing sale requirements and Bankruptcy Court approval. Interested purchasers should act promptly to request property information, review the current timetable and begin their investigation. Read Less
Courtesy of 920 Real Inc. 561-391-4141
Listing Snapshot
Days Online
15
Last Updated
Property Type
Business
Square Ft.
61,453
Lot Size
53 Acres
Year Built
1973
MLS Number
B26085340
Additional Details
Building
Built in 1973, 1 building, 2 stories
Cooling
Central Air
Lot
53 acres
Parking
200 total parking spaces
Property
Resale
Security Features
None
Sewer
Public Sewer
Taxes
Parcel Number: 44434305000140010, Annual Amount: $270,297, Assessed Value: $1.24656e+07, Legal Description: 5-43-43~ TH PT OF GOV LT 14 LYG SLY OF SAL RY (LESS NLY 200 FT) & TH PT OF GOV LT 15 LYG NLY OF SR 702 (LESS PL OF KINGS ADD~ WLY 425 FT OF, Year: 2025, Zoning: CR (city)
Utilities
Electricity Connected, Sewer Connected, Water Connected, Water Source: Public
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