3000 Ocean Way in Jupiter, FL
Located in Jupiter, Florida is a new oceanfront condominium called 3000 Ocean. Presented by elite marketing advisor, CB Richard Ellis, the condo community is comprised of seven stories and boasts only 12 large units. 3000 Ocean was built in 2010 and cost an estimated $18 million to construct. Some of the qualities that make 3000 Ocean so unique are its views of the 101-acre preserve just south of the property, in addition to its access to miles and miles of sandy beaches.
Available Condos for Sale at 3000 Ocean Way
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The condos for sale in 3000 Ocean are considered some of the most desirable condos in Jupiter. Currently, all units are still available for sale, providing investors complete control of the individual sales within 3000 Ocean and its HOA. Comparable properties near the condo feature asking prices near $1,350,000, which includes 34 comparable sales within the last year, with averaging sales of $378 per square foot. $19,499,000 is the cumulative retail price of 3000 Ocean.
All of the condos boast large balconies overlooking the beach and ocean. Each unit features state-of-the-art architecture and construction with impact glass and well-designed floor plans and layouts. On the first floor of the building is gated and covered parking with 24 private spaces. Only 3 of the units have been “built out”, all of the others are available. It is no wonder 3000 Ocean expects total sell-out potential.
SELL OUT PROSPECTIVE - Estimated by CBRE, 3000 Ocean has been projected to have a sell out of over $17 million or $378 per square foot. Comparable condominiums have had asking prices around $378 per square foot or an average sale of $1,182,000. The average asking price for comparable condominiums in the surrounding area is $1,350,000 or $460 per square foot. Each of the units was previously listed on the retail market at an average of $1,624,900 per unit or $425 per a/c square footage. Cumulatively, the retail prices total $19,499,000.
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DISCOUNT TO REPLACEMENT BENEFITS - The distinctive design and location of 3000 Ocean provides a tremendous value on the condos and gives it an edge. CBRE estimates the cost of obtaining the land and then building the condo to exceed $430 per square foot, which is greater than the projected sell-out potential for each unit.
AMENITIES OF THE BUILDING - Each unit within 3000 Ocean ranges in size around 3,820 square feet and offers a number of lavish details. The condos are designed with a “flow through” floor plan, featuring spacious balconies with panoramic views of the ocean. Residents enjoy direct access to the beach, covered terraces by the pool, spa and clubroom. Private elevators bring residents directly to the foyer of each floor. Lastly, the location is one of 3000 Ocean’s best features. Residents will be immersed in the best that Jupiter has to offer, including fine and casual dining, outstanding shopping, golf and country club amenities.