Office Warehouse
Enterprise Industrial
7535 Enterprise Dr, Riviera Beach, FL 33404
Listing Price: $3,280,000
Investment Overview
Marcus & Millichap, as exclusive advisor, is pleased to offer for sale Enterprise Industrial (the “Property”), a 16,400-square-foot, small-bay industrial property consisting of two concrete buildings in Riviera Beach, Florida, in Palm Beach County. The warehouses contain 36 bay doors, and tenants range in size from 350 to 1,350 square feet. The Property is currently 100-percent occupied with a diverse mix of tenants and has historically maintained high occupancies. All leases have remaining terms of less than one year, with well-below-market rental rates, allowing for immediate value-add by marking renewal rents to market rates, shortly after purchase. The Property is situated on two equal parcels totaling 1.32 acres, with each building having its own unique parcel.
Enterprise Industrial is located one-quarter-mile east of Interstate 95, just north of Blue Heron Boulevard, with easy access and close proximity to major roads and highways. The Property includes predominately small-bay warehouse space, with a few of the units containing a small office component.
The Palm Beach County industrial market has seen a significant rise in demand, with positive absorption and decreasing vacancies creating strong market conditions to push the average asking rents even higher. Enterprise Industrial is an attractive, turnkey, cash-flowing asset, with stabilized occupancy and minimal maintenance requirements, making the property an excellent upside investment.
Enterprise Industrial
Investment Highlights
- Exceptional Location & Demographics:The Property is located in close proximity to Interstate 95, providing easy access to South Florida's major thoroughfares. Additionally, is situated in an area with
- Short-Term Leases: All tenants are on lease terms of a year or less, allowing for immediate rental increases
- Strong Occupancy: The Property is currently 100-percent occupied with a strong historical occupancy
- Rare Investment Proposition: The Property is located in a market with limited available inventory, limited vacancy and strong demand
- Below Market Rent : The current average rent per square foot is around $12.50, with the market rate being closer to $20 per square foot, allowing for a potential 60-percent increase in Rental Income by the end of the first year
Exclusively Listed By
Listing Price: $3,280,000
Investment Highlights
- Exceptional Location & Demographics:The Property is located in close proximity to Interstate 95, providing easy access to South Florida's major thoroughfares. Additionally, is situated in an area with
- Short-Term Leases: All tenants are on lease terms of a year or less, allowing for immediate rental increases
- Strong Occupancy: The Property is currently 100-percent occupied with a strong historical occupancy
- Rare Investment Proposition: The Property is located in a market with limited available inventory, limited vacancy and strong demand
- Below Market Rent : The current average rent per square foot is around $12.50, with the market rate being closer to $20 per square foot, allowing for a potential 60-percent increase in Rental Income by the end of the first year
Investment Overview
Marcus & Millichap, as exclusive advisor, is pleased to offer for sale Enterprise Industrial (the “Property”), a 16,400-square-foot, small-bay industrial property consisting of two concrete buildings in Riviera Beach, Florida, in Palm Beach County. The warehouses contain 36 bay doors, and tenants range in size from 350 to 1,350 square feet. The Property is currently 100-percent occupied with a diverse mix of tenants and has historically maintained high occupancies. All leases have remaining terms of less than one year, with well-below-market rental rates, allowing for immediate value-add by marking renewal rents to market rates, shortly after purchase. The Property is situated on two equal parcels totaling 1.32 acres, with each building having its own unique parcel. Enterprise Industrial is located one-quarter-mile east of Interstate 95, just north of Blue Heron Boulevard, with easy access and close proximity to major roads and highways. The Property includes predominately small-bay warehouse space, with a few of the units containing a small office component. The Palm Beach County industrial market has seen a significant rise in demand, with positive absorption and decreasing vacancies creating strong market conditions to push the average asking rents even higher. Enterprise Industrial is an attractive, turnkey, cash-flowing asset, with stabilized occupancy and minimal maintenance requirements, making the property an excellent upside investment.
Exclusively Listed By
