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Warehouse

1330 S Killian

1330 S Killian Dr, West Palm Beach, FL 33403

Listing Price: $1,700,000

Cap Rate
4.10%
Gross SF
8,500
Price/Gross SF
$200.00
Lot Size
0.49 acres
Year Built
1975
Rentable SF
8,500

Investment Overview

Marcus & Millichap, as the exclusive advisor, is pleased to present for sale 1330 S Killian (the “Property”), an 8,500-square-foot, small-bay industrial building located on a half-acre lot in Lake Park, Florida. The Property boasts 26 bay doors, with 14-foot ceilings and 12-foot clear heights, and its tenants range in size from 250 to 725 square feet. The Property is currently 100-percent occupied with a diverse mix of tenants and has historically maintained high occupancies. All tenants are on month-to-month terms that come with well-below-market rental rates, a factor that allows for continuous and immediate increase in rental rates upon purchase.
1330 S Killian enjoys a strategic location within the Lake Park Business District, less than one mile east of Interstate 95, and just south of Northlake Boulevard, off of Old Dixie Highway. Its location provides easy access and close proximity to major roads and highways in the area, making it an attractive spot for businesses. The area is comprised of mainly light industrial, warehouse and flex buildings. The Property includes predominately small-bay warehouse space, with two units containing a small office/retail component, and features masonry construction with durable concrete walls and roofs, providing enduring strength of the structure.
The Palm Beach County industrial market has experienced a significant rise in demand, with positive absorption and decreasing vacancies creating strong market conditions to push the average asking rents even higher. The Property’s significant upside potential comes from its well-maintained status, attractive cash flow, and minimal maintenance requirements, making it an excellent investment opportunity.

Investment Highlights

  • Strong Occupancy - The Property is currently 100-percent occupied, and has a robust historical occupancy rate.
  • Below-Market Rent - The average rent per square foot is approximately $13.00, which is well below the market rate of about $25.00 per square foot.
  • Short-Term Leases - All tenants are on month-to-month terms, allowing for immediate rental increases to market rates.
  • Exceptional Location & Demographics - 1330 S Killian enjoys an exceptional location, situated close to Interstate 95 and providing easy access to South Florida's major thoroughfares. Additionally, it is located in an area with strong demographic potential.
  • Durable Construction - The Property features durable concrete walls and roofs, ensuring the structure's integrity in the long run.

Exclusively Listed By

Listing Price: $1,700,000

Cap Rate
4.10%
Gross SF
8,500
Price/Gross SF
$200.00
Lot Size
0.49 acres
Year Built
1975
Rentable SF
8,500

Investment Highlights

  • Strong Occupancy - The Property is currently 100-percent occupied, and has a robust historical occupancy rate.
  • Below-Market Rent - The average rent per square foot is approximately $13.00, which is well below the market rate of about $25.00 per square foot.
  • Short-Term Leases - All tenants are on month-to-month terms, allowing for immediate rental increases to market rates.
  • Exceptional Location & Demographics - 1330 S Killian enjoys an exceptional location, situated close to Interstate 95 and providing easy access to South Florida's major thoroughfares. Additionally, it is located in an area with strong demographic potential.
  • Durable Construction - The Property features durable concrete walls and roofs, ensuring the structure's integrity in the long run.

Investment Overview

Marcus & Millichap, as the exclusive advisor, is pleased to present for sale 1330 S Killian (the “Property”), an 8,500-square-foot, small-bay industrial building located on a half-acre lot in Lake Park, Florida. The Property boasts 26 bay doors, with 14-foot ceilings and 12-foot clear heights, and its tenants range in size from 250 to 725 square feet. The Property is currently 100-percent occupied with a diverse mix of tenants and has historically maintained high occupancies. All tenants are on month-to-month terms that come with well-below-market rental rates, a factor that allows for continuous and immediate increase in rental rates upon purchase. 1330 S Killian enjoys a strategic location within the Lake Park Business District, less than one mile east of Interstate 95, and just south of Northlake Boulevard, off of Old Dixie Highway. Its location provides easy access and close proximity to major roads and highways in the area, making it an attractive spot for businesses. The area is comprised of mainly light industrial, warehouse and flex buildings. The Property includes predominately small-bay warehouse space, with two units containing a small office/retail component, and features masonry construction with durable concrete walls and roofs, providing enduring strength of the structure. The Palm Beach County industrial market has experienced a significant rise in demand, with positive absorption and decreasing vacancies creating strong market conditions to push the average asking rents even higher. The Property’s significant upside potential comes from its well-maintained status, attractive cash flow, and minimal maintenance requirements, making it an excellent investment opportunity.

Exclusively Listed By

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