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Shopping Community

The O.G. - Downtown Delray Beach

166 SE 2nd Ave, Delray Beach, FL 33444

Listing Price: $7,774,072

Cap Rate
6.81%
Gross SF
6,461
Rentable SF
6,461
Price/Gross SF
$1,203.23
Lot Size
0.18 acres
Year Built
1967

Investment Overview

This investment opportunity provides a rare opportunity to secure a turnkey restaurant with all new equipment and multi-million dollar build out in the coveted entertainment district of downtown Delray Beach. The property provides a 6,461 sf of GLA based on the impervious surfaces and includes indoor, covered outdoor, and outdoor areas as well as a 100% newly built out kitchen, 2 large bars, and multiple bathrooms.

The property is being underwritten at $85.00 Net Rents in a $90-$110 dollar per square foot market for anything that is remotely similar to this asset. The property sits just one and a half blocks from Atlantic Avenue and Pineapple Grove which is the strongest intersection in Delray Beach as proven by the activity and recent sales of properties upwards of $1,600 per square foot.
This property is ideal for a strong Owner/User that understands the value of owning their real estate or an investor with the true understanding of the importance of being in the Entertainment District and quality of a newly developed property they are receiving.

This area is positioned for even more significant growth with 165 recently approved SWAN apartment project less than half a block from the subject asset. There is also the 301 project to provide another 100 units to the area as well as the Sundy Village project. The Recently completed Ray hotel is just three and a half blocks to the north of this restaurant on the same street as Pineapple Grove.

Investment Highlights

  • Located in the coveted Entertainment District providing the ability to operate till 2AM
  • New Construction - Multi-million dollar renovations Reopened in January 2024
  • All New Equipment – High-end equipment for both new bars and kitchen
  • Turnkey – Restaurant providing newly activated hospitality area outside

Exclusively Listed By

Shopping Community

The O.G. - Downtown Delray Beach

Listing Price: $7,774,072

Cap Rate
6.81%
Gross SF
6,461
Rentable SF
6,461
Price/Gross SF
$1,203.23
Lot Size
0.18 acres
Year Built
1967

Investment Highlights

  • Located in the coveted Entertainment District providing the ability to operate till 2AM
  • New Construction - Multi-million dollar renovations Reopened in January 2024
  • All New Equipment – High-end equipment for both new bars and kitchen
  • Turnkey – Restaurant providing newly activated hospitality area outside

Investment Overview

This investment opportunity provides a rare opportunity to secure a turnkey restaurant with all new equipment and multi-million dollar build out in the coveted entertainment district of downtown Delray Beach. The property provides a 6,461 sf of GLA based on the impervious surfaces and includes indoor, covered outdoor, and outdoor areas as well as a 100% newly built out kitchen, 2 large bars, and multiple bathrooms. The property is being underwritten at $85.00 Net Rents in a $90-$110 dollar per square foot market for anything that is remotely similar to this asset. The property sits just one and a half blocks from Atlantic Avenue and Pineapple Grove which is the strongest intersection in Delray Beach as proven by the activity and recent sales of properties upwards of $1,600 per square foot. This property is ideal for a strong Owner/User that understands the value of owning their real estate or an investor with the true understanding of the importance of being in the Entertainment District and quality of a newly developed property they are receiving. This area is positioned for even more significant growth with 165 recently approved SWAN apartment project less than half a block from the subject asset. There is also the 301 project to provide another 100 units to the area as well as the Sundy Village project. The Recently completed Ray hotel is just three and a half blocks to the north of this restaurant on the same street as Pineapple Grove.

Exclusively Listed By

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