Mixed-Use
Beg for More - Downtown Delray Beach - Mixed Use
504 E Atlantic Ave, Delray Beach, FL 33483
Listing Price: $4,062,800
Investment Overview
This investment property allows an investor to secure a free-standing building with built-in upside, including three units in the center of Downtown Delray Beach. This asset boasts a restaurant use on the ground floor below at a market rent, providing future upside. Moreover, the second floor currently operates as two office spaces that are leased at below-market rents as well. This property sits in a strong location at the intersection of Federal Highway and Atlantic Avenue. The property is being sold stabilized with value-add opportunities surrounding the second floor and through future repositioning of the restaurant with a higher rental structure and the ability to liquidate 4COP to bring the basis down of the overall investment.
Beg for More - Downtown Delray Beach - Mixed Use
Investment Highlights
- Strong location at the intersection of Atlantic Avenue and Federal Highway with great frontage
- Anchored by a highly coveted restaurant use at below-market rents, providing upside.
- Both Office Spaces on the second floor are leased at $3,000 a month on gross leases. The ability to push rents up in the near future and move to a net lease structure provides additional upside.
- Surrounded by lots of parking, including the IPIC garage and public parking lot.
- Sale includes a 4COP liquor license with a value of $240,000 +/-
Exclusively Listed By
Financing By
Mixed-Use
Beg for More - Downtown Delray Beach - Mixed Use
Listing Price: $4,062,800
Investment Highlights
- Strong location at the intersection of Atlantic Avenue and Federal Highway with great frontage
- Anchored by a highly coveted restaurant use at below-market rents, providing upside.
- Both Office Spaces on the second floor are leased at $3,000 a month on gross leases. The ability to push rents up in the near future and move to a net lease structure provides additional upside.
- Surrounded by lots of parking, including the IPIC garage and public parking lot.
- Sale includes a 4COP liquor license with a value of $240,000 +/-
Investment Overview
This investment property allows an investor to secure a free-standing building with built-in upside, including three units in the center of Downtown Delray Beach. This asset boasts a restaurant use on the ground floor below at a market rent, providing future upside. Moreover, the second floor currently operates as two office spaces that are leased at below-market rents as well. This property sits in a strong location at the intersection of Federal Highway and Atlantic Avenue. The property is being sold stabilized with value-add opportunities surrounding the second floor and through future repositioning of the restaurant with a higher rental structure and the ability to liquidate 4COP to bring the basis down of the overall investment.
Exclusively Listed By
Financing By
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