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Mixed-Use

Beg for More - Downtown Delray Beach - Mixed Use

504 E Atlantic Ave, Delray Beach, FL 33483

Listing Price: $4,062,800

Cap Rate
4.22%
Number of Suites
3
Gross SF
2,902
Rentable SF
2,902
Price/Gross SF
$1,400.00
Lot Size
0.21 acres
Year Built
1935

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.

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

Cap Rate
4.22%
Number of Suites
3
Gross SF
2,902
Rentable SF
2,902
Price/Gross SF
$1,400.00
Lot Size
0.21 acres
Year Built
1935

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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