Mixed-Use
Delray Beach - Restaurant Anchored Mixed-Use
504 E Atlantic Ave, Delray Beach, FL 33483
Listing Price: $3,500,000
Investment Overview
Marcus & Millichap is pleased to present the restaurant-anchored mixed-use property located at 504 E Atlantic Avenue in Delray Beach, Florida
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.
Delray Beach - Restaurant Anchored 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.
- Two Office Spaces on the Second Floor are Leased at $3,000 per 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
Listing Price: $3,500,000
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.
- Two Office Spaces on the Second Floor are Leased at $3,000 per 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
Marcus & Millichap is pleased to present the restaurant-anchored mixed-use property located at 504 E Atlantic Avenue in Delray Beach, Florida 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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