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Department Store

Burlington Coat Factory Trophy Boca Raton Location

20851 N FL-7, Boca Raton, FL 33428

Listing Price: $11,781,287

Cap Rate
5.75%
Tenant Name
Burlignton Coat Factory
Years Remaining On Lease
6.1
Gross SF
42,602
Guarantor
Corporate Guarantee
Rentable SF
42,602
Price/Gross SF
$276.54
Lease Type
Double Net
Rent Per Square Feet
$15.90

Investment Overview

Marcus & Millichap is pleased to present for sale this net leased Burlington
Coat Factory in Boca Raton, Florida. Burlington has approximately seven
years remaining on the base term of the lease with four, five-year, options.
Situated on a large 2.56 acre lot, this 42,602 square foot retail building is
located on a major lighted intersection which sees over 95,700 cars daily.
The local market is quite affluent with average household income exceeding
$121,000 in a five mile radius. Retailers sharing the intersection include,
PetSmart, Publix, LA Fitness, Best Buy, Walgreens, Stein Mart, Bank of
America, Chase Bank, McDonalds, Panera Bread, IHOP, Regal Shadowood
Movie Theaters, and many others.
This Burlington Coat Factory represents an easy to manage, single tenant
asset. The tenant reimburses landlord for real estate taxes, insurance,
and all common area maintenance fees except roof and structure and
management fees. This property and the two attached neighbors are
managed by the same company, which handles all maintenance, repairs,
and contract items. Each property pays their pro rata share of the overall
expenses, which Burlington covers. The management company charges
a small fee, of which this property is responsible for 39.17 percent
(pro rata share). This propertys share of the management fee for 2020
came to around $4,200, which is not reimbursed by the tenant. Because
the management and maintenance burdens are already handled by an
experienced, professional party, this property has virtually zero management.
Boca Raton, the second largest city in the Palm Beaches, is a community
located a short 40 minute drive from Miami. Influenced by the notable
architect, Addison Mizner, Boca Raton was built around an elegant
Mediterranean Revival style that later grew into a vibrant city full of rich
art and culture. From live concerts and international art exhibits to outdoor
festivals and world-class museums, Boca Ratons dynamic cultural scene
offers unique experiences for all ages. Boca Raton has five miles of
beautiful Atlantic coastline and 46 parks with 1,650 acres of recreational
space to encourage a healthy and active lifestyle. One of the first cities
in the U.S. to adopt a tree protection ordinance, the City of Boca Raton
boasts landscapes with endless nature trails, green spaces and waterfront
activities.

Investment Highlights

  • Rare Trophy Location Burlington Coat Factory in Boca Raton (Miami MSA), Florida
  • Below Market Rents in a High Barrier to Entry Retail Market
  • Professional Management Already in Place Plug and Play
  • 21 Year Roof Warranty Runs Until 2031
  • Burlington is Stronger than Ever, with Stock Trading Higher Even than Pre-Covid.
  • Florida is a No Income Tax State

Exclusively Listed By

Department Store

Burlington Coat Factory Trophy Boca Raton Location

Listing Price: $11,781,287

Cap Rate
5.75%
Tenant Name
Burlignton Coat Factory
Years Remaining On Lease
6.1
Gross SF
42,602
Guarantor
Corporate Guarantee
Rentable SF
42,602
Price/Gross SF
$276.54
Lease Type
Double Net
Rent Per Square Feet
$15.90

Investment Highlights

  • Rare Trophy Location Burlington Coat Factory in Boca Raton (Miami MSA), Florida
  • Below Market Rents in a High Barrier to Entry Retail Market
  • Professional Management Already in Place Plug and Play
  • 21 Year Roof Warranty Runs Until 2031
  • Burlington is Stronger than Ever, with Stock Trading Higher Even than Pre-Covid.
  • Florida is a No Income Tax State

Investment Overview

Marcus & Millichap is pleased to present for sale this net leased Burlington
Coat Factory in Boca Raton, Florida. Burlington has approximately seven
years remaining on the base term of the lease with four, five-year, options.
Situated on a large 2.56 acre lot, this 42,602 square foot retail building is
located on a major lighted intersection which sees over 95,700 cars daily.
The local market is quite affluent with average household income exceeding
$121,000 in a five mile radius. Retailers sharing the intersection include,
PetSmart, Publix, LA Fitness, Best Buy, Walgreens, Stein Mart, Bank of
America, Chase Bank, McDonalds, Panera Bread, IHOP, Regal Shadowood
Movie Theaters, and many others.
This Burlington Coat Factory represents an easy to manage, single tenant
asset. The tenant reimburses landlord for real estate taxes, insurance,
and all common area maintenance fees except roof and structure and
management fees. This property and the two attached neighbors are
managed by the same company, which handles all maintenance, repairs,
and contract items. Each property pays their pro rata share of the overall
expenses, which Burlington covers. The management company charges
a small fee, of which this property is responsible for 39.17 percent
(pro rata share). This propertys share of the management fee for 2020
came to around $4,200, which is not reimbursed by the tenant. Because
the management and maintenance burdens are already handled by an
experienced, professional party, this property has virtually zero management.
Boca Raton, the second largest city in the Palm Beaches, is a community
located a short 40 minute drive from Miami. Influenced by the notable
architect, Addison Mizner, Boca Raton was built around an elegant
Mediterranean Revival style that later grew into a vibrant city full of rich
art and culture. From live concerts and international art exhibits to outdoor
festivals and world-class museums, Boca Ratons dynamic cultural scene
offers unique experiences for all ages. Boca Raton has five miles of
beautiful Atlantic coastline and 46 parks with 1,650 acres of recreational
space to encourage a healthy and active lifestyle. One of the first cities
in the U.S. to adopt a tree protection ordinance, the City of Boca Raton
boasts landscapes with endless nature trails, green spaces and waterfront
activities.

Exclusively Listed By

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