1200 E Atlantic Ave
Delray Beach, FL 33483
Retail Property For Sale

Marcus & Millichap is proud to present The Rinaldi Portfolio, a four building retail/office/multifamily opportunity. The property is located a stone’s throw away from the Atlantic Ocean at 1200-1210 East Atlantic Avenue in Delray Beach, Florida at the corner of Atlantic and Bronson Avenue. Located directly across the road from the popular Delray Beach Marriot (277 rooms) and Residence Inn by Marriot (131 Rooms), one block east of the Seagate Hotel (154 rooms) and just three blocks east of Atlantic Crossing, a planned mixed use development consisting of a 76,000-square-foot class A office building, 82 condominium apartment units, 261 rental apartments and 76,000-square-foot of retail space. The Rinaldi Portfolio is a trophy asset one block from the ocean in the heart of East Atlantic Avenue. There is also $750,000,000+ in planned developments within one and a half miles of the property that includes Atlantic Crossing, Aloft Hotel, Sunday House, IPIC Theaters, Sofa Lofts, The Metropolitan, The Strand and much more. 1200-1210 East Atlantic Avenue is a rare 11,500-square-foot corner lot with four mixed used buildings comprised of 6,715-square-feet of retail, residential and office space with 90 feet of prime frontage on Atlantic Avenue. The property and each of the architecturally beautiful buildings have been impeccably maintained and surround a magnificent central courtyard. The majority of the tenants are long term paying well below market rents on short term leases. There is significant upside in the lease that allows the landlord to collect full common area maintenance expenses, as well as, increase rents to market rates as the leases expire. The cafe has a grandfathered license allowing for a remarkable 52 seats (including the patio) for 645-square-feet. The property sits in the Delray Central Business District (CBD) Beach Sub-District that allows for development of four stories up to 54 feet and a very liberal use code that includes general retail, restaurant, medical, multifamily, assisted living, hotel, etc.   This is an extremely rare and unique opportunity to acquire an irreplaceable trophy real estate asset one block from the Ocean with tremendous upside and development potential. The property can be made primarily vacant upon sale to immediately increase the below market rents.