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The Standard - 15 year Absolute Net Lease 166 SE 2nd Ave 6,641 SF Retail Building Delray Beach, FL 33444 $7,000,000 ($1,054.06/SF) 6% Cap Rate
Investment Highlights
- Absolute NNN 15-Year Lease - Zero Landlord Responsibilities
- Prime Downtown Location - Approximately 1.5 Blocks from Atlantic Avenue & Pineapple Grove
- Proven Multi-Unit Operator - Strong Existing Locations and Further Expansion Plans in Palm Beach County
- Entertainment District Zoning - Extended Hours and Sound Ordinance Flexibility
- Below-Market Base Rents Plus Percentage Rent - Inflation Hedge and Sales-driven Upside
- Supply-Constrained Market - Excellent Long-term Value Preservation
Executive Summary
This newly leased, absolute triple-net(NNN) restaurant investment is in the heart of Downtown Delray Bea's Entertainment District one of South Florida's most vibrant and supply-constrained urban cores. The property is delivered with a brand-new 15-year absolute NNN lease, delivering long-term, passive income with zero landlord responsibilities. The tenant covers all real estate taxes, insurance, maintenance, roof, and structure
Unmatched Downtown Location:
Located just 1.5 blocks south of the iconic intersection of Atlantic Avenue and Pineapple Grove widely considered the epicenter of Delray Beach's retail, dining, and
nightlife corridor—the asset benefits from prime positioning within the local entertainment district. This zoning allows for extended operating hours and greater flexibility
with sound ordinances, a critical advantage for high-energy, destination food-and-beverage concepts. Downtown Delray Beach is highly coveted for its walkability, year-round energy, and strong foot traffic drawn from affluent locals, seasonal residents, and robust tourism. Limited future supply, strict zoning, and consistent tenant demand further support the area's Exceptional Surrounding Density and Institutional Investment's
Credit Tenant with Proven Operating History:
The property is leased to The Standard, an established and expanding restaurant operator with successful locations in Palm Beach County.
The brand has demonstrated strong performance in high-profile downtown settings and continuous growth in premier urban submarkets.
Compelling Lease Structure with Built-In Upside:
The 15-year absolute NNN lease provides durable income and downside protection, enhanced by a percentage rent clause that offers meaningful growth potential. Current base rents sit below market rates for comparable downtown Delray Beach restaurant space, creating a natural hedge against inflation. The percentage rent provision allows investors to participate directly in the tenant's success as sales increase, while providing rare visibility into unit-level performance through sales reporting a valuable insight not typically available in standard NNN investments. This structure delivers both stability and equity-like upside.
Unmatched Downtown Location:
Located just 1.5 blocks south of the iconic intersection of Atlantic Avenue and Pineapple Grove widely considered the epicenter of Delray Beach's retail, dining, and
nightlife corridor—the asset benefits from prime positioning within the local entertainment district. This zoning allows for extended operating hours and greater flexibility
with sound ordinances, a critical advantage for high-energy, destination food-and-beverage concepts. Downtown Delray Beach is highly coveted for its walkability, year-round energy, and strong foot traffic drawn from affluent locals, seasonal residents, and robust tourism. Limited future supply, strict zoning, and consistent tenant demand further support the area's Exceptional Surrounding Density and Institutional Investment's
Credit Tenant with Proven Operating History:
The property is leased to The Standard, an established and expanding restaurant operator with successful locations in Palm Beach County.
The brand has demonstrated strong performance in high-profile downtown settings and continuous growth in premier urban submarkets.
Compelling Lease Structure with Built-In Upside:
The 15-year absolute NNN lease provides durable income and downside protection, enhanced by a percentage rent clause that offers meaningful growth potential. Current base rents sit below market rates for comparable downtown Delray Beach restaurant space, creating a natural hedge against inflation. The percentage rent provision allows investors to participate directly in the tenant's success as sales increase, while providing rare visibility into unit-level performance through sales reporting a valuable insight not typically available in standard NNN investments. This structure delivers both stability and equity-like upside.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,641 SF
Building Class
C
Year Built/Renovated
1967/2022
Price
$7,000,000
Price Per SF
$1,054.06
Cap Rate
6%
NOI
$420,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.87
Lot Size
0.18 AC
Zoning
CBD - Central Business District - Fully Entitled and Operating Restaurant
Parking
5 Spaces (0.75 Spaces per 1,000 SF Leased)
Frontage
58’ on 2nd Ave
Amenities
- Fenced Lot
Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 12-43-46-16-01-078-0131 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,021,140 |
Property Taxes
Parcel Number
12-43-46-16-01-078-0131
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,021,140
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The Standard - 15 year Absolute Net Lease | 166 SE 2nd Ave
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