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

Marcus and Millichap is pleased to present the Love Family Building at 310 East Atlantic Avenue in the heart of downtown Delray Beach, Florida. Offered for sale for the first time 78 years, the Love Family Building is a 5,753 square foot, two tenant trophy asset building located on the South side of Atlantic Avenue between Southeast 3rd Avenue and Southeast 4th Avenue on the premier block in prime downtown Delray Beach, Florida. Located between Urban Outfitters and Capital One Bank Cafe and one building off the corner of Atlantic Avenue and Southeast 3rd Avenue, immediate surrounding neighbors include a brand-new mixed-use development anchored by IPIC Movie Theaters, Suntrust Bank, Bank Atlantic, Kilwins Famous Chocolates, Cut 432 Steakhouse, Rocco’s Taco’s, Lemon Grass Asian Bistro, Sunglass Hut, Trattoria Romano and much more. The Love Family Building also sits directly in front of the future Delray City Market , a 120,000 square foot, four story mixed use building with a 30,000 square foot food hall with 30 world class food vendors as well as a 200 car, three level parking garage. Additionally, the Love Family Building is located within a short walking distance of Atlantic Crossing, a $300 million dollar mixed used development as well as numerous hotels such as the Aloft (opening 2019), The Seagate Hotel & Spa, Sundy House, Delray Beach Marriott, Hyatt Place Delray Beach, Residence Inn by Marriott… and is approximately half a mile to the Atlantic Ocean and world class beaches. Atlantic Avenue was also voted as one of the ten greatest urban shopping districts in America as published in the USA Today in 2017. The Love Family Building is currently occupied by two tenants on short term leases that are currently paying less than one-third of the current market rents. The tenants are responsible for any real estate tax increase over the base year 2013 protecting a future owner from a tax escalation. There also may be an opportunity to gain control of the retail space prior to the lease expiration. The Love Family Building offers an investor the rare opportunity to acquire a trophy asset retail building on the prime retail block of Atlantic Avenue in downtown Delray Beach, FL with tremendous upside.