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504 E Atlantic Ave 2,902 SF 72% Leased Retail Building Delray Beach, FL 33483 $4,062,800 ($1,400/SF)
Investment Highlights
- A Great Location in The Center Of Downtown Delray Beach with Substantial Frontage
- Surrounded By Lots Of Parking, Including Public Lot And IPIC Garage.
- Anchored By A Highly Coveted Restaurant Use At A Below-Market Rent Providing Upside
- Sale Includes 4COP Liquor License with A Value Of $240K+
Executive Summary
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.
Don't hesitate to contact brian.rosen@marcusmillichap.com to register and secure the financial and lease information and details.
Property Facts
Amenities
- Air Conditioning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- High-end Watch Repair
- Services
-
99,999 SF
- -
-
Lorem Ipsum
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| High-end Watch Repair | Services | 99,999 SF | - | Lorem Ipsum | - |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
This property offers prime office space that is broken down into (2) rooms, with one currently being a large open office and the other room set up as a conference room, but the (2) rooms and private bathroom can be configured to fit the tenant. The lease is structured on a Modified Gross structure and the rent is $3,000 a month. The property sits just off the hard corner of Atlantic Avenue in Downtown Delray Beach, adjacent to a public parking lot.
| Space | Size | Space Use | Position | Available |
| 2nd Floor | 800 SF | Office/Retail | - | Now |
2nd Floor
| Size |
| 800 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| Now |
2nd Floor
| Size | 800 SF |
| Space Use | Office/Retail |
| Position | - |
| Available | Now |
This property offers prime office space that is broken down into (2) rooms, with one currently being a large open office and the other room set up as a conference room, but the (2) rooms and private bathroom can be configured to fit the tenant. The lease is structured on a Modified Gross structure and the rent is $3,000 a month. The property sits just off the hard corner of Atlantic Avenue in Downtown Delray Beach, adjacent to a public parking lot.
Nearby Major Retailers
Property Taxes
| Parcel Number | 12-43-46-16-G6-000-0020 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,092,292 |
Property Taxes
Presented by
504 E Atlantic Ave
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