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Plaza Delray Shops | NNN Leases | 13-YR WALT 8752 Atlantic Ave 10,200 SF 100% Leased Retail Building Delray Beach, FL 33446 $7,709,000 ($755.78/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Plaza Delray is anchored by Joseph's Classic Market, a gourmet market and grocery store which caters to affluent communities in South FL
- $218,000 AHHI and $980,000 average home value in 1 mile
- Fee simple ownership allows for depreciation boosting after tax returns
- Leases allow for reimbursement of all operating expenses including professional management, administration fees and an over-head fee
- Excellent visibility to 35,500 VPD along Atlantic Ave. with full access from signalized intersection
- Fixed rental increases (3% annual & 10% every 5 years) provides hedge against inflation
EXECUTIVE SUMMARY
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of Plaza Delray Shops. This two-tenant retail center features NNN leases, brand new construction and a 13.1 WALT.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Building Size
10,200 SF
Building Class
B
Year Built
2024
Price
$7,709,000
Price Per SF
$755.78
Cap Rate
5.75%
NOI
$443,268
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.03
Lot Size
7.06 AC
Parking
58 Spaces (5.69 Spaces per 1,000 SF Leased)
Frontage
268’ on West Atlantic Avenue
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 00-42-46-20-22-001-0010 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,880,988 |
PROPERTY TAXES
Parcel Number
00-42-46-20-22-001-0010
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,880,988
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Plaza Delray Shops | NNN Leases | 13-YR WALT | 8752 Atlantic Ave
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