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9940 Belvedere Rd 12,600 SF 100% Leased Retail Building Royal Palm Beach, FL 33411 $7,800,000 ($619.05/SF) 5.01% Cap Rate
Investment Highlights
- Multi-tenant Retail Strip Shadow Anchored by Top 7% Walmart Nationwide
- 60% of the Tenants have Occupied their Space for Over a Decade
- Average Household Income within 1-Mile Radius of $128,542
- Synergistic Service Driven Tenant Mix - 50% Medical & 40% Food & Beverage
- 40% of Center Occupied by National Tenant
- All Tenants Separately Metered for Electric and Water
Executive Summary
Marcus & Millichap, as exclusive agent, is pleased to market for sale 9940 Belvedere Road in Royal Palm Beach, Florida. 9940 Belvedere Road is a 12,600 square foot multi-tenant retail property that is shadow anchored by Walmart. The property is located just east of the signalized intersection of State Road 7 and Belvedere Road. It benefits from 42,500 vehicles per day along State Road 7 and nearly 20,000 vehicles per day along Belvedere Road. The property was built in 2004 and is 100% occupied, of which 40% is occupied by national tenants. Many of the tenants have operated at the property for more than 10 years showing a commitment to the location.
Data Room Click Here to Access
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Building Size
12,600 SF
Building Class
B
Year Built
2004
Price
$7,800,000
Price Per SF
$619.05
Cap Rate
5.01%
NOI
$390,731
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.20
Lot Size
1.48 AC
Zoning
CG - Commercial General
Parking
64 Spaces (5.08 Spaces per 1,000 SF Leased)
Frontage
190’ on Belvedere Rd
Amenities
- Corner Lot
- Restaurant
Nearby Major Retailers
Property Taxes
| Parcel Number | 72-42-43-31-07-000-0030 | Improvements Assessment | $0 (2025) |
| Land Assessment | $0 (2025) | Total Assessment | $3,702,076 (2025) |
Property Taxes
Parcel Number
72-42-43-31-07-000-0030
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$3,702,076 (2025)
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9940 Belvedere Rd
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