504 E Atlantic Ave - Storefront Retail/Office FOR SALE


Delray Beach, FL 33483- Downtown Delray Beach
$4,062,800 USD
954-245-3513
504 E Atlantic Ave, Delray Beach, FL for Sale
$4,062,800 USD
Storefront Retail/Office - FOR SALE
1/15
null | Request Cap Rate

504 E Atlantic Ave
Delray Beach, FL 33483
Downtown Delray Beach


HIGHLIGHTS

  • A Great Location in The Center Of Downtown Delray Beach with Substantial Frontage
  • Anchored By A Highly Coveted Restaurant Use At A Below-Market Rent Providing Upside
  • Surrounded By Lots Of Parking, Including Public Lot And IPIC Garage.
  • Sale Includes 4COP Liquor License with A Value Of $240K+

OVERVIEW

Marcus & Millichap is pleased to present the restaurant-anchored mixed-use property located at 504 E Atlantic Avenue in Delray Beach, Florida. This investment 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.

FOR SALE DETAILS

PRICE

$4,062,800 USD

PRICE/SF

$1,400 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1935

SPRINKLERS

-

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

CBD

APN/PARCEL ID

12-43-46-16-G6-000-0020

ASK ABOUT THIS PROPERTY

Brian RosenMarcus & MillichapMore Info
954-245-3513

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Brian RosenMarcus & MillichapMore Info
954-245-3513

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.