515 S Dixie Hwy - Auto Repair FOR SALE


West Palm Beach, FL 33401- Downtown West Palm Beach
$4,250,000 USD
305-570-2600
515 S Dixie Hwy, West Palm Beach, FL for Sale
$4,250,000 USD
Auto Repair - FOR SALE
1/7
null | 2.14% Cap Rate

515 S Dixie Hwy
West Palm Beach, FL 33401
Downtown West Palm Beach


HIGHLIGHTS

  • TENANT: The Goodyear Tire & Rubber Company
  • USE: Tire sales, installation, and related automotive services
  • LEASE TYPE: Absolute NNN
  • LEASE TERM: 15 years (commencement 2022)
  • LEASE ESCALATIONS:10% increases every five (5) years during the initial term
  • LEASE OPTIONS: Six (6) five (5)-year options to renew (10% increases at the beginning of each option term)

OVERVIEW

This corporate-backed, absolute NNN lease with Goodyear offers investors true hands-off, bond-style income from a globally recognized, investment-grade tenant. The 15-year lease, commencing in 2022, includes six 5-year renewal options with 10% rent increases every five years, providing predictable growth and long-term security. Located on the high-traffic US-1 corridor in Downtown West Palm Beach, the property benefits from excellent visibility, urban infill, and easy access to Okeechobee Blvd and I-95. With zero landlord responsibility, this 5,500 SF building on an 11,731 SF lot delivers stable cash flow and a 25-year horizon of built-in escalations, making it a rare opportunity for investors seeking reliable, long-term income.

FOR SALE DETAILS

PRICE

$4,250,000 USD

PRICE/SF

$773 USD /SF

CAP RATE

2.14%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

SINGLE TENANT NET LEASE GOOD YEAR

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,731 SF

ZONING

QGD-10

APN/PARCEL ID

74-43-43-21-08-055-0011

ASK ABOUT THIS PROPERTY

Adriano SalucciApex Capital Realty LLCMore Info
305-570-2600

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Adriano SalucciApex Capital Realty LLCMore Info
305-570-2600

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