Delray Beach - Restaurant Anchored Mixed-Use — Sale in Delray Beach, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Delray Beach, FL 33483
  • Year built: 1935

Photos

Delray Beach - Restaurant Anchored Mixed-Use — Sale in Delray Beach, FL, photo 1 of 4
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Investment Figures

Cap rate
4.90%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

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. Investment Highlights: • Strong location at the intersection of Atlantic Avenue and Federal Highway with great frontage • Anchored by a Highly Coveted Restaurant Use at Below-Market Rents, Providing Upside. • Two Office Spaces on the Second Floor are Leased at $3,000 per Month on Gross Leases. The Ability to Push Rents Up in the Near Future and Move to a Net-Lease Structure, Provides Additional Upside. • Surrounded by Lots of Parking, Including the IPIC Garage and Public Parking Lot. • Sale Includes a 4COP Liquor License with a Value of $240,000 +/-

Market Context

This mixed use in Delray Beach, FL is listed for sale. It is offered at an approximate 4.9% capitalization rate, a key benchmark for income-producing mixed use assets. The building dates to 1935. Compare it against other mixed use listings for sale in Delray Beach, FL — view the full market.

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