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$8,500,000
Est. payment /mo
6,703 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 6,703 sqft
Price per Sqft $1,268
MLS Listing ID A12114966
HOA Y/N No
Year Built 1951
Annual Tax Amount $107,585
Tax Year 2025
Lot Size 9,975 Sqft
Acres 0.229
Lot Dimensions 90
Property Sub-Type Mixed Use
Property Description
Fully leased, income-producing mixed-use building on East Atlantic Avenue, on the beach block in Delray Beach. Two-story building of about 6,703 SF per Palm Beach County on 9,977 SF of CBD-zoned land with about 90 feet of frontage on East Atlantic Avenue. Ten units: six retail, one office and three apartments, 100% leased per the current rent roll. Current NOI $317,134 (about 3.7% cap rate at asking price); 2027 projected NOI $338,734 (about 4.0% cap). 10 parking spaces. Hold for income and appreciation, or redevelop using the existing architectural concept for five retail spaces and five luxury condominiums, subject to City approvals. Rent roll and financials available with the offering memorandum. Contact listing agent for Offering Memorandum.
Location
State FL
County Palm Beach
Area 4220
Zoning CBD
Exterior
Total Parking Spaces 10
Private Pool Yes
Building
Story 2
Level or Stories Two
Others
Tax ID 12434616280020032
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Listed by Apollo Investment & Real Estat
Nearby Locations
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Milton Knight
Principal Real Estate Broker License ID: 0663675
Principal Real Estate Broker License ID: 0663675