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$ 1,100,000
Est. payment /mo
Pending
524 W Atlantic AVE Delray Beach, FL 33444
2 Baths
1,280 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Pending
Purchase Type For Sale
Square Footage 1,280 sqft
Price per Sqft $859
MLS Listing ID R10338648
HOA Y/N No
Year Built 1956
Annual Tax Amount $4,105
Tax Year 2016
Contingent None
Lot Size 4,356 Sqft
Acres 0.1
Property Sub-Type Industrial
Property Description
This property is being sold vacant and the rents illustrated are conservative net leased rents of $55 per square foot triple net. The rents are only being calculated on the under air space, but the property does offer a fenced in backyard as well. The current use of a free-standing bar is very coveted in Delray Beach as it provides a 750 foot radius restriction from another bar entering the market. Bars get some of the highest rents in the market based on the high margins on alcohol and the ability to operate on a lower overhead with reduced costs on overhead and costs associated with food. This asset is located on Atlantic Avenue East of I-95 and just west of Swinton Avenue. This corridor will be seeing a lot of big investment and transformation in the next few years with a new grocery store going in on the next block west of this property and much more new development planned for this specific corridor called The Set. Features include: Stand Alone Bar Zoning- 750 foot radius use restriction, Frontage on Atlantic Avenue, Adjacent to City Ampitheatre, High Barrier to Entry Use in this Market, New Grocery Store Being Developed Directly to the West and Bite-size Commercial Deal in a Hot Area.
Location
State FL
County Palm Beach
Area 4470
Zoning CBD(ci
Interior
Interior Features InteriorFeatures
Heating Central
Cooling Central Air
Flooring Tile
Fireplace No
Exterior
Water Access Desc Public
Roof Type Other
Building
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type Block
Others
Tax ID 12434616010210130
Security Features Smoke Detector(s)
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Listed by Todd Wilson Atlantic One Realty Group LLC
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