Lemon Tree Vet Hospital & Plaza 1000-1042 S Military Trl, West Palm Beach 24,949 SF 97% Leased Retail Building West Palm Beach, FL 33415 For Sale

A necessity-based medical and retail complex anchored by its namesake veterinary hospital and complemented by a freestanding drive-through bank on its own outparcel and an automotive center. The property commands a hard, signalized corner exposed to 70,207 vehicles per day in West Palm Beach, an established infill submarket of the West Palm Beach–Boca Raton–Delray Beach MSA.
Lemon Tree —Vet Hospital & Plaza is a 24,949 square foot, 97.3% occupied neighborhood shopping center in unincorporated West Palm Beach, an established infill suburb of the West Palm Beach–Boca Raton–Delray Beach MSA. Built in 1963 and rebuilt in part in 2025, the Property occupies the signalized hard corner of South Military Trail and Summit Boulevard, where 70,207 vehicles pass each day —47,000 on Military Trail and 23,207 on Summit.
A signalized hard corner carrying 70,207 vehicles a day, with 325 feet of frontage on South Military Trail, pylon signage and a drive-through pad.
· Fifteen of nineteen leases escalate at CPI with a 6% annual floor against 3% expense inflation. That 300 basis point spread on three quarters of the roll is what carries net operating income, not the mark to market.
· Three freestanding buildings can be sold apart from the retail center —an animal hospital, a drive-through outparcel and an automotive center, each of which should price tighter than inline retail.
· A quarter of the center reprices on day one. Eight tenancies, 6,470 SF, 25.9% of area, hold no live renewal option.
· Publix co-tenancy at no cost: a 130,766 SF Publix-anchored center sits 0.11 miles away at roughly 97% occupancy.
· New roofs on 1020 and the 1000–1032 building, and a newly built rear veterinary building. No capital expenditure is carried in this underwriting.
· Small-shop space in this submarket is effectively full: strip-center vacancy reads 3.2% against a 3.0% metro, on 8,925 SF of twelve-month deliveries.
· Triple net on full pro-rata recovery of CAM, taxes and insurance from every tenant.
LISTED UN-PRICED