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123 E Atlantic Ave
Delray Beach, FL 33444
Retail Property For Sale
Investment Highlights
- Incredible Location – East Atlantic Avenue Adjacent to Old School Square
- Lots of New Developments in the Immediate Area, Including Sundy Village, Atlantic Crossing, SWAN Project, and More
- Newly Renovated Restaurant Space and Tenant on First Floor
- Mixed-use Development with Retail on the Ground Floor and an Apartment / Office Above
- Owner is Putting on a Brand-New Roof
- Restaurant Tenant pays the rent and CAM upfront for years one and two. - Any prepaid rents will be credited at Closing
Executive Summary
This investment property allows an investor or an owner/user to secure a free-standing mixed-use property in the center of Downtown Delray Beach, Florida. This asset boasts a newly renovated restaurant on the ground floor and an apartment on the 2nd floor that can also work as an office in a one-of-a-kind location in Delray Beach. The property has frontage on Atlantic Avenue east of I-95, the main drive to the beach. Atlantic Avenue is the strongest retail corridor of Delray Beach, where most of the
retail and restaurants are located downtown.
This property is directly adjacent to Old School Square Park with a sizeable 2nd-floor patio from the apartment that overlooks the cultural hub of the downtown. The first-floor is between Tramonti and Sazio, both very busy Delray Beach iconic locations. Tramonti for lunch and dinner, and Sazio for its busy late-night pizza slice
business.
The property is being sold with the income in place for the bottom floor, and the 2nd floor will be delivered vacant with upside in leasing or occupying the upstairs. The tenant on the bottom floor pays thier rent up front for the first and second years. The prepaid annual rent will be credited at closing.
retail and restaurants are located downtown.
This property is directly adjacent to Old School Square Park with a sizeable 2nd-floor patio from the apartment that overlooks the cultural hub of the downtown. The first-floor is between Tramonti and Sazio, both very busy Delray Beach iconic locations. Tramonti for lunch and dinner, and Sazio for its busy late-night pizza slice
business.
The property is being sold with the income in place for the bottom floor, and the 2nd floor will be delivered vacant with upside in leasing or occupying the upstairs. The tenant on the bottom floor pays thier rent up front for the first and second years. The prepaid annual rent will be credited at closing.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
1,924 SF
Building Class
C
Year Built
1950
Price
$5,483,160 CAD
Price Per SF
$2,849.88 CAD
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.55
Lot Size
0.08 AC
Zoning
CBD - Delray Beach's Central Business District (CBD)
Frontage
24’ on E Atlantic Ave
Property Taxes
| Parcel Number | 12-43-46-16-01-076-0161 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,703,807 CAD |
Property Taxes
Parcel Number
12-43-46-16-01-076-0161
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,703,807 CAD
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