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123 E Atlantic Ave 1,924 SF Vacant Retail Building Delray Beach, FL 33444 $5,454,640 CAD ($2,835.05 CAD/SF)

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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.