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Shell 7006 Palmetto Cir N 1,075 SF Retail Building Boca Raton, FL 33433 $14,339,241 CAD ($13,338.83 CAD/SF) 6.15% Cap Rate
Investment Highlights
- Positioned within the Miami MSA - ranked #9 in the United States for population size
- 15+ years remain on the primary lease term
- Grocery and Gym anchored outparcel
- Florida is an income tax free state
- NNN - No landlord responsibilities
- Signalized intersection along Powerline Road (38,000 VPD)
Executive Summary
This property is ideally positioned within the Miami MSA, the ninth-largest metro area in the United States by population. Located in Florida, an income tax-free state, the property has over 15 years remaining on the primary lease term with a triple-net (NNN) structure, relieving the landlord of any responsibilities. It sits on a grocery and gym-anchored outparcel at a signalized intersection along Powerline Road, with traffic counts of 38,000 vehicles per day (VPD), and benefits from close proximity to West Palmetto Park Road (51,000 VPD) and Interstate 91 (110,900 VPD). The area is both densely populated, with over 302,000 people living within a five-mile radius, and affluent, boasting an average household income exceeding $137,000 within a one-mile radius. Neighboring retailers include popular brands like Winn-Dixie, LA Fitness, Publix, Starbucks, Bank of America, Chipotle, and McDonald’s, among many others, enhancing the property’s visibility and appeal.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Service Station
Building Size
1,075 SF
Building Class
B
Year Built/Renovated
1984/2021
Price
$14,339,241 CAD
Price Per SF
$13,338.83 CAD
Cap Rate
6.15%
NOI
$881,863 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.02
Lot Size
1.00 AC
Zoning
CG - Commercial General
Parking
8 Spaces (7.44 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
Walk Score®
Very Walkable (78)
Nearby Major Retailers
Property Taxes
| Parcel Number | 00-42-47-21-01-011-0000 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $4,198,290 CAD |
Property Taxes
Parcel Number
00-42-47-21-01-011-0000
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$4,198,290 CAD
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Shell | 7006 Palmetto Cir N
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