New Listing
1200 E Atlantic Avenue,Delray Beach, FL 33483
Delray Beach, FL 33483
Description
Fully leased, income-producing mixed-use building on East Atlantic Avenue, on the beach block in Delray Beach. Two-story building of about 6,703 SF per Palm Beach County on 9,977 SF of CBD-zoned land with about 90 feet of frontage on East Atlantic Avenue. Ten units: six retail, one office and three apartments, 100% leased per the current rent roll. Current NOI $317,134 (about 3.7% cap rate at asking price); 2027 projected NOI $338,734 (about 4.0% cap). 10 parking spaces. Hold for income and appreciation, or redevelop using the existing architectural concept for five retail spaces and five luxury condominiums, subject to City approvals. Rent roll and financials available with the offering memorandum. Contact listing agent for Offering Memorandum.
Details
| MLS # | A12114966 |
|---|---|
| Listing Type | For Sale |
| Style | Mixeduse |
| Sub-Type | Resale |
| Status | Active |
| Year | 1951 |
| Days On Site | 6 |
| Listing Provided By | Apollo Investment & Real Estat | Christopher S Nicotra |
Features
| SQ Feet | 6,703 |
|---|---|
| Zoning | CBD |
| Acreage | 0.23 |
Exterior
| Lot Features | Central Business District, City Lot |
|---|
Taxes
| Tax Annual Amount | 107585 |
|---|
Area Information
| State | FL |
|---|---|
| County | Palm Beach |
| City | Delray Beach |
| Zip Code | 33483 |
| Area | 4140 |
| Subarea | PB06 |
| Listing VS Median (in 33483) | |
Price: $8,500,000 low | high Med: $545,000 sqft: 6,703 low | high Med: 680 $ / sqft: $1,268 low | high Med: $801 On site: 6 low | high Med: 645 | |
Market Activity 33483
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Learn More About This Property
| State | FL |
|---|---|
| County | Palm Beach |
| City | Delray Beach |
| Zip Code | 33483 |
| Area | 4140 |
| Subarea | PB06 |
| Listing VS Median (in 33483) | |
Price: $8,500,000 low | high Med: $545,000 sqft: 6,703 low | high Med: 680 $ / sqft: $1,268 low | high Med: $801 On site: 6 low | high Med: 645 | |
