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Strip Club Business Retail Buildings
Strip Center with Business and Real Estate
Listing Contacts
License:
Active
Asking Price: $11,600,000
Earnest Money Deposit: $250,000 min.
Address
2298 S Military Trl, West Palm Beach, FL 33415
Show on MapDate Added
Feb 8, 2024
Days on Market
412 days
Time Since Last Update
9 days
Details
Property TypeMixed Use, Office, Retail, Special Purpose
SubtypeBar, Shopping Center, Storefront
Investment TypeStabilized
Investment Sub TypeMIXED
ClassB
Square Footage15,600
Cap Rate14.31%
Occupancy100%
NOI$1,660,390
Units8
Year Built1981
Buildings2
Stories2
ZoningGeneral Commercial
Lot Size (sq ft).61 - 1
Parking (spaces)90
Broker Co-OpYes
APN00424413020010210; 00-42-44-13-02-001-0250; 00-42-44-13-02-001-0250
OwnershipYes
Ceiling Height18
Marketing Description
Commercial portfolio of 2 buildings next to each other. For Sale. Gentlemens Club and other tenants in 2nd building. 100% tenant occupied. Located in West Palm Beach, Fl. 90+ parking spaces. Please see attached for surveys, If interested, I can send over additional photos and financials. includes the 15,600 sq. ft. (2) buildings and business. GROSS INCOME AT $2.6M NOI AT 1.5M TOTAL INCOME.
PRIVATE SHOWING MORNING APPOINTMENT. CALL STEEL GINSBERG 561-900-5006
Investment Highlights
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Parcel 1: Has single tenant - BUYER WILL OWN THIS BUSINESS. GROSS 2.4M NOI 1.4M
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Built in 1971, New Upgrades including Roofs, New A/C's.
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Parcel 2: Commercial Retail multi tenant - 2298 S Military Trl. West Palm Beach, FL 33415
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(Only the liquor store has a formal lease, the other tenants are willing to leave or sign a lease. They are on Month to Month but have been there a long time.).
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Liquor Store Lease: $4k/Monthly
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Psychic Tarot Reader: $3k/Monthly
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Barber Shop: $2400/Monthly
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Upstairs Apartment: $1800/Monthly
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Billboard: $835/Monthly
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Food truck income $700/Monthly
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Parcel1: $20,000/Monthly rent income ( New owner will not have to pay this.
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Total Annual Expenses $27,430
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Total NOI $2.5M Yr.
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,660,390.00
$138,365.83/mo
Valuation Metrics
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0
DSCR
14.31%
Cap Rate
14.31%
ROI
Property History
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Due Diligence
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Listing Contacts
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