Delray Beach Asian Fusion with Office On 2nd Floor
Downtown Delray Beach - Restaurant Anchored Property
Marketing description
Marcus & Millichap is pleased to present the restaurant-anchored mixed-use property located at 504 E Atlantic Avenue in Delray Beach, Florida. This investment property allows an investor to secure a free-standing building with built-in upside, including three units in the center of Downtown Delray Beach. This asset boasts a restaurant use on the ground floor below at a market rent on a NNN basis, providing future upside. Moreover, the second floor currently operates as two office spaces that are leased at below-market rents, as well as on a gross rental structure that can be moved to NNN. This property sits in a strong location at the intersection of Federal Highway and Atlantic Avenue.
The property is being sold stabilized with value-add opportunities surrounding the second floor and through future repositioning of the restaurant with a higher rental structure and the ability to liquidate 4COP to bring the basis down of the overall investment.
Contact [email protected] for more details on the leases, income, and expenses.
Investment highlights
• A Great Location in The Center Of Downtown Delray Beach with Substantial Frontage
• Anchored By A Highly Coveted Restaurant Use At A Below-Market Rent Providing Upside
• Two Office Spaces On The 2nd Floor, Both Leased At $3,000 Per Month Gross, Also Provides Room to Increase Rents
• Surrounded By Lots Of Parking, Including Public Lot And IPIC Garage.
• Sale Includes 4COP Liquor License with A Value Of $250K+
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