Listed by Marcus & Millichap
$5,600,000
Paz Plaza
Details
APN 08-43-45-30-01-007-0010
Property Type Retail
Sub Type Shopping Center
Square Footage 14,400
Net Rentable (SqFt) 14,400
Units 12
Cap Rate 6.41%
NOI $358,951
Occupancy 100%
Tenancy Multi
Price per SqFt $389
Broker Co-Op True
Year Built 1990
Stories 1
Acreage 1.190
Zoning C3
Parking Spaces 4.86 per 1,000 sq ft
Ground Lease No
Ownership Fee Simple
New on Market – 14,400 SF Retail Strip – Now 100% Occupied with New Lease - Boynton Beach, FL
Investment highlights
- 14,400 SF Retail Strip Located on Boynton Beach Boulevard Just West of I-95
- Ideal Small Bay Configuration with Below Market Rents and Multiple New Long Term Leases
- Newly Signed Anchor Tenants Include Vicky Bakery (20+ Locations), Corporate Amscot Financial (200+ Locations), and Purple Dragon Karate (2 Locations)
- Aggressive 3% to 4% Annual Base Rental Increases in Each Lease
- Recent Capital Improvements Include New Stucco Facade, Awnings, Painting, Lighting, Landscaping, New Monument Sign and Tenant Signage
- Located West of I-95 on Busy Boynton Beach Blvd., with Over 37,000 Average Daily Traffic Count and Multiple Ingress/Egress Points
- Excellent Visibility and Ample Parking Ratio of 4.86 Per 1,000 SF
- Densely Populated Submarket with Over $93,000 Average Household Income and 115,000 People Living within Three Miles of Subject Property
- Subject Property is Surrounded by Many National Retailers Including Publix, Starbucks, Wal-Mart, Wells Fargo & Chick-Fil-A
Listing Contacts
Listed by Marcus & Millichap
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$358,951.00
$29,912.58/mo
Valuation Metrics
0
DSCR
6.41%
Cap Rate
6.41%
ROI
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