1200 Atlantic Avenue, Delray Beach, FL, 33483

Built 1951

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.

Want this one on your shortlist? Ask Hobson to compare it with similar homes, or call Paul Schafranick at 561-255-7285.

Listing courtesy of Apollo Investment & Real Estat.