504 E Atlantic AVE Delray Beach, FL 33483
4 Baths
2,902 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 2,902 sqft
Price per Sqft $1,362
MLS Listing ID R11140139
HOA Y/N No
Year Built 1935
Annual Tax Amount $39,721
Tax Year 2024
Lot Size 3,049 Sqft
Acres 0.07
Property Sub-Type Mixed Use
Property Description
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, providing future upside. Moreover, the second floor currently operates as two office spaces that are leased at below-market rents as well. 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.
Location
State FL
County Palm Beach
Area 4230
Zoning CBD(ci
Interior
Interior Features InteriorFeatures
Heating Central
Cooling Central Air
Flooring Other
Fireplace No
Exterior
Utilities Available Cable Available, Natural Gas Available
Water Access Desc Public
Roof Type Other
Building
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
Others
Tax ID 12434616g60000020
Security Features Fire Alarm,Smoke Detector(s)
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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