217 E Atlantic Ave
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217 E Atlantic Ave
10,330 SF Retail Building Delray Beach, FL 33444 $14,500,000 ($1,404/SF)
Investment Highlights
- Irreplaceable High Street Restaurant/Nightclub Property Located on Atlantic Avenue
- Ideal Owner/User or Value Add Investor Opportunity to Re-Rent Vacant Spaces to One or Multiple Tenants
- Coveted Entertainment District Provides the Ability to Operate till 2AM
- Two Separate Kitchens and Additional Parking in Back
- Seller Financing Available Based on Buyer Qualifications
- Home to High-End Neighboring Tenants Incl City Oyster & Sushi Bar, Starbucks, Urban Outfitters, It’s Sugar, Sunglass Hut &Tommy Bahama’s
Executive Summary
Marcus & Millichap are proud to exclusively market 217 East Atlantic Avenue, the former Buddha Sky Bar, in the heart of the thriving downtown Delray Beach entertainment district. The three-story property encompasses 10,330 +/- square feet of GLA and includes two kitchens along with eleven dedicated parking spaces behind the building. The building is ideal for a high-end restaurant end user in an irreplaceable Downtown Delray Beach location.
The property sits in a prime area of Delray Beach on the 200 Block of East Atlantic Avenue with Johnny Browns, Lion Fish, City Oyster and many of the other major hospitality within steps of the subject property. Comparable properties have sold recently in the immediate area for upwards of $1,600 per square foot.
This area is positioned for even more significant growth with a number of large projects under construction, including Sunday Village, Atlantic Crossing, The SWAN apartment project, and 301 apartment project, as well as the Delray Beach Market that is bringing in two new large entertainment concepts including Bounce and Leftkes a Greek concept.
The property sits in a prime area of Delray Beach on the 200 Block of East Atlantic Avenue with Johnny Browns, Lion Fish, City Oyster and many of the other major hospitality within steps of the subject property. Comparable properties have sold recently in the immediate area for upwards of $1,600 per square foot.
This area is positioned for even more significant growth with a number of large projects under construction, including Sunday Village, Atlantic Crossing, The SWAN apartment project, and 301 apartment project, as well as the Delray Beach Market that is bringing in two new large entertainment concepts including Bounce and Leftkes a Greek concept.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
10,330 SF
Building Class
B
Year Built/Renovated
1939/2008
Price
$14,500,000
Price Per SF
$1,404
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.25
Lot Size
0.19 AC
Zoning
CBD - Central Business District
Parking
11 Spaces (1.06 Spaces per 1,000 SF Leased)
Frontage
39 FT on E Atlantic Ave
Walk Score ®
Walker's Paradise (93)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 12-43-46-16-01-084-0102 | Improvements Assessment | $3,259,389 |
| Land Assessment | $4,706,129 | Total Assessment | $7,406,769 |
PROPERTY TAXES
Parcel Number
12-43-46-16-01-084-0102
Land Assessment
$4,706,129
Improvements Assessment
$3,259,389
Total Assessment
$7,406,769
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217 E Atlantic Ave
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