235-245 NE 4th Ave
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235-245 NE 4th Ave
10,800 SF 100% Leased Office Building Delray Beach, FL 33483 $5,858,000 ($542/SF) 2.70% Cap Rate
Investment Highlights
- Hot Delray Beach Market 3 Blocks N. of Atlantic Avenue
- Currently 10,800 sf of Fully Leased Office fronting with its own private Parking Lot
- Build New and Increased Office Space on Southbound Federal with Parking Garage and Go up 4 Stories, ask to see plans
- Fronts on Both Southbound Federal Highway (5th Ave) and NE 4th Ave. Next Door to the New Hampton Hotel
- Change use to Residential or Mixed Use. Many Condos and Townhouse Projects in the Immediate Area. Hot Market for This Use.
- Zoning CBD-RC .67 ACRES. Call Laura 561-350-3103 or Cecelia 561-302-8978 for More Details
Executive Summary
Cash flowing 10,800 sq ft building with multiple tenants, located three blocks north of East Atlantic Ave. This property fronts on both Federal Highway (NE 5th Avenue) and NE 4 th Ave, adjacent to new Hampton Inn Hotel. This property is well positioned within one mile of the Beach and one mile of I-95. The site contains two free standing buildings totaling 10,800 sf of multi-tenant office and retail use. This parcel also contains its own private parking lot with 42 parking spaces, fronting NE 5th Avenue, in addition there is ample street parking. Possible space available for owner user at closing or reposition with new tenants at current market, several short-term leases currently in place.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
10,800 SF
Building Class
B
Year Built
1969
Price
$5,858,000
Price Per SF
$542
Cap Rate
2.70%
NOI
$158,166
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
5,400 SF
Building FAR
0.37
Lot Size
0.67 AC
Zoning
CBD-RC - Most flexible zoning in the Delray Beach. This zoning allows for Retail, Office,
Residential and Mixed Use, Hotel, Parking Garages, etc.
Parking
42 Spaces (3.89 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
Walk Score ®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 12-43-46-16-47-000-0180 | Improvements Assessment | $896,685 |
| Land Assessment | $2,304,461 | Total Assessment | $2,783,451 |
PROPERTY TAXES
Parcel Number
12-43-46-16-47-000-0180
Land Assessment
$2,304,461
Improvements Assessment
$896,685
Total Assessment
$2,783,451
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235-245 NE 4th Ave
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