9940 Belvedere Rd | Royal Palm Beach, FL 33411
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9940 Belvedere Rd
Royal Palm Beach, FL 33411
Retail Property For Sale
Investment Highlights
- Multi-tenant Retail Strip Shadow Anchored by Top 7% Walmart Nationwide
- 60% of the Tenants have Occupied their Space for Over a Decade
- Average Household Income within 1-Mile Radius of $128,542
- Synergistic Service Driven Tenant Mix - 50% Medical & 40% Food & Beverage
- 40% of Center Occupied by National Tenant
- All Tenants Separately Metered for Electric and Water
Executive Summary
Marcus & Millichap, as exclusive agent, is pleased to market for sale 9940 Belvedere Road in Royal Palm Beach, Florida. 9940 Belvedere Road is a 12,600 square foot multi-tenant retail property that is shadow anchored by Walmart. The property is located just east of the signalized intersection of State Road 7 and Belvedere Road. It benefits from 42,500 vehicles per day along State Road 7 and nearly 20,000 vehicles per day along Belvedere Road. The property was built in 2004 and is 100% occupied, of which 40% is occupied by national tenants. Many of the tenants have operated at the property for more than 10 years showing a commitment to the location.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Building Size
12,600 SF
Building Class
B
Year Built
2004
Price
$7,800,000
Price Per SF
$619
Cap Rate
5.01%
NOI
$390,731
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.20
Lot Size
1.48 AC
Zoning
CG - Commercial General
Parking
64 Spaces (5.08 Spaces per 1,000 SF Leased)
Frontage
190 FT on Belvedere Rd
Amenities
- Corner Lot
- Restaurant
PROPERTY TAXES
| Parcel Number | 72-42-43-31-07-000-0030 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,567,814 |
PROPERTY TAXES
Parcel Number
72-42-43-31-07-000-0030
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,567,814
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