1620 Avenue E

Highlights:

• Lot Features: 1/4 To Less Than 1/2 Acre Lot, Corner Lot, Less Than 1 Acre, West Of US 1, Sidewalk
• Building Features: Sidewalk, Medium Traffic
• Number Of Buildings: 1
• Bathrooms Total: 0
• Documents Available: Copies Of Lease(S), Owner Managed
• Cooling: Ceiling Fan(s), Central Air
• Heating: Central
• Electric: 101-200 Amps, Separate Meters
• Flooring: Ceramic Floor
• Construction Materials: CBS Construction, Slab Construction
• Parking Features: Free Parking, Shared Parking
• Security Features: Smoke Alarm, Smoke Detector(s), Fire Alarm, Smoke Detector, Security Lights
• Ownership: Corporation

Description:

Excellent value-add investment opportunity in Riviera Beach! This 4,146 SF neighborhood retail center consists of five approximately 860 SF units on a 0.31-acre parcel with DG zoning. Currently 80% occupied with four established tenants and one vacant unit, offering immediate upside through lease-up. Existing tenants are on Modified Gross leases with 5% annual rent increases and reimbursement provisions for utilities and operating expense increases. The property has recently undergone exterior improvements, including a fresh building repaint and newly re-striped parking lot, enhancing curb appeal and reducing near-term capital needs. Current gross income exceeds $64,000 annually with the potential to increase significantly by leasing the remaining vacancy. Long-term leases provide stable.. Long-term leases provide stable cash flow while contractual rent escalations drive future NOI growth. Conveniently located near major thoroughfares, residential neighborhoods, and ongoing redevelopment throughout Riviera Beach. Ideal opportunity for investors seeking in-place income with clear value-add potential.

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Listing ID: B26045046