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Riviera Beach, FL - Riviera Beach Strip

$3,150,000

1901-1939 Broadway, Riviera Beach, FL 33404

Active
Last Updated: 08/30/2024

5.55

Cap Rate

174,699

NOI

Details:
Cap Rate:    5.55%
NOI:    $174,699
Building Size:    13,439 sqft
Lot Area:    0.7 acres
Occupancy:    42%
Year Built:    1962
Year Last Renovated:    1995
Description:

• Opportunity to acquire the Riviera Beach Strip, a multi-tenant storefront in Riviera Beach, FL
• At 42% occupancy, a future investor will be able to capitalize on a value-add approach through the lease up of vacancies or re-development

• The site is located at the signalized, hard corner intersection of Broadway and W 20th Street averaging 40,600 VPD
• 3 miles East of Interstate 95 (210,000 VPD), allowing users to benefit from on/off ramp access to the site and surrounding West Palm Beach/Boca Raton/Fort Lauderdale trade areas
• Safe Harbor is considered the world’s largest marina owner and operator. Its parent corporation, Dallas-based Sun Communities, paid $369M for Rybovich’s century-old boatyard on North Flagler Drive in West Palm Beach and the Riviera yard in late 2020

Map:
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