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Fantastic opportunity to own Mixed-Use Commercial Building facing the Palm Beach International Airport

$1,100,000

1709 Belvedere Road, West Palm Beach, FL 33406

Active
Last Updated: 02/09/2023

6.2

Pro Forma Cap Rate

3,545 sqft

Building Size

Details:
Pro Forma Cap Rate :    6.2%
Building Size:    3,545 sqft
Lot Area:    10,503 sqft
Occupancy:    33%
Class:    C
Units:    2
Lease Type:    Triple Net
Year Built:    1965
Zoning:    GC - General Commercial
Tenancy:    Multiple
Floors:    1
Parking Spots:    9
Gross Leaseable Area:    3,360
Roof:    2015
Investment Strategy:    Value Add
Lease Expire Year:    01/31/2025
Highlights:
  • Rare opportunity to acquire a mixed- use Building on Belvedere Rd, West Palm Beach
  • Directly across from Drive Shack and Palm Beach International Airport
  • On-site Parking
  • Close to major highways
  • Exceptional Site
  • 34,669 VPD
Description:

Fantastic opportunity to own a mixed-use Commercial building facing the Palm Beach International Airport! The offering presents investors or developers with the
opportunity to acquire an exceptional site in a high barrier to entry market in desirable neighborhood of Palm Beach International Airport.This property is located on Belvedere Road with a high-traffic count going east-west. Comprised of ground-floor office space on the west and restaurant on the east side. Throughout the years, the properties have experienced limited to no vacancies. This location is in the central-east portion of developed Palm Beach County and one mile to Interstate 95. The main influence in this market is the Palm Beach International Airport. Belvedere Road is comprised with commercial business which predominantly caters to the business needs of the airport making this an active commercial retail area with high demands. The restaurant is currently occupied by a pizza restaurant paying NNN lease. The large office space is currently vacant, presenting the opportunity to renovate, divide and re-lease or re-purpose. Currently, there are many potential tenants that have acquired about the vacant space.

Map:
Documents:
Title
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Location
Gallery