Overview

Description

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 3,656 SF, freestanding, Former Burger King investment property located in West Palm Beach, Florida. The property is a former Burger King, a popular quick service restaurant which served the city of West Palm Beach and its many visitors The former tenant, is still paying a rent of $85,250 until October of 2027. The site is located on a BPD-5 (Brelsford Park District) zoning district, providing for a wide range of potential uses. The site presents an excellent lease-up or redevelopment opportunity in a highly desirable location.

The subject property is located near the signalized, hard corner intersection of N. Dixie Hwy and Palm Beach Lakes Blvd. with a combined (64,800 VPD). The site benefits from nearby direct on/off ramp access to Interstate 95, a major thoroughfare that averages over 247,000 vehicles passing by daily. The site is ideally situated right across the street from the new Nora District (40 acres), a $1 billion residential, dining, and business district that is scheduled to be completed at the end of 2024. It is the largest planned redevelopment in the West Palm’s history since CityPlace, now known as The Square. Furthermore, the asset is located in an immense retail corridor that includes The Square, a 600,000+ SF mixed-use development, that is anchored by Publix, LA Fitness, Lululemon, Sunglass Hut, Starbucks, and more. Other nearby national/credit tenants include Home Depot, Target, Whole Foods, T.J. Maxx, Michaels, Walgreens, CVS, and many more. The 5-mile trade area is supported by over 189,000 residents and 149,000 employees, providing a direct consumer base from which to draw. Residents within a 3-mile radius of the subject property boast an affluent average household income of $100,717.

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