Available For Sale - Retail

18,000 SF | Show Pricing $

Retail Space in Delray Beach for sale

AVAILABILITY DETAILS

Size
18,000 SF
Price/SF
Show Pricing $
Listing ID
SA506993
Notes
SVN Commercial Partners, as exclusive agent, is pleased to present for sale, North Delray Plaza (the "Property"), a +/-18,000 rentable square foot grocery- anchored strip center in Delray Beach, Florida. The Property is situated just west of N Congress Avenue and Interstate-95 along Lake Ida Rd, a major east-west corridor in Delray Beach, one of the hottest markets in the entire country.



North Delray Plaza is 100% occupied, comprised of a diverse mix of service oriented tenants serving the northern communities of Delray Beach. All of the tenants have NNN leases and are responsible for their full pro-rata share of the Property's operating expenses. Additionally, all tenants have annual escalations based on the consumer price index, protecting investors from rapidly rising inflation and costs of operations.



The Property is located on the SE corner of David Rd and Lake Ida Rd. It is one of the only two shopping plazas within a 1.4-mile radius, so tenants have minimal competition, and the building has strong historical occupancy. North Delray Plaza benefits from a dedicated curb cut along Lake Ida Rd along with three points of ingress/egress, allowing for ease of access to all directions of traffic, and to the several residential communities in the area. The Property has +/- 425 feet of frontage along Lake Ida Rd, which experiences a traffic count of nearly 28,000 vehicles a day.



The Property is situated on a +/- 1.85-acre parcel with 72 dedicated parking spots, a 4:1000SF ratio, allowing for various tenant uses. Roughly 104,000 people live within a 3-mile radius of the Property which is expected to grow by nearly 6% within the next five years. North Delray Plaza is located minutes from downtown Delray Beach, a premier destination amongst tourists and locals boasting the hottest bars/restaurants, art galleries, developments and attractions in all of South Florida.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Elon Gerberg, SVN | Commercial Partners