Available For Sale - Retail

63,629 SF | Show Pricing $

LISTED BY

Adam H. Klein
SVN | Commercial Partners, 561-282-9296

AVAILABILITY DETAILS

Size
63,629 SF
Price/SF
Show Pricing $
Listing ID
SA555467
Notes
SVN Commercial Partners, as the exclusive agent, is pleased to present for sale Peachtree Plaza (the “Property”), a +/- 64,000-square-foot retail and medical plaza located in Delray Beach, Florida (West Palm Beach MSA). The Property is situated on over 8-acres along W Atlantic Avenue between Jog Road and S Military Trail, including a prime 1-acre outparcel at the signalized corner of Via Flora and Atlantic Avenue, benefiting from a combined traffic count of approximately 50,000 vehicles per day.



Originally built in 1984, Peachtree Plaza has undergone significant upgrades since 2019, ensuring it remains modernized and well-maintained. Currently 86% occupied, the Property offers in-place rents approximately 20% below prevailing market rates. 42% of the tenancy has leases that expire by the end of 2025 creating an immediate value-add opportunity for rental growth. The Property also includes a one-acre outparcel pad that is primed for development. Per code, the outparcel pad can accommodate up to a 10,000 square-foot structure with the potential for a ground lease that generates over $150,000 of additional net income.



Peachtree Plaza boasts nearly 800-feet of frontage on Atlantic Avenue, a major east-west thoroughfare in Palm Beach County that provides access to the Florida Turnpike, Interstate 95, Downtown Delray Beach, and the beach. The Property features two access points along Atlantic Avenue, including a signalized intersection, ensuring excellent visibility and convenient access for all directions of traffic.



More than 216,000 people reside within a 5-mile radius, with an average household income of approximately $90,000. Recent additions to the tenant mix, including ChenMed, reflect the growing transition from traditional retail to medical use, supported by a strong demand for medical services from an aging population (average age of over 65 years within a 3-mile radius).



Peachtree Plaza is surrounded by several prestigious golf and country clubs, including Gleneagles Country Club, Addison Reserve Country Club, Mizner Country Club, and Seagate Golf Club, and is located just a block from Hamlet Country Club. The area is also surrounded by major retailers such as Sprouts Farmers Market, Publix, Ross Dress for Less, MD Now, Starbucks, CVS, Hobby Lobby, and Planet Fitness. The current ownership has invested in recent improvements, such as repaving and striping the parking lot and repainting the building exterior, demonstrating pride of ownership and diligent maintenance.



Peachtree Plaza presents a rare opportunity for investors to acquire a well-located, income-producing asset with significant upside potential in one of the most sought-after markets in the country.
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
Adam H. Klein, SVN | Commercial Partners
BRE# BK3403931