Description
An amazing Delray Beach opportunity within this Commercial Investment restaurant property. Great and consistent cash flow with virtually no effort or cost to the owner. Property faces appr 211 feet on 5th Avenue which is southbound Federal Hwy and has heavy traffic passing all day, everyday. It's just south and within walking distance of Atlantic Avenue. The current tenant has an excellent reputation and has been established on site for 6 years with approximately 4 years left on the current NNN lease. Zoning is the broad and open Central Business District for considering future uses. CBD Zoning affords all the permitted uses of GC and a long list of others as well as countless conditional uses. An excellent building and almost 29,000 sf of improved land convey to the fortunate new owner.AWP is proud to present this fantastic opportunity in Delray Beach Florida. The Property is currently leased to the Granger's Grille Restaurant who has occupied the property of 2,783sf for more than 6 years. The triple net lease, ideal location, and liberal zoning make this Delray Beach spot an ideal investment opportunity with future redevelopment potential. In less than 4 years, the lease expires with the tenant having two 5 year options but with the Seller having the ability to set the new rent price and structure. This 28,800+sf parcel sits on Fed & 8th zoned CBD (Central Business District), which allows for a maximum overall building height of 54 Feet (4 stories) and has many potential land uses including residential, office, industrial and retail. The Property offers ample parking spots. Fed & 8th is just blocks away from Downtown Delray Beach and it's famed Atlantic Avenue, Delray Beach's main thoroughfare and most traveled, pedestrian friendly street. The area is home to numerous restaurants, art galleries, boutique retail stores and festivals. Additionally, the Property is just a half-mile west of the beach and only a 5-minute drive to Interstate-95. Delray Beach consistently receives national recognition as a result of its abundant entertainment offerings and premier quality of life. It was named America's "Most Fun Small Town" multiple times.
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0BEDS
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0.66ACRES
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0BATHS
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01/2 BATHS
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2,783SQFT
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$1,347$/SQFT
School Ratings & Info
Description
An amazing Delray Beach opportunity within this Commercial Investment restaurant property. Great and consistent cash flow with virtually no effort or cost to the owner. Property faces appr 211 feet on 5th Avenue which is southbound Federal Hwy and has heavy traffic passing all day, everyday. It's just south and within walking distance of Atlantic Avenue. The current tenant has an excellent reputation and has been established on site for 6 years with approximately 4 years left on the current NNN lease. Zoning is the broad and open Central Business District for considering future uses. CBD Zoning affords all the permitted uses of GC and a long list of others as well as countless conditional uses. An excellent building and almost 29,000 sf of improved land convey to the fortunate new owner.AWP is proud to present this fantastic opportunity in Delray Beach Florida. The Property is currently leased to the Granger's Grille Restaurant who has occupied the property of 2,783sf for more than 6 years. The triple net lease, ideal location, and liberal zoning make this Delray Beach spot an ideal investment opportunity with future redevelopment potential. In less than 4 years, the lease expires with the tenant having two 5 year options but with the Seller having the ability to set the new rent price and structure. This 28,800+sf parcel sits on Fed & 8th zoned CBD (Central Business District), which allows for a maximum overall building height of 54 Feet (4 stories) and has many potential land uses including residential, office, industrial and retail. The Property offers ample parking spots. Fed & 8th is just blocks away from Downtown Delray Beach and it's famed Atlantic Avenue, Delray Beach's main thoroughfare and most traveled, pedestrian friendly street. The area is home to numerous restaurants, art galleries, boutique retail stores and festivals. Additionally, the Property is just a half-mile west of the beach and only a 5-minute drive to Interstate-95. Delray Beach consistently receives national recognition as a result of its abundant entertainment offerings and premier quality of life. It was named America's "Most Fun Small Town" multiple times.