1424-1450 N Federal Hwy - Restaurant FOR SALE


Boca Raton, FL 33432
$8,900,000 USD
561-564-0329
1424-1450 N Federal Hwy, Boca Raton, FL for Sale
$8,900,000 USD
Restaurant - FOR SALE
1/28
null | 7.42% Cap Rate

1424-1450 N Federal Hwy
Boca Raton, FL 33432


HIGHLIGHTS

  • MOTIVATED OWNER , BUILDING AS IS . WITH OR WITHOUT TENANT OPTIONS
  • Walking Distance to Downtown Boca Raton and the new Brightline Train Station and it is part of the Florida Atlantic University Corridor
  • The restaurant is located on the heavily trafficked N Federal Hwy/Glades Road intersection with great parking access
  • 256 Seats indoor/outdoor with 93 parking spaces.
  • NOVEMBER 2022 CURRENT LENDER'S APPRAISAL ATTACHED.

OVERVIEW

For Sale BY OWNER offering a 3% Commission to Buyer's Agent HUGE PRICE REDUCTION FOR A QUICK SALE ( Down from 9.8 MILLION). The restaurant is currently UNDER PERMITTING PROCESS TO REBRAND AS MEDALLION LOUNGE, A NEW CONCEPT BY CURRENT OWNER BUT BEFORE PERMITS ARE ISSUED AND CONSTRUCTION STARTS I AM OPEN TO BETTER SUGGESTIONS. Attached are the architectural plans for enclosing under AIR another 1500 square feet of the covered patio and Breezeway as a separate Dining room/ meeting area for private meetings and events. The authentic autographed pictures on the walls are not subject to this sale and the building is sold AS IS. LOCATION, LOCATION, THE LOCATION MOST SOUGHT AFTER AS A HEADQUARTER OF MAJOR CORPORATIONS: Free Standing, great looking building is a fully built-out restaurant with its own 93 space parking lot, located just north of the major intersection of Glades and Federal Highway, WALKING DISTANCE FROM THE BOCA RATON RAC ZONED MIZNER PARK DOWNTOWN AND THE NEWLY CONSTRUCTED BRIGHTLINE STATION (connecting to Orlando and Miami), IN THE FAU CORRIDOR CLOSE TO TWO UNIVERSITIES. (Florida Atlantic University and Lynn University) Current use is a restaurant but owner, Toula Amanna, bought it with the intention to partner up with the neighbors for a TEN ACRE LAND ASSEMBLAGE starting with the Office building in the corner of Glades and Federal and incorporating the Gas Station, the Car Wash, and the two floor condo office building in the back of the gas station. That option , to bring people together to do something smart and enhance further the Boca Raton Downtown area in a massive TEN-ACRE PARCEL remains feasible for a talented negotiator or developer who will be favorably seen as decent and honest by the landowners. What is needed for the assemblage is a single developer/negotiator who will be seen as such, to come forward with a decent meeting for all of us together, to have a meeting of the minds. Please send proposal directly to Toula.Amanna@Gmail.com

FOR SALE DETAILS

PRICE

$8,900,000 USD

PRICE/SF

$950 USD /SF

CAP RATE

7.42%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

For Sale By Owner

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Bank, Medical, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2013

SPRINKLERS

-

PARKING SPACES

93

LAND DETAILS

LAND ACRES

1.36 AC

LAND SF

59,242 SF

ZONING

B4

APN/PARCEL ID

06-43-47-20-15-001-0011

ASK ABOUT THIS PROPERTY

Toula AmannaRegulus Alliance CorporationMore Info
561-564-0329

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Toula AmannaRegulus Alliance CorporationMore Info
561-564-0329

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.