217 E Atlantic Ave - Restaurant FOR SALE


Delray Beach, FL 33444
$14,500,000 USD
786-338-5731
217 E Atlantic Ave, Delray Beach, FL for Sale
$14,500,000 USD
Restaurant - FOR SALE
1/10
null | Request Cap Rate

217 E Atlantic Ave
Delray Beach, FL 33444


HIGHLIGHTS

  • Irreplaceable High Street Restaurant/Nightclub Property Located on Atlantic Avenue
  • Two Separate Kitchens and Additional Parking in Back
  • Ideal Owner/User or Value Add Investor Opportunity to Re-Rent Vacant Spaces to One or Multiple Tenants
  • Seller Financing Available Based on Buyer Qualifications
  • Coveted Entertainment District Provides the Ability to Operate till 2AM
  • Home to High-End Neighboring Tenants Incl City Oyster & Sushi Bar, Starbucks, Urban Outfitters, It’s Sugar, Sunglass Hut &Tommy Bahama’s

OVERVIEW

Marcus & Millichap are proud to exclusively market 217 East Atlantic Avenue, the former Buddha Sky Bar, in the heart of the thriving downtown Delray Beach entertainment district. The three-story property encompasses 10,330 +/- square feet of GLA and includes two kitchens along with eleven dedicated parking spaces behind the building. The building is ideal for a high-end restaurant end user in an irreplaceable Downtown Delray Beach location. The property sits in a prime area of Delray Beach on the 200 Block of East Atlantic Avenue with Johnny Browns, Lion Fish, City Oyster and many of the other major hospitality within steps of the subject property. Comparable properties have sold recently in the immediate area for upwards of $1,600 per square foot. This area is positioned for even more significant growth with a number of large projects under construction, including Sunday Village, Atlantic Crossing, The SWAN apartment project, and 301 apartment project, as well as the Delray Beach Market that is bringing in two new large entertainment concepts including Bounce and Leftkes a Greek concept.

FOR SALE DETAILS

PRICE

$14,500,000 USD

PRICE/SF

$1,404 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1939

SPRINKLERS

-

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

CBD

APN/PARCEL ID

12-43-46-16-01-084-0102

ASK ABOUT THIS PROPERTY

Kirk OlsonMarcus & MillichapMore Info
786-338-5731

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Kirk OlsonMarcus & MillichapMore Info
786-338-5731

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