2617 President Barack Obama Hwy - Storefront FOR SALE


Riviera Beach, FL 33404
$4,950,000 USD
561-214-4221
2617 President Barack Obama Hwy, Riviera Beach, FL for Sale
$4,950,000 USD
Storefront - FOR SALE
1/5
null | 7.24% Cap Rate

2617 President Barack Obama Hwy
Riviera Beach, FL 33404


HIGHLIGHTS

  • Long Term Lease
  • Attractive Rent Increases
  • Zero Landlord Responsibilities
  • Stong Guarantees
  • Prime Retail Location
  • Strong Demographics

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to acquire the fee simple interest in Riviera Plaza located at 2617 President Barack Obama Highway in Riviera Beach, Florida (the “Property”). The two-tenant plaza is improved with Riviera Meat Market and Riviera Beach Beauty Supply and contains 8,000 square feet on a 1.48-acre parcel. Riviera Meat Market has 19+ years remaining on their Triple Net (NNN) Lease. Riviera Beach Beauty Supply has occupied this location for more than 20 years and just signed a new 15-year Triple Net Lease, demonstrating their commitment to the site and the market. Riviera Meat Market’s lease calls for attractive annual rent increases beginning in year 4 of their lease. Riviera Plaza is well located along President Barak Obama Highway (SR 811), one of the area’s primary commercial and commuter corridors. The Property enjoys outstanding frontage, visibility and signage and is positioned across the street from the Riviera Beach municipal office campus, and the Inlet Grove Community High School. Riviera Plaza is seconds from the intersection with W Blue Heron Boulevard (SR 708), and offers convenient access to US Route 1, SR 710 and Interstate 95. Riviera Plaza is close to national and local retailers and restaurants that drive traffic to the area and is surrounded by densely populated residential neighborhoods providing a captive customer base.

FOR SALE DETAILS

PRICE

$4,950,000 USD

PRICE/SF

$619 USD /SF

CAP RATE

7.24%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Riviera Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1964

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.48 AC

LAND SF

64,469 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Alan AbdinHorvath & TremblayMore Info
561-214-4221

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Alan AbdinHorvath & TremblayMore Info
561-214-4221

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