4760 W Atlantic Ave - Bank FOR SALE
Delray Beach, FL 33445 |
$6,400,000 USD
561-427-6699
4760 W Atlantic Ave
Delray Beach, FL 33445
HIGHLIGHTS
- New 15-Year Regions Bank Ground Lease in top South Florida market
- Regions is relocating a nearby branch and building its latest double drive-thru prototype to better service its established customer base
- Fixed 10% increases provide hedge against inflation and an average return of 4.91% over the base term of the lease
- Shared traffic signal with Publix and Chick-fil-A fronting 43,500 VPD along Atlantic Ave. the primary East/West retail corridor serving Delray Beach
- Regions Bank is rated A- by Standard & Poors with a stable outlook and reported revenue of $7.6 billion in 2023
- Absolute Net Ground Lease provides completely passive ownership and stable cash-flow for absentee owner
OVERVIEW
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of this new 15-year Regions Bank ground lease in Delray Beach, FL. Regions is currently under construction and is scheduled to open in September. Rent commenced June 17 and will increase 10% every 5 years during the base term and option periods.
FOR SALE DETAILS
PRICE
$6,400,000 USD
PRICE/SF
$3,361 USD /SF
CAP RATE
4.45%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Regions Bank - New Relocation Branch
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Bank
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2024
SPRINKLERS
-
PARKING SPACES
26
LAND DETAILS
LAND ACRES
0.47 AC
LAND SF
20,492 SF
ZONING
B-1
APN/PARCEL ID
12-42-46-13-01-000-0080
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561-427-6699
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561-427-6699
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