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https://properties.svn.com/pp
$16,000,000 (250/square foot) - Peachtree Plaza
$2,000,000 (2M/acre) Outparcel
Portfolio Price: $18,000,000
SVN Commercial Partners is pleased to present Peachtree Plaza, a 64,000-square-foot retail and medical plaza in Delray Beach, Florida, for sale. Situated on over 8 acres along Atlantic Avenue, the property includes a prime 1-acre outparcel and benefits from approximately 50,000 vehicles passing by daily. Originally built in 1984 and upgraded since 2019, Peachtree Plaza is 86% occupied with rents about 20% below market rates, offering immediate value-add potential. Nearly half the tenants have leases expiring by 2025, and the outparcel pad is zoned for a 10,000-square-foot structure, with the potential to generate $150,000 in additional net income.
Peachtree Plaza features 800 feet of frontage on Atlantic Avenue, a key east-west corridor connecting to the Florida Turnpike and I-95. The property enjoys excellent visibility and access from two points, including a signalized intersection. With over 216,000 residents within 5 miles and an average household income of $90,000, the area shows strong demand, especially for medical services, reflected by tenants like ChenMed.
Surrounded by major retailers such as Publix, Starbucks, and Sprouts, and prestigious country clubs, Peachtree Plaza is positioned in a high-traffic, affluent area. Recent ownership improvements, such as repaving and exterior repainting, highlight the property's diligent maintenance. This plaza presents a unique investment opportunity with substantial upside potential in one of the most desirable markets in the country.