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    3091 Military Trl Palm Springs, FL 33461

    Sponsored
    For Sale
    $3,600,000

    High-performing retail center, strong NOI.

    Property size:
    10,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a fee-simple ownership of a 10,000-square-foot, multi-tenant shopping center in Lake Worth Beach, Florida. The property, built in 2006 and renovated in 2024, sits on a 2.07-acre lot and boasts a 9,924-square-foot net rentable area. Currently 100% occupied with nine units, the center generates a substantial net operating income (NOI) of $323,398, representing an 8.98% cap rate. The asking price is $3,600,000, translating to $362.75 per square foot. Leases are absolute NNN with a remaining term of two years, commencing December 1, 2024, and expiring December 31, 2026, featuring a 3% annual rent bump. The property includes a high-performing express car wash with 21 vacuum stations and updated equipment, complemented by a fully occupied retail center with a waiting list of prospective tenants. This dual-income stream provides consistent cash flow, regardless of weather conditions. Located on South Military Trail, a high-traffic area exceeding 43,000 vehicles daily, the center benefits from strong demographics, with approximately 345,000 residents within a five-mile radius and an average household income of nearly $80,000. The property's prime location and robust financial performance make it an attractive investment in Palm Beach County's thriving retail market. The car wash has seen a 51% increase in NOI over the past six months compared to the previous six months. This property offers significant tax savings via accelerated bonus depreciation.

    Property Features for 3091 Military Trl

    General Information

    Property type
    Lifestyle centers
    Square Feet
    10,000 SF
    Class
    B
    Lot Size
    90,169 SF

    Building Details

    Year Built/Renovated
    2006/2024
    Buildings
    1
    Units
    9

    HighLights

    • Prime location on S Military Trail, exceeding 43,000 vehicles daily.
    • Recently updated car wash and retail building with new vacuums and equipment.
    • Turnkey operation including business and real estate.
    • Dual income streams from a high‑performing car wash and a fully occupied retail center.
    • High‑customer‑appeal car wash with 21 vacuum stations and a membership program.
    • Strong demographics in Palm Beach County, a high‑growth market.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palm Springs
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0926014
    Latitude
    26.6211772

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    FAQs

    What type of property is this?
    Lifestyle center - High-performing retail center, strong NOI.
    Where is this lifestyle center located?
    The property is located at 3091 Military Trl Palm Springs, FL.
    What is the asking price?
    The asking price for this property is $3,600,000.
    What are key features of this property?
    This property features: Prime location on S Military Trail, exceeding 43,000 vehicles daily.; Recently updated car wash and retail building with new vacuums and equipment.; Turnkey operation including business and real estate.
    Request Owner's contact information
    3091 Military Trl Palm Springs, FL 33461
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    Palm Springs, FL 33461
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3091 Military Trl Palm Springs, FL 33461
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