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    1200 Atlantic Ave Delray Beach, FL 33483

    Sponsored
    For Sale
    $8,500,000

    Prime location, high income potential.

    Property size:
    11,300 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property at 1200 E Atlantic Avenue in Delray Beach, Florida, presents a lucrative investment opportunity. The 11,300 square foot building, constructed in 1951, sits on a lot with an undisclosed size and currently boasts 90% occupancy across its six units. Priced at $8,500,000, it offers a compelling 5.00% cap rate, promising strong returns on investment. The property's prime location on East Atlantic Avenue in the desirable Palm Beach County provides immediate income generation, while its redevelopment potential is significant. Architectural renderings from Randall Stofft Architects showcase the possibility of transforming the existing structure into five distinct retail spaces and five luxurious condominiums. This presents a dual opportunity: hold for long-term appreciation or capitalize on the substantial redevelopment potential to create a high-value mixed-use development. The property's current income stream provides a solid foundation for future growth, making it an attractive proposition for both seasoned investors and developers seeking a prime location in a thriving Florida market. The zip code is 33483.

    Property Features for 1200 Atlantic Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    11,300 SF

    Building Details

    Year Built
    1951
    Units
    6

    HighLights

    • $8,500,000 asking price.
    • 11,300 square foot mixed‑use property.
    • 5.00% cap rate with 90% occupancy.
    • Six units total.
    • Built in 1951.
    • Located at 1200 E Atlantic Avenue, Delray Beach, FL 33483.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Artist's Palate Art Cafe

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Delray Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0596914
    Latitude
    26.4615486

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    FAQs

    What type of property is this?
    Mixed-use property - Prime location, high income potential.
    Where is this mixed-use property located?
    The property is located at 1200 Atlantic Ave Delray Beach, FL.
    What is the asking price?
    The asking price for this property is $8,500,000.
    What are key features of this property?
    This property features: $8,500,000 asking price.; 11,300 square foot mixed-use property.; 5.00% cap rate with 90% occupancy.
    Request Owner's contact information
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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
    1200 Atlantic Ave Delray Beach, FL 33483
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