Property Details for 14860 Military Trl

Property size

86,118 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 86,118 square foot shopping center in Delray Beach, Florida boasts a prime location at the intersection of Military Trail and Atlantic Avenue, just three miles from downtown. The property benefits from strong demographics, with over 228,000 residents within a 5-mile radius and an average household income exceeding $110,000. Currently 96.5% occupied, the center features a diverse mix of tenants, including major national anchors such as Michaels, Starbucks, CVS, and Conviva, all operating under triple-net leases. This ensures immediate and stable cash flow in a submarket with limited vacancy. The weighted average lease term (WALT) exceeds 8 years, providing long-term stability, with 60% of the rentable square footage occupied by national tenants on leases with at least six years remaining. The property offers nearly 1,300 feet of high-visibility frontage along heavily trafficked Atlantic Avenue and Military Trail. Its strategic location is further enhanced by surrounding retailers, attractions, and educational facilities. An assumable, interest-only loan of $18.5 million is available, with a 7.2% interest rate and four years remaining. This recently repositioned and stabilized retail center presents a compelling investment opportunity. The property's strong tenant mix, high occupancy, and long-term leases contribute to its exceptional financial performance and future potential. The combination of a desirable location, strong demographics, and a stable tenant base makes this a truly exceptional investment opportunity.

Location Insight

City

Delray Beach

County

Palm Beach

State

Florida

Longitude

-80.1221

Latitude

26.456