Current Use by Public Records
- Lifestyle centers
Property Details for 11701 Us-1
- Year built
- 2000
- Lot size
- 2.42 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional Class A shopping center, located at 11701 US-1 in North Palm Beach, Florida, presents a compelling investment opportunity. The 20,008-square-foot property, built in 2000 and renovated in 2015, sits on a 2.42-acre lot and boasts a 100% occupancy rate with three tenants. The current Net Operating Income (NOI) is $550,000, with a pro-forma NOI of $718,000, reflecting a potential for significant rental growth. The asking price is $11,900,000, representing a 4.62% cap rate and a pro-forma cap rate of 6.03%. The property features a strong tenant mix, including City Mattress, and benefits from ample parking (5 spaces per 1,000 sq ft), two curb cuts, and two monument signs, ensuring excellent visibility and accessibility. The property is zoned for general commercial use and offers flexible lease restructuring opportunities. This fee-simple ownership opportunity provides a stable income stream with substantial upside potential in a prime North Palm Beach location. The building is a single-story structure with a flat deck roof membrane and CBS construction, minimizing maintenance costs. Rent bumps are included in the lease agreements. This is a rare chance to acquire a high-quality, well-located retail asset in a thriving market.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Palm Beach
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0604
- Latitude
- 26.8471
