500 51St St Boca Raton, FL 33431
- Retail properties
- 750 SF
- 0.74 lot acres
Current Use by Public Records
- Retail properties
Property Details for 500 51St St
- Year built
- 1993
- Lot size
- 0.74 lot acres
- Property size
- 750 SF
- Property type
- Retail properties
Description
This vacant 750-square-foot quick-service restaurant (QSR) building in Boca Raton, Florida, presents a compelling investment opportunity. Located on a 0.74-acre lot at 500 NE 51st St, the single-story, 1993-built property features a drive-thru and excellent visibility on Yamato Road, boasting 26,000 vehicles per day. Its strategic location is less than one mile from Interstate 95, providing easy access to major transportation routes. The area is densely populated, with numerous apartment complexes and a brand-new home development nearby, ensuring a strong customer base. Within a half-mile radius, there's over one million square feet of office space, and several shopping centers, including Shoppers Haven, Fifth Avenue Shops, and The Shops at University Park, are within close proximity. The property benefits from the presence of major national retailers and is surrounded by affluent residential areas with an average household income exceeding $125,000. Furthermore, its proximity to Florida Atlantic University, Lynn University, and Everglades University provides a substantial student population. This fee-simple property offers significant potential for redevelopment or lease to a new QSR operator, making it an attractive investment in a thriving South Florida market. The asking price is $2,400,000, resulting in a price per square foot of $3,200. The property is currently vacant.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Boca Raton
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0782
- Latitude
- 26.3942
