5026 Atlantic Ave Delray Beach, FL 33484

Property Details for 5026 Atlantic Ave

Year built

2024

Lot size

0.55 lot acres

Property size

1,900 SF

Property type

Retail properties

Property subtype

Banks

Description

This exceptional investment opportunity presents a 1,900 square foot, single-tenant retail property currently occupied by Fifth Third Bank, a highly rated financial institution. Located at 5026 W Atlantic Ave, Delray Beach, FL 33484, this property boasts a strong 20-year absolute NNN lease with four, five-year renewal options, featuring 10% rent increases every five years. The property sits on a 0.55-acre lot and was newly constructed in 2024, ensuring modern facilities. The current Net Operating Income (NOI) is $155,000, yielding a 4.50% cap rate on the $3,445,000 asking price. Benefiting from its location on a major retail corridor with high traffic volume (over 84,500 vehicles per day), this property enjoys excellent visibility and accessibility, close to Interstate-95 and the Florida Turnpike. The property is an outparcel to both the recently redeveloped Delray Landing shopping center (including a new Sprouts Farmers Market) and the high-traffic Delray Square Shopping Center, which includes a top-performing Publix supermarket. The surrounding area shows significant growth, with a 19% population increase within a five-mile radius over the past decade and an average household income of $132,000 within the same radius. Proximity to Palm Beach International Airport and Florida Atlantic University further enhances the property's value and potential. This is a low-maintenance, high-return investment with significant long-term growth prospects.

Location Insight

City

Delray Beach

County

Palm Beach

State

Florida

Longitude

-80.1243

Latitude

26.4576