Property Details for 5026 Atlantic Ave

Year built

2024

Lot size

0.55 lot acres

Property size

1,900 SF

Property type

Retail properties & Spaces

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