12001 Southern Blvd Loxahatchee, FL 33470-4994
- Drug stores
- 15,072 SF
- 2.04 lot acres
Nov 11, 2024
Current Use by Public Records
- Drug stores
Property Details for 12001 Southern Blvd
- Year built
- 2001
- Construction
- CONCRETE
- Lot size
- 2.04 lot acres
- Property size
- 15,072 SF
- Zone code
- CG
- Property type
- Drug stores
- APN
- 72-41-43-17-01-901-0070
- APU
- 72414317019010070
Description
This fee-simple retail property, located at 12001 Southern Blvd, Loxahatchee Groves, FL 33470, offers a compelling investment opportunity. The 15,120 square foot building sits on a 2.03-acre lot and features 58 parking spaces. Currently occupied by a Walgreens pharmacy under a triple-net (NN) lease, the property boasts a strong financial profile. The lease, commencing June 1, 2001, and expiring May 31, 2031, has a remaining term of 6.5 years with eight 5-year renewal options. The asking price is $5,278,000, representing a price per square foot of $349.07 and a 6.50% cap rate. Built in 2001, this single-story building benefits from its location at a signalized intersection with over 80,000 cars passing daily. The property enjoys exceptional demographics, with over 125,000 people within a five-mile radius and an average household income exceeding $130,000. Its adjacency to the 94-acre Palms West Hospital campus further enhances its desirability. The Walgreens tenant is credit-rated, and the property offers significant upside potential due to the high sales volume and recent lease extension. The property is free of debt and requires minimal landlord responsibilities, limited to roof and structure maintenance. Florida's absence of state income tax adds to the investment's attractiveness.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Loxahatchee
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.2476
- Latitude
- 26.6825
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
