1601 Federal Hwy Boca Raton, FL 33432-1929

This exceptional investment opportunity presents a 2,870 square foot freestanding retail building located at 1601 N Federal Highway in Boca Raton, Florida. The property, built in 2019, sits on a 0.65-acre lot and is currently occupied by a Tide Dry Cleaners franchisee under a Net Lease (NNN) agreement. The 15-year lease commenced February 1st, 2024, and includes five-year renewal options, providing long-term stability and predictable cash flow. The current lease boasts a remaining term of approximately 14.2 years, with rent bumps of 12% every five years, ensuring consistent growth in rental income. The property's strong financial performance is reflected in its current Net Operating Income (NOI) of $168,000, yielding a 5.20% capitalization rate. The asking price is $3,230,769, translating to a price per square foot of $1,125.70. This single-tenant, freestanding building offers a secure and attractive investment opportunity in a prime Boca Raton location, with the added benefit of a well-established national brand tenant. The property's parcel number is 06-43-47-17-00-000-5112. The property is zoned for retail use.