1601 Federal Hwy Boca Raton, FL 33432-1929
- Drive through restaurants
- 2,756 SF
- 0.64 lot acres
Current Use by Public Records
- Drive through restaurants
Property Details for 1601 Federal Hwy
- Year built
- 1970
- Construction
- CONCRETE
- Lot size
- 0.64 lot acres
- Property size
- 2,756 SF
- Zone code
- B-4
- Property type
- Drive through restaurants
- APN
- 06-43-47-17-00-000-5112
- APU
- 6434717000005112
Description
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.
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
- Boca Raton
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0803
- Latitude
- 26.3653
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
