4720 Broadway West Palm Beach, FL 33407-2904
- Drive through restaurants
- 1,776 SF
- 0.34 lot acres
Current Use by Public Records
- KFC / Chicken Restaurant / Fast Food Restaurant
Property Details for 4720 Broadway
- Year built
- 1966
- Construction
- WOOD
- Lot size
- 0.34 lot acres
- Property size
- 1,776 SF
- Zone code
- BMUD- II
- Property type
- Drive through restaurants
- APN
- 74-43-43-04-04-019-0150
- APU
- 74434304040190150
Description
This exceptional investment opportunity presents a 1,776 square foot KFC restaurant located at 4720 Broadway, West Palm Beach, FL 33407, in Palm Beach County. The property, built in 1966 and extensively renovated in 2018, sits on a 0.339-acre lot and operates under a 20-year NNN lease with a franchisee tenant, commencing July 1, 2019, and expiring July 1, 2039. This leaves a substantial 14.6 years remaining on the lease term. The current asking price is $2,526,141, representing a price per square foot of $1,422.38 and a 5.00% cap rate. The property boasts a 100% occupancy rate since its occupancy date of July 1, 2019, generating a strong net operating income (NOI) of $126,307. The lease includes four options and features a 10% rent increase every five years, ensuring consistent income growth. The property is zoned BMUD-II and consists of a single, one-story building. This is a rare opportunity to acquire a well-established, high-performing KFC location with a long-term lease and significant upside potential.
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
- West Palm Beach
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0557
- Latitude
- 26.7541
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
