1620 Avenue E, West Palm Beach, FL 33404
- $750,000
- List Price
- $750,000
- MLS#
- B26045046
- Status
- ACTIVE WITH CONTRACT
- Type
- Commercial
Property Description
Excellent value-add investment opportunity in Riviera Beach! This 4,146 SF neighborhood retail center consists of five approximately 860 SF units on a 0.31-acre parcel with DG zoning. Currently 80% occupied with four established tenants and one vacant unit, offering immediate upside through lease-up. Existing tenants are on Modified Gross leases with 5% annual rent increases and reimbursement provisions for utilities and operating expense increases. The property has recently undergone exterior improvements, including a fresh building repaint and newly re-striped parking lot, enhancing curb appeal and reducing near-term capital needs. Current gross income exceeds $64,000 annually with the potential to increase significantly by leasing the remaining vacancy. Long-term leases provide stable.. Long-term leases provide stable cash flow while contractual rent escalations drive future NOI growth. Conveniently located near major thoroughfares, residential neighborhoods, and ongoing redevelopment throughout Riviera Beach. Ideal opportunity for investors seeking in-place income with clear value-add potential.
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Additional Information
- Days on Market
- 20
- Tax Amount
- $7,510
- Water Access
- Building Only, Business And Building
- Parcel Number
- 56434233040060130
- Directions
- Heading South on Broadway from Blue Heron Blvd. Make a right on W 17th Street heading west. Property is on your left, on the corner of Ave E and W 17th.
- Address
- 1620 Avenue E, West Palm Beach
- Year Built
- 1966
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Listing Courtesy of Keller Williams Realty/P B, Contact: