Downtown Delray Corner - 398 NE 6th Ave, Delray Beach, FL 33483

Downtown Delray Corner is just blocks away from Downtown Delray Beach and Atlantic Avenue, Delray Beach's main thoroughfare and most traveled, pedestrian friendly street. The area is home to numerous restaurants, art galleries, boutique retail stores and festivals. Additionally, the Property is just a half-mile west of the beach and only a 5-minute drive to Interstate-95. The Property is across the street from a Walgreens and Publix anchored Plaza, directly adjacent to a 1.5-acre Courchene Development custom townhome development and a half-mile north of Atlantic Crossings, a 9-acre mixed use development on Atlantic Avenue and Federal Hwy. Delray Beach consistently receives national recognition as a result of its abundant entertainment offerings and premier quality of life. It was named America's "Most Fun Small Town" in 2012, and the ATP Word Tour 250 Series men's tennis tournament is held every year at the Delray Beach Tennis Center on Atlantic Avenue, just a mile southwest of the Property. SVN Commercial Partners, as exclusive advisors, is pleased to present for sale, Downtown Delray Corner (the “Property”), a +/- fully occupied, 4,750 square foot retail and office plaza located on the southwest signalized corner of Lake Ida Road (NE 4th St) and NE 6th Avenue (US-1, two major thoroughfares in Delray Beach, Florida. Downtown Delray Corner benefits from ease of entry providing ingress and egress access to both corridors. The Property is currently leased to three service oriented tenants catering the the Delray Beach community. The average rent at the property is currently approximately $23/square foot NNN, roughly 30% below market, providing an investor upside in income growth by raising the rents to market. The Property sits on a .30 acre parcel zoned CBD (Central Business District), which allows for a maximum overall building height of 54 Feet (4 stories) and has many potential land uses including residential, office, industrial and retail. The Property offers 20 parking spots (4.21/1,000 square feet). The tenants' short term leases, ideal location, and liberal zoning make Downtown Delray Corner an ideal redevelopment opportunity.