For Sale
$3,150,000

1901 BroadwayRiviera Beach, FL 33404

High-yield multi-tenant storefront.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 13,439 square foot multi-tenant storefront located at 1901 Broadway, Riviera Beach, FL 33404. The property, built in 1962 and renovated in 1995, sits on a 0.7-acre lot at a signalized, hard corner intersection with high visibility and traffic counts averaging 40,600 vehicles per day. Currently operating at 42% occupancy with four tenants under a Net Lease (NN) structure, this property offers a compelling value-add or redevelopment opportunity. The strong underlying real estate boasts a pro-forma NOI of $227,108 and a pro-forma cap rate of 7.21%. Its strategic location offers easy access to Interstate 95 (210,000 VPD), placing it within reach of the West Palm Beach, Boca Raton, and Fort Lauderdale markets. The property is directly across the street from Safe Harbor Rybovich, a significant marina operation. The asking price is $3,150,000. This is a rare chance to acquire a well-positioned retail property with significant upside potential in a thriving area. The property's prime location and potential for increased occupancy make it an attractive investment for discerning buyers seeking strong returns.

Highlights

  • Multi-tenant strip center in Riviera Beach, FL with value-add/redevelopment potential.
  • 42% occupied, offering significant lease-up or redevelopment opportunities.
  • High-visibility location at a signalized hard corner intersection of Broadway and W 20th Street (40,600 VPD).
  • Excellent access to I-95 (210,000 VPD) and major trade areas.
  • Directly across from Safe Harbor Rybovich, a large marina and boatyard.

Property Details for 1901 Broadway

Property type
Retail properties, Retail space
Year Built/Renovated
1962/1995
Lot Size (sq. ft)
30,492 SF

Location Insight

City
Riviera Beach
County
Palm Beach
State
Florida
Latitude
26.7782962
Longitude
-80.0551622
1901 Broadway, Riviera Beach, Florida

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1901 Broadway
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