For Sale
$3,445,000

5026 Atlantic AveDelray Beach, FL 33484

High-yield, NNN-leased bank property.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 1,900 square foot, single-tenant retail property currently occupied by Fifth Third Bank, a highly rated financial institution. Located at 5026 W Atlantic Ave, Delray Beach, FL 33484, this property boasts a strong 20-year absolute NNN lease with four, five-year renewal options, featuring 10% rent increases every five years. The property sits on a 0.55-acre lot and was newly constructed in 2024, ensuring modern facilities. The current Net Operating Income (NOI) is $155,000, yielding a 4.50% cap rate on the $3,445,000 asking price. Benefiting from its location on a major retail corridor with high traffic volume (over 84,500 vehicles per day), this property enjoys excellent visibility and accessibility, close to Interstate-95 and the Florida Turnpike. The property is an outparcel to both the recently redeveloped Delray Landing shopping center (including a new Sprouts Farmers Market) and the high-traffic Delray Square Shopping Center, which includes a top-performing Publix supermarket. The surrounding area shows significant growth, with a 19% population increase within a five-mile radius over the past decade and an average household income of $132,000 within the same radius. Proximity to Palm Beach International Airport and Florida Atlantic University further enhances the property's value and potential. This is a low-maintenance, high-return investment with significant long-term growth prospects.

Highlights

  • Brand new construction with 10% rent increases every five years.
  • Ground lease with 20 years remaining, offering zero landlord responsibilities.
  • Strong population growth: 19.9% within a 5-mile radius.
  • High average household income: $132,000 within a 5-mile radius.
  • Excellent visibility: Located on Atlantic Ave & S Military Trail (84,500 vehicles per day).
  • Adjacent to a top-performing Publix supermarket.

Property Details for 5026 Atlantic Ave

Property type
Retail properties, Banks
Square Feet
1,900 SF
Year Built
2024
Lot Size (sq. ft)
23,958 SF

Location Insight

City
Delray Beach
County
Palm Beach
State
Florida
Latitude
26.457609266708
Longitude
-80.124286244649
5026 Atlantic Ave, Delray Beach, Florida

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5026 Atlantic Ave
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