For Sale
$5,100,000

1069 Military TrlHaverhill, FL 33409

10-Tenant Net Lease Retail Center, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 10,000-square-foot shopping center, located at 1069 N Military Trl, Haverhill, FL 33409, presents a compelling investment opportunity. The property, built in 1965 and renovated in 2014, features a single, one-story building situated on a 0.98-acre lot. Currently boasting 100% occupancy with ten tenants under Net Lease agreements, the center generates a substantial Net Operating Income (NOI) of $257,000, representing a 5.04% cap rate. All leases are NNN, providing significant tenant responsibility for operating expenses, and include rent bumps. The remaining lease term averages 10 years, ensuring long-term stability and predictable cash flow. Recent improvements include a new roof coating with a 10-year warranty and a freshly painted building and resealed parking lot. Furthermore, a vacant lot is included, offering potential for future expansion or development. This fee-simple ownership opportunity is ideal for a 1031 exchange. The property's strong tenant mix, consistent occupancy history, and recent upgrades make it a highly attractive investment in the thriving Haverhill, Florida market. Several tenants also pay their own water bills. This well-maintained plaza has a history of zero vacancies. The asking price is $5,100,000.

Highlights

  • 10,000 SF shopping center on 0.98 acres in Haverhill, FL, offering a 5.04% cap rate and $257,000 NOI.
  • Ten (10) tenants under NNN leases with rent increases and an average remaining lease term of 10 years.
  • Recent improvements include a new roof coating (10-year warranty), fresh paint, and resealed parking lot.
  • Includes a vacant lot for future expansion.
  • Fee-simple ownership, ideal for a 1031 exchange.

Property Details for 1069 Military Trl

Property type
Lifestyle centers, Power centers
Square Feet
10,000 SF
Class
B
Year Built/Renovated
1965/2014
Buildings
1
Stories
1
Lot Size (sq. ft)
42,689 SF
Units
10

Location Insight

City
Haverhill
County
Palm Beach
State
Florida
Latitude
26.6930465
Longitude
-80.1120184
1069 Military Trl, Haverhill, Florida

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1069 Military Trl
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