For Sale
$5,100,000

1069 Military Trl Haverhill, FL 33409

10-Tenant Net Lease Retail Center, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
136
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

FAQs

What type of property is this?
Lifestyle center - 10-Tenant Net Lease Retail Center, High NOI
Where is the lifestyle center located?
The property is located at 1069 Military Trl Haverhill, FL.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: 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.
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1069 Military Trl
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