For Sale
$11,600,000

209 Military TrlWest Palm Beach, FL 33415

High-yield, 100% occupied retail complex

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a stabilized, mixed-use commercial portfolio comprising two adjacent buildings totaling 15,600 square feet in West Palm Beach, Florida. The property boasts a strong 14.31% cap rate and a substantial net operating income (NOI) of $1,660,390. Currently 100% occupied, the portfolio includes six units, offering a diverse tenant mix including a liquor store, psychic tarot reader, barbershop, upstairs apartment, and billboard advertising, along with a food truck operation. The buildings, constructed in 1971, feature a two-story design with 20-foot ceilings and have undergone recent upgrades, including new roofs and air conditioning systems. Ample parking is available with over 90 spaces. The property sits on a combined lot size of approximately 0.61 to 1 acre and is zoned for general commercial use. Detailed financial statements and surveys are available upon request. This is a rare opportunity to acquire a high-performing, well-located retail portfolio in a thriving Florida market. The property is offered at an asking price of $11,600,000. Individual tenant leases are available for review, with the liquor store operating under a formal lease agreement. Other tenants are on month-to-month agreements but have established long-term occupancy. The property includes two separate parcels: Parcel 1, a single-tenant building located at a separate address, and Parcel 2, a multi-tenant retail building at 209 S Military Trl, West Palm Beach, FL 33415. The property's strong cash flow and prime location make it an ideal investment for discerning buyers seeking a stable and high-return asset.

Highlights

  • Parcel 1: Single-tenant property at 4548 Purdy Lane, West Palm Beach, FL 33406.
  • 1971 construction with recent roof and A/C upgrades.
  • Parcel 2: Multi-tenant commercial retail property at 2298 S Military Trl, West Palm Beach, FL 33415.
  • Liquor store lease: $4,000/month; other tenants month-to-month, with potential for new leases.
  • Current monthly income from other tenants: Psychic Tarot Reader ($3,000), Barber Shop ($2,400), Upstairs Apartment ($1,800), Billboard ($835), and Food Truck ($700).
  • Parcel 1 generates $20,000/month in income.

Property Details for 209 Military Trl

Property type
Lifestyle centers, Power centers
Square Feet
15,600 SF
Class
B
Year Built
1971
Buildings
2
Stories
2
Units
6

Location Insight

City
West Palm Beach
County
Palm Beach
State
Florida
Latitude
26.6747969
Longitude
-80.1123292
209 Military Trl, West Palm Beach, Florida

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209 Military Trl
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