808 Coast Ave Lantana, FL 33462

Exceptional investment opportunity in Lantana, Florida, featuring a 5,040 square foot retail property situated on 808 E Coast Avenue. This property consists of two buildings totaling eight units, built in 1977, and zoned for general commercial use. Currently boasting 100% occupancy with five tenants, the property offers a diverse range of lease arrangements, including gross leases. The asking price is $1,700,000, translating to $337.30 per square foot. The property includes 24 parking spaces. The existing tenants occupy seven commercial suites, each with a half-bathroom. Two suites measure 500 square feet each, with current leases of $760 and $800 per month respectively (two additional 500 sq ft suites have no leases in place). A renovated 1,000 square foot, two-bedroom, two-bathroom apartment is currently leased month-to-month for $1,750. The single-story building comprises three 600 square foot bays (leased for $3,000/month with a 1-3 month leaseback), one 720 square foot bay (leased for $1,000/month with a 1-3 month leaseback), and one 480 square foot bay (with no lease in place). The owner currently occupies four suites, generating $4,000 per month in rent. The seller is open to a contract for deed with 35% down, 10% interest, and a 3-year term. The property's excellent location along the railroad and US 1 provides great signage opportunities. The zoning allows for various uses, including conversion to a motel, residential units, or continued operation as retail space.