For Sale
$1,700,000

808 Coast AveLantana, FL 33462

Prime Coast Ave location, 5 tenants, 100% occupied

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • Exceptional investment opportunity: 5,040 SF retail property in Lantana, FL, on E Coast Ave.
  • Eight-unit property (two buildings) with 100% occupancy and diverse lease arrangements.
  • Asking price: $1,700,000 ($337.30/SF); 24 parking spaces.
  • Seven commercial suites (each with a half-bath), one renovated apartment (2 bed/2 bath).
  • Seller financing available (contract for deed with 35% down, 10% interest, 3-year term).

Property Details for 808 Coast Ave

Property type
Retail properties
Square Feet
5,040 SF
Year Built
1977
Buildings
2
Units
8

Location Insight

City
Lantana
County
Palm Beach
State
Florida
Latitude
26.5778729
Longitude
-80.0538886
808 Coast Ave, Lantana, Florida

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808 Coast Ave
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