1901 BroadwayRiviera Beach, FL 33404

Property Details for 1901 Broadway

Year built

1962

Construction

CONCRETE

Lot size

0.36 AC

Property size (Sq ft)

8,606 SF

Zone code

DC

Property type

Strip malls

Property subtype

Neighborhood centers

APN

56-43-42-28-21-005-0181

APU

56434228210050181

Description

This exceptional investment opportunity presents a 13,439 square foot multi-tenant storefront located at 1901 Broadway, Riviera Beach, FL 33404. The property, built in 1962 and renovated in 1995, sits on a 0.7-acre lot at a signalized, hard corner intersection with high visibility and traffic counts averaging 40,600 vehicles per day. Currently operating at 42% occupancy with four tenants under a Net Lease (NN) structure, this property offers a compelling value-add or redevelopment opportunity. The strong underlying real estate boasts a pro-forma NOI of $227,108 and a pro-forma cap rate of 7.21%. Its strategic location offers easy access to Interstate 95 (210,000 VPD), placing it within reach of the West Palm Beach, Boca Raton, and Fort Lauderdale markets. The property is directly across the street from Safe Harbor Rybovich, a significant marina operation. The asking price is $3,150,000. This is a rare chance to acquire a well-positioned retail property with significant upside potential in a thriving area. The property's prime location and potential for increased occupancy make it an attractive investment for discerning buyers seeking strong returns.

• CAP approach

  CAP return

  Valuation

  6%

  $4,026,526

  6.5%

  $3,716,793

  7%

  $3,451,308

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,032,923

  Geo Method

  $6,032,923

• Alternative Use

  Use

  Valuation

  Residential

  $3,135,254

  Hospitality

  $2,871,876

  Educational

  $2,389,367

  Medical

  $2,471,541

  Retail

  $3,716,793

Location Insight

City

Riviera Beach

County

Palm Beach

State

Florida

Latitude

26.7785

Longitude

-80.0552

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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