217 Atlantic AveDelray Beach, FL 33444

Property Details for 217 Atlantic Ave

Year built

2008

Construction

CONCRETE

Lot size

0.19 AC

Property size (Sq ft)

9,743 SF

Zone code

CBD

Property type

Other commercial real estate

APN

12-43-46-16-01-084-0102

APU

12434616010840102

Description

This exceptional three-story, 11,500-square-foot restaurant building is located at 217 E. Atlantic Avenue in the heart of Delray Beach's vibrant entertainment district. Built in 1939 and renovated in 2008, the property boasts two kitchens and eleven dedicated parking spaces. Currently vacant, it presents a unique opportunity for an owner-user or value-add investor. The building sits on a 7,500-square-foot lot and is zoned CBD, allowing for extended operating hours. Its prime location on Atlantic Avenue places it steps from other high-end hospitality establishments, including Johnny Browns, Lion Fish, and City Oyster. The asking price is $14,500,000, reflecting a price per square foot of $1,260.87 and a pro-forma cap rate of 7.19%. The pro-forma NOI is $1,150,000. Nearby development projects, such as Sunday Village and Atlantic Crossing, suggest significant future growth potential. The property's corner location offers exceptional visibility and accessibility, directly adjacent to the FEC Train Tracks in a highly trafficked pedestrian area. This is an irreplaceable opportunity to acquire a high-street restaurant property in one of Florida's most desirable locations. The fee-simple ownership offers complete control and flexibility. Seller financing may be available based on buyer qualifications.

• Alternative Use

  Use

  Valuation

  Residential

  $3,429,944

  Hospitality

  $3,141,810

  Educational

  $2,613,949

  Medical

  $2,703,847

  Retail

  $4,066,144

Location Insight

City

Delray Beach

County

Palm Beach

State

Florida

Latitude

26.4619

Longitude

-80.0705

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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