4561 Atlantic AveDelray Beach, FL 33445

Property Details for 4561 Atlantic Ave

Year built

1973

Construction

WOOD

Lot size

0.45 AC

Property size (Sq ft)

2,400 SF

Zone code

GC

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

12-42-46-13-04-000-0051

APU

12424613040000051

Description

This exceptional 2,400 square foot retail property, located at 4561 W Atlantic Avenue in Delray Beach, Florida, presents a compelling investment opportunity. Built in 1973, this single-unit building sits on a lot with no specified square footage. The asking price is $2,350,000. The property boasts an enviable location on Atlantic Avenue, a high-traffic area, as evidenced by a readily available traffic study. This presents a significant advantage for any business seeking high visibility and customer reach. A key feature of this property is its significant development potential. According to the current owner, the existing structure allows for the addition of two more stories, opening up exciting possibilities for mixed-use development, combining commercial space with residential units. This expansion would significantly increase the property's value and rental income potential. The property's location in Palm Beach County, Florida, zip code 33445, offers easy access to major transportation routes and a thriving local economy. This is a rare chance to acquire a well-situated retail property with substantial upside potential in a desirable location. The property is zoned for commercial use and offers a unique opportunity for both immediate income generation and future expansion. Detailed information regarding the traffic study and development plans is available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $1,085,084

  6.5%

  $1,001,616

  7%

  $930,072

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,620,380

  Geo Method

  $1,620,380

• Alternative Use

  Use

  Valuation

  Residential

  $844,901

  Hospitality

  $773,924

  Educational

  $643,896

  Medical

  $666,041

  Retail

  $1,001,616

Location Insight

City

Delray Beach

County

Palm Beach

State

Florida

Latitude

26.4582

Longitude

-80.1151

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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