224 3Rd StLantana, FL 33462

Property Details for 224 3Rd St

Year built

2018

Construction

CONCRETE

Lot size

0.74 AC

Property size (Sq ft)

10,350 SF

Zone code

C1

Property type

Retail properties

Property subtype

Retail space

APN

40-43-45-03-11-021-0041

APU

40434503110210041

Description

This fee-simple, 10,344 square foot Dollar Tree in Lantana, Florida presents a compelling investment opportunity. The property, built in 2018, is situated on a 0.74-acre lot at 224 N 3rd St, 33462, boasting high visibility and convenient access to I-95 and US 1. Currently operating under a 10-year net lease (NN) with approximately 4.3 years remaining, the lease includes three five-year renewal options with rent bumps. The tenant, Dollar Tree Stores, Inc., is credit-rated and provides a corporate guarantee, ensuring a stable income stream. The property features 39 parking spaces and a 6.00% cap rate, generating a net operating income (NOI) of $137,058. This Class B retail building offers a strong return on investment in a thriving Palm Beach County location. The single-tenant occupancy is currently at 100%. This is a 1031 exchange eligible property. The property is a single-story building.

• CAP approach

  CAP return

  Valuation

  6%

  $4,697,972

  6.5%

  $4,336,589

  7%

  $4,026,832

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,987,890

  Geo Method

  $6,987,890

• Alternative Use

  Use

  Valuation

  Residential

  $3,658,075

  Hospitality

  $3,350,777

  Educational

  $2,787,807

  Medical

  $2,883,684

  Retail

  $4,336,589

Location Insight

City

Lantana

County

Palm Beach

State

Florida

Latitude

26.586

Longitude

-80.0527

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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