12001 Southern BlvdLoxahatchee Groves, FL 33470

Property Details for 12001 Southern Blvd

Year built

2001

Construction

CONCRETE

Lot size

2.04 AC

Property size (Sq ft)

15,072 SF

Zone code

CG

Property type

Retail properties

Property subtype

Drug stores

APN

72-41-43-17-01-901-0070

APU

72414317019010070

Description

This fee-simple retail property, located at 12001 Southern Blvd, Loxahatchee Groves, FL 33470, offers a compelling investment opportunity. The 15,120 square foot building sits on a 2.03-acre lot and features 58 parking spaces. Currently occupied by a Walgreens pharmacy under a triple-net (NN) lease, the property boasts a strong financial profile. The lease, commencing June 1, 2001, and expiring May 31, 2031, has a remaining term of 6.5 years with eight 5-year renewal options. The asking price is $5,278,000, representing a price per square foot of $349.07 and a 6.50% cap rate. Built in 2001, this single-story building benefits from its location at a signalized intersection with over 80,000 cars passing daily. The property enjoys exceptional demographics, with over 125,000 people within a five-mile radius and an average household income exceeding $130,000. Its adjacency to the 94-acre Palms West Hospital campus further enhances its desirability. The Walgreens tenant is credit-rated, and the property offers significant upside potential due to the high sales volume and recent lease extension. The property is free of debt and requires minimal landlord responsibilities, limited to roof and structure maintenance. Florida's absence of state income tax adds to the investment's attractiveness.

• CAP approach

  CAP return

  Valuation

  6%

  $6,811,327

  6.5%

  $6,287,378

  7%

  $5,838,280

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,565,677

  Geo Method

  $10,565,677

• Alternative Use

  Use

  Valuation

  Residential

  $5,303,639

  Hospitality

  $4,858,105

  Educational

  $4,041,886

  Medical

  $4,180,893

  Retail

  $6,287,378

Location Insight

City

Loxahatchee

County

Palm Beach

State

Florida

Latitude

26.6825

Longitude

-80.2476

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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