SQUARE FEET4,146
MLS#B26045046
STATUSActive Under Contract
PROPERTY TYPECommercial - Business
Property Description
Excellent value-add investment opportunity in Riviera Beach! This 4,146 SF neighborhood retail center consists of five approximately 860 SF units on a 0.31-acre parcel with DG zoning. Currently 80% occupied with four established tenants and one vacant unit, offering immediate upside through lease-up. Existing tenants are on Modified Gross leases with 5% annual rent increases and reimbursement provisions for utilities and operating expense increases. The property has recently undergone exterior improvements, including a fresh building repaint and newly re-striped parking lot, enhancing curb appeal and reducing near-term capital needs. Current gross income exceeds $64,000 annually with the potential to increase significantly by leasing the remaining vacancy. Long-term leases provide stable.. Long-term leases provide stable cash flow while contractual rent escalations drive future NOI growth. Conveniently located near major thoroughfares, residential neighborhoods, and ongoing redevelopment throughout Riviera Beach. Ideal opportunity for investors seeking in-place income with clear value-add potential.
Property Features
Property Type: Commercial - Business
Cooling: Central Air, Ceiling Fan(s)
Heating: Central
Home Style: Church, Rental
Lot Size: 0.31 Acres
Roof Type: Built-Up, Flat
Stories: 1.0
Taxes: $7,510
Year Built: 1966
Feature Descriptions
Days on Site: 21
Exterior: CBS, Concrete Block - With Stucco
Flooring: Ceramic Tile, Laminate
Lot: Corner Lot, Sidewalks
Lot: Corner Lot, Sidewalks
Parcel#: 56434233040060130
Parking: Free, Shared
Parking Notes: Free, Shared
Security: Fire Alarm, Smoke Detector(s), Security Lights
Sewer: Public Sewer
Structure Type: Retail
Units: 5
Utilities: Cable Available, Electricity Available, Sewer Available, Water Available
Utilities: Cable Available, Electricity Available, Sewer Available, Water Available
Water: Public
Listed By / Shown By
Listed By
Agency Name: Keller Williams Realty/P B
Agency Phone: 561-656-2929
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0040
1620 Avenue E | MLS# B26045046
This commercial property located at 1620 Avenue E, West Palm Beach, FL 33422 is currently listed for sale with an asking price of $750,000. Search West Palm Beach real estate on www.realtymark.net today.