Investment Highlights
- Multi-Tenant Retail, 100 Percent Occupied, Unique Property With Their Own Parking Lot – Other Buildings in the Area Only Have Street Parking
- Both Units Have Private Patio Space in the Rear of the Building
- Offers Ease of Management With Only Two Tenants
- The Entire Roof was Recently Resealed and New Stucco on the Exterior of the Building
- Unit 526 Could be Ideal for an Owner/User and Can be Delivered Vacant – Currently in Place With a Month-to-Month Lease and Paying Well Below Market Rent
- Population is Nearly 190,000 Within Five Miles, 310,000 in Seven Miles
- Less Than Two Miles from the Brightline Train Station Which Currently Runs Between Miami, Fort Lauderdale and West Palm Beach – Opening in Orlando This Year
- Two Miles from Downtown West Palm Beach, Clematis Street
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire 3,000+ square feet of multi-tenant retail space in West Palm Beach, FL. The Property consists of two tenants and is 100 percent occupied. This property is unique to the area as it has its own parking lot as well as street parking whereas other tenants/buildings in the area only have street parking.
With only two tenants in place, this listing offers ease of management. Both units have their own private patio space in the rear of the building. The entire roof was recently resealed and there is new stucco on the exterior of the building.
Unit 526 can be delivered vacant and is currently in place with a month-to-month lease. This unit could be ideal for an owner/user. In addition, the tenant in 526 is currently paying well below market rent.
This property is located at 526-528 Northwood Road in West Palm Beach. Off Palm Beach Lakes Boulevard with a daily traffic count of more than 37,500 vehicles, and in close proximity to Interstate 95, with 181,000 vehicles daily and connecting the area South to Miami and North to Jacksonville. The property is also within walking distance of the Brightline train station. The Brightline currently runs between Miami, Fort Lauderdale and West Palm Beach, with plans to open an Orlando station this year.
The Subject Property is two miles from Downtown West Palm Beach and Clematis Street, and one mile from Good Samaritan Medical Center, a 333-bed acute care hospital. Also, six miles from Palm Beach International Airport, one of the three main airports serving the greater Miami area. Directly across the bridge is Florida’s easternmost town, the Island of Palm Beach. Palm Beach is home to 11 billionaires with a collective net worth of $61.6 billion, making it the top city in Florida in terms of wealth.
