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2695 N Military Trl

West Palm Beach, FL 33409

$9,995,000

Storefront Retail Office For Sale  •  46,188 Sq Ft

Property Details

  • Property Type Storefront Retail Office
  • Total Building Size 46,188 Sq Ft
  • Lot Size 4.58 ac
  • Building Class B
  • Year Built 1985
  • Cap Rate 8.04 %
  • Tenancy Multiple
  • Zoning PCD-SE, County
29 Transit Score
62 Walk Score

Description

NNN Investment Advisors is pleased to present for sale this fully stabilized, 46,564 SF Neighborhood Shopping Center with a free standing, 2 story professional building out parcel.  The center is anchored by one of the highest performing Dollar General’s in Palm Beach County that recently exercised its 3rd 5-year option and includes a healthy mix of local and national tenants. The Plaza features outstanding visibility with 726 feet of frontage along Military Trail with direct exposure to ±47,364 vehicles per day passing by and 3 ingress/egress points.

Directly across from the Subject is Keiser University’s Flagship Campus with over 20,000 students and 3,800 employees, currently undergoing development for a new football stadium.  The Subject is located in a dense retail area surrounded by numerous national credit retailers such as Publix, Bealls, Lowe’s, O’Reilly Auto Parts, Advanced Auto, Burger King, Chase, Bank of America, Circle K, CVS and is just south of the newly built Professional Spring Training Ballpark of the Palm Beaches, a 160 Acre, 7,500 seat Baseball Stadium, home for the Houston Astros and Washington Nationals, which drives additional traffic to retailers in the area. Centrally located between I-95 and the Florida Turnpike, Dollar General Plaza has enjoyed historically high occupancy levels benefiting from from a 4% sub-market vacancy rate, one of the lowest retail vacancy rates in the nation.

The 1-, 3-, and 5-mile populations are 14,976, 96,567 and 245,175, respectively with an average home value of $213,598. The surrounding population is expected to increase by 7.22% by 2023 as new residents migrate to this attractive south Florida community.

Property Flyers

Financial Summary

Cap Rate: 8.04 %

Major Tenants

Tenant SF Occupied Lease End Date
A Caring Medical Supply Ctr 1,250 SF
Arcade 2,550 SF
Barber Shop 825 SF
Beauty Supply 3,630 SF
Cell Phone Store 825 SF
Dollar General 7,925 SF
Hair Salon 825 SF
Income Tax Office 1,275 SF
Massage Therapy 1,650 SF
Nail Salon 1,275 SF
Nursing School 2,550 SF
Papa John's 1,650 SF
Restaurant - Take out 825 SF

Amenities

  • Air Conditioning
  • Bus Line
  • Pylon Sign
  • Signage
  • Signalized Intersection

Public Transportation

Commuter RailDriveWalkDistance
West Palm Beach Commuter Rail (Tri-County Commuter) 12 min - 4.5 mi
Mangonia Park Commuter Rail (Tri-County Commuter) 15 min - 6.2 mi
AirportDriveWalkDistance
Palm Beach International Airport 9 min - 3.3 mi

Parking Details

Parking Available: No
Reserved: No
Type: Covered
Included in Rent: Yes
Lorrie Garbarz 248-943-3331 NNN Investment Advisors
Lorrie Garbarz 248-943-3331 NNN Investment Advisors