About This Home
This 0-bedroom, 0-bathroom commercial at 1620 Avenue E in West Palm Beach, FL is listed for $750,000 ($181 per sqft). Built in 1966, the home offers 4,146 sqft of living space on a 0.31 acres lot.
Key Features
- Built in 1966
- 0.31 acre lot
- 20 parking spaces
Property Details
Amenities
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.
Monthly Cost Estimate
$4,011/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1620 Avenue E
West Palm Beach, FL
Property Details
Flooring
Construction
Heating
Cooling
Questions & Answers
This 0-bedroom, 0-bathroom commercial at 1620 Avenue E is listed at $750,000 ($181/sqft). The estimated monthly payment is $4,011 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1966, 0.31 acre lot, 20 parking spaces.
This property is listed by Thomas Sinner and can be reached at 8623243094.