$750,000Active

1620 Avenue E, West Palm Beach, FL

West Palm Beach, FL

Sq Ft

1966

Year Built

0.31 acres

Lot Size

Listing Snapshot

List Price	$750,000
Beds	0
Baths	0
Living Area	0 sqft
Lot Size	0.31 acres

Year Built	1966
Property Tax	$7,510.9/yr
MLS #	1175990387
Status	Active

About This Home

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.

General Features

Property Type: CommercialSale
Sub-type: Retail
Stories: 1
Parking Spaces: 20
Parking: Common,FreeParking
Foundation: Slab
Zoning: CG (city)
Security: FireAlarm,SmokeDetectors,SecurityLights
Utilities: CableAvailable,ElectricityAvailable,SewerAvailable,WaterAvailable