The warehouse/office building consists of 1,820 square feet on a securely fenced 5,750 square foot lot. The
property is zoned Liberal I-1 Industrial Distribution by the City of West Palm Beach, which allows for most industrial
uses. The property is centrally located between North Australian Avenue and Florida State Road A1A, only 10 minutes from I-95. The tenant is currently month to month with no lease and is paying an under market rent. The property is grossing $15,900 per year, netting $13,589 per year. A new investor can re-tenant this property after closing to the conservative market rate of $13 a square foot net. The pro-forma NOI will provide an investor with a strong 6.57% capitalization rate at the full asking price of $325,000.
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Listing information last updated on April 10th, 2020 at 9:00am EDT.