Palm Gate Plaza

3951 North Haverhill Road, West Palm Beach, Florida

$11,723,076

Details

Price : $11,723,076
Cap Rate : 6.5%
Building Size : 56,965 Sq Ft
Year Built : 1987
Lease Type : NNN
Lease Expiration : Various
Renewal Options : Various
Rental Increases : Various
Status : Available
Property Type : Office

Investment Highlights

New upgraded LED lighting system
Outstanding visibility and sign recognition to busy North Haverhill Road with 30,300 vehicles per day passing the subject property.
Palm Gate Plaza is strategically located on North Haverhill Road, a heavily-trafficked corridor serving all of Palm Beach County. Residents, businesses and commuters utilize heavily traveled N. Haverhill Road.
Palm Gate Plaza has enjoyed historically high occupancy levels that are supported by a young, densely populated middle income residential demographic profile. The population within a three mile radius is 72,526 with an average household income of $48,885 and an average age of 42.0.
The Tenant mix at Palm Gate Plaza is comprised of strong national brands including Dollar General and United Pharamacy Insurance, along with a nice mixture of established local businesses. Additionally, the tenant mix is diversely represented by retail, food, services, professional offices and medical, providing stability to the income stream.

Description

This property consists of a two-story multi-tenant retail center with 29 retail bays and 13 offices.

A 53,200 square foot retail strip center Palm Gate Plaza offers an investor a highly visible, well-designed strip center, located on a major commercial artery, in an established and densely populated area of West Palm Beach. Palm Gate Plaza has historically maintained high occupancy levels with consistently strong demand for space in this very healthy retail submarket.

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