1620 Avenue E, West Palm Beach, FL 33404
$1,000,000
Property Type:
Commercial Lease
Baths:
5
Square Footage:
4,146
Status:
Active
Current Price:
$1,000,000
Last Modified:
11/12/2022
Description
Investment Property in the path of progress. The property has undergone extensive renovations, including Brand New Roof, Central HVAC, Interior Tile, exterior facade, Hurricane / Accordion Security Shutters and much more. Building consists of 5 units, all of which are leased to small churches. There is a waiting list to get into this property.
*** OWNER IS A BROKER AND IS WILLING TO CONTINUE DOING MANAGEMENT AND LEASING FOR NEW BUYER. NOI is $52,780
Full price offers only.... 6% CAP
More Information MLS# RX-10451867
Contract Information
Status: Active
Original List Price: 508000
Auction: No
List Price: $1,000,000
Current Price: $1,000,000
List Price/Bldg SqFt: 241.19
Listing Date: 2018-07-30
Comm/Non-Rep: 2%
Comm/Buyer Agent: 2%
Comm/Trans Brk: 2%
General Property Description
Type: Industrial
For Sale: Yes
For Lease: Yes
Lease Price SqFt: 15.33
Lease Year: 2018
Min Lease Months: 36
Property Desc: church
Subdivision: INLET GROVE IN PB 6 P 87 & PB 8 P 14
Year Built: 1966
Built Desc: Resale
SqFt - Living: 4146
SqFt Source: Tax Rolls
# of Stories: 1
Total Units: 5
Baths - Total: 5
Acres: 0.31
% Air Conditioned: 100
Waterfront: No
Location, Tax & Legal
Area: 5280
Geo Area: PB26
County: Palm Beach
Parcel ID: 56434233040060130
Street #: 1620
Street Name: Avenue E
State/Province: FL
Zip Code: 33404
Multiple Ofrs Acptd: Yes
Zoning: CG
Legal Desc: INLET GROVE LTS 13 & 14 BLK 6
Tax Year: 2020
Real Estate Taxes: 4443
Geo Lat: 26.776878
Geo Lon: -80.056372
Remarks & Misc
Directions: Retail Building on Avenue E, soon to be US Highway 1. Located 2 blocks South of the 8-story BB&T Bank building.and just West of the former Larry Smith Electronics Building.
Office/Member Info
DXORIGMLNO: RX-10451867
DXORIGMLSID: RML
Building Info
Interior Ceiling Hgt: 12
# of Tenants: 5
# of Bays: 5
Miles to Expressway: 3
Monetary Info
Net Oper Income: 43500
Source of Expenses: Books
Unit 1
Unit Desc: Shops
# of Units: 1
Half Baths: 1
Ann Rent: 13200
Rent Period: Month
Property Features
Use: Income; Professional Office; Retail
Type of Building: Commercial; Income; Office Space; Office/Retail; Retail; Shopping Center; Strip Store
Construction: Block; CBS; Concrete
Ceiling: Insulated; Sheet Rock
Location: Airport Access; Investment
Sale Includes: Building and Land
Avail Docs: Survey
Avail Info: Copies of Lease; Full Financials; Owner managed; Title/ Abstract
Miscellaneous 1: Landscaped; No Lawn Sprinkler
Miscellaneous 2: Private Restroom; Public Restroom; Rear Access; Traffic Light
Flooring: Tile
Cooling: Central Individual; Electric
Heating: Central Individual; Electric
Fire Protect: Smoke Detector
Special Info: City Jurisdiction
Tenant Pays: Common Area Maint.; Electric; Sewer; Water
Utilities: Cable; Electric; Municipal Water; Separate Meter; 1-100 Amp
Security: Security Light
Maintenance Fee Incl: Insurance-Bldg; Maintenance-Exterior; Management Fees; Other Tenant Pays; Real Estate Tax; Trash Removal
Roof: Built-Up
Terms Considered: Cash; Conventional
Lease: Annual; Gross Rent; 1-3 Years; 4-6 Years; 7-10 Years
Listing Office: H. Alan Welles Real Est, LLC
Last Updated: November - 12 - 2022
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