980 N Military Trail

Properties for Sale

980 N Military Trail

Address

980-B N Military Trail
West Palm Beach, FL

(View Map)

Property Type: Retail
Price: $3,725,000
Listing Status: Active

Contact Info

Lindsey Morriss Meyers
Direct: 404-556-4960
Lindsey@atlanticcg.com

Flyer

Description

Freestanding fast food building with drive thru and freestanding two-story warehouse building for sale. Located on the SE corner of Belvedere Road and North Military Trail. The warehouse is 6,602 SF with two 10’ x 10’ overhead bay doors. The fast food building currently operating KFC is 2,306 SF and includes drive-tru and monument signs located on both Belvedere Road & Military Trail. Asking price of $3,725,000 based on in-place income of $156,787 annual NNN from KFC plus proforma income of an estimated $48,000 annual NNN income from the warehouse building. Total NNN income potential of $204,787 annually.  5.5% cap rate based on in-place and proforma income.  Investment provides for upside with potential increased rental rates from the 2nd building on the property.

Additional Information Site Highlights Units Available
Min. Divisible Space: 2,306 SF
Max. Contiguous Space: 6,606 SF
Year Built: 1967 & 1968
Lot Size: .8363 Acres
  • Parcel Control Number: 00-42-43-36-11-000-0011
  • 2,306 SF fast food building w/ drive thru
  • 6,606 SF two-story warehouse building
  • 30 parking spaces
  • SEC of Belvedere Rd & N Military Trail. Traffic lighted intersection
  • Property is at the entrance to Palm Beach International Airport on Belvedere Rd
  • Monument signs for KFC located on both Belvedere Road & Military Trail
  • 2,306 SF fast food building w/ drive thru
  • KFC
  • Built in 1967
  • $156,787 annual NNN rent
  •  
  • 6,606 SF two-story warehouse building
  • Currently used by existing Tenant for offices.  Will be vacant.
  • Consists of two 10’ x 10’ roll up bay doors for warehouse portion.  Office space in remaining portion of the building.  Fully air conditioned. 
  • Built in 1968
  • Estimated proforma rent for the building of $48,000 annual NNN rent ($7.25 PSF NNN)
  • Owner has a full set of approved plans and building permits for a renovation of the warehouse building.
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