Lemon Tree Plaza

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Lemon Tree Plaza

Address

1048 S. Military Trl
West Palm Beach, FL 33415
United States
(View Map)

Property Type: Retail
Listing Status: Active

Contact Info

Gary Broidis
Direct: 561-703-9298
Gary@atlanticcg.com

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Description

Lemon Tree Plaza offers a diverse group of tenants including a well-known Animal Hospital and Veterinary Office along with numerous restaurants, an insurance agency, an auto repair facility and other tenants serving the surrounding communities. Additionally, many of the current tenants have been in occupancy for over ten years providing a stable tenancy and cash flow at this property.

Due to a high number of tenants currently occupying their premises at below market rental rates, this property offering provides great upside potential to increase the rent roll and cash flow at the property. Additionally, almost 50% of the tenants do not have any options to renew further creating an opportunity for new ownership to negotiate new lease agreements at higher rental rates and more favorable terms over the next 12-18 months and beyond.

Location

Located at the southeast corner of Summit Blvd. and Military Trail in West Palm Beach at a signalized intersection. Summit Blvd. is a major east-west corridor serving the West Palm Beach market area as well as Military Trail being a major north-south artery. This location enjoys great visibility with traffic volume of 44,000 cars per day on Summit Blvd and over 22,500 cars per day on Military Trail. There are three large free-standing signs on the property that provide for 13 tenants on the Military Trail sign with additional pylon signs for the outparcel building on the corner, as well as another pylon sign on Summit Blvd. for the Latin Restaurant.

Additional Information Site Highlights Major Tenants
County: Palm Beach
GLA: 25,277 SF
Operating Expenses: $239,131
Occupancy: 93.81%
Year Built: 1960
Lot Size: 1.86 AC
Number of Tenants: 20

  • Prime Corner Location

  • Value Add Opportunity

  • Additional Income Potential

  • Diverse Tenants

Summit Animal Hospital

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