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$ 3,100,000
Est. payment | /mo
9,860 SqFt
$ 3,100,000
Est. payment | /mo
9,860 SqFt
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 9,860 sqft
Price per Sqft $314
MLS Listing ID A12090594
HOA Y/N No
Year Built 1974
Annual Tax Amount $26,603
Lot Size 0.600 Acres
Property Sub-Type Retail
Property Description
Rare owner-occupied retail investment opportunity in Lantana. 1212 & 414 W Lantana Road offer two freestanding retail buildings totaling 9,860 SF on 0.60 acres of C-1 zoned land, occupied since 1959 by ACE Hardware and ACE Rental Place. The frontage is the asset: W Lantana Road carries the trade area's east-west traffic, I-95 is minutes away, and the surrounding residential ring is among the stronger in central Palm Beach County. The improvements are dated and priced accordingly; the land, zoning and position are not. Nearby retailers include Costco, Publix, AutoZone, Wawa, Aldi and Chick-fil-A, with Downtown Lantana and Manalapan close by and the 700-unit Water Tower Commons development adding density to the trade area. The two parcels can be purchased together or repositioned individually. 1212 W Lantana Rd: 6,990 SF, 0.43 acre, built 1974, currently ACE Hardware. 414 W Lantana Rd: 2,870 SF, 0.17 acre, built 1966, currently ACE Rental Place. Zoning is C-1 on both parcels. Ownership is motivated and working to a defined closing deadline; a short-term seller leaseback is available. Combined asking price is $3,100,000, reflecting $304/SF building and $115/SF land (7.4% to 9.0% cap), in line with recent C-1 sales along the Lantana/Dixie Hwy corridor. Buyer to independently verify zoning, permitted uses, setbacks and parking with the Town of Lantana. Information deemed reliable but not guaranteed.
Location
State FL
County Palm Beach
Area 4170
Zoning C1 (city
Exterior
Private Pool Yes
Others
Tax ID 40434504040010050
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12090594
Listed by APEX Capital Realty LLC
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