1620 Avenue E, West Palm Beach, FL 33404

Status: Active







MLS#: RX-10451867

Type of Building: Commercial, Income, Office Space, Office/Retail, Retail, Shopping Center and Strip Store

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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 $52,780Full price offers only.... 6% CAP

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This listing is courtesy of H. Alan Welles Real Est, LLC. Real Estate and Luxury homes in Boca Raton, Delray Beach, Deerfield Beach, Juno Beach, 0 Lake Worth, Palm Beach Gardens, West Palm Beach and surrounding areas in Palm Beach County and South Florida. Property Listing Data contained within this site is the property of Brevard MLS and is provided for consumers looking to purchase real estate. Any other use is prohibited. We are not responsible for errors and omissions on this web site. All information contained herein should be deemed reliable but not guaranteed, all representations are approximate, and individual verification is recommended.

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  • Acres0.31 acres
  • Available DocumentsSurvey
  • Available InformationCopies of Lease, Full Financials, Owner managed, Photos and Title/ Abstract
  • Building Info: Interior Ceiling Height12ft
  • Building Info: Miles to Expressway3 miles
  • Building Info: Number of Bays5
  • Building Info: Number of Tenants5
  • Built DescriptionResale
  • CeilingInsulated and Sheet Rock
  • CityWest Palm Beach
  • ConstructionBlock, CBS and Concrete
  • CoolingCentral Individual and Electric
  • CountyPalm Beach
  • DirectionsRetail 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.
  • Fire ProtectionSmoke Detector
  • FlooringTile
  • For LeaseYes
  • For SaleYes
  • HeatingCentral Individual and Electric
  • Lease1-3 Years, 4-6 Years, 7-10 Years, Annual and Gross Rent
  • Lease Price SqFt$15.33 / sqft
  • Lease Year2,018
  • Legal DescriptionINLET GROVE LTS 13 & 14 BLK 6
  • List Price$1,000,000
  • List Price/SqFt$241.19 / sqft
  • Listing DateSaturday, September 17th, 2022
  • Listing IDRX-10451867
  • Listing Price$1,000,000
  • Listing StatusActive
  • LocationAirport Access, City and Investment
  • Maintenance Fee IncludedInsurance-Bldg, Maintenance-Exterior, Management Fees, Other Tenant Pays, Real Estate Tax and Trash Removal
  • Minimum Lease Months36
  • Miscellaneous 1Landscaped and No Lawn Sprinkler
  • Miscellaneous 2Private Restroom, Public Restroom, Rear Access and Traffic Light
  • Monetary Info: Net Operating Income$43,500
  • Monetary Info: Source of ExpensesBooks
  • Multiple Offers AcceptedYes
  • Number of Meters5
  • Number of Stories1
  • Number of Toilets5
  • Percent Air Conditioned100%
  • Property Descriptionchurch
  • Property TypeCommercial
  • Real Estate Taxes$4,443
  • RoofBuilt-Up
  • Sale IncludesBuilding and Land
  • SecuritySecurity Light
  • Special InformationCity Jurisdiction
  • SqFt SourceTax Rolls
  • State/ProvinceFL
  • StatusActive
  • Status Change DateSaturday, September 17th, 2022
  • Street NameAvenue E
  • SubdivisionInlet Grove In Pb 6 P 87 & Pb 8 P 14
  • Tax Year2020
  • Tenant PaysCommon Area Maint., Electric, Sewer and Water
  • Terms ConsideredCash and Conventional
  • Total Building SqFt4,146 sqft
  • Total Units in Building5
  • TypeIndustrial
  • Type of BuildingCommercial, Income, Office Space, Office/Retail, Retail, Shopping Center and Strip Store
  • Unit 1: Annual Rent$13,200
  • Unit 1: Half Baths1
  • Unit 1: Number of Units1
  • Unit 1: Rent PeriodMonth
  • Unit 1: Unit DescriptionShops
  • Utilities1-100 Amp, Cable, Electric, Municipal Water and Separate Meter
  • Virtual TourYes
  • WaterfrontNo
  • Year Built1966
  • Zip Code33404
  • ZoningCG