FOR SALE
13,550 SF 100% Leased
Auto Service Project
7200 North Military Trail
Northern Palm Beach County, Florida
For Further Information Contact:
William B. Reichel, President
Reichel Realty & Investments, Inc.
8845 N. Military Trail, Suite 100
Palm Beach Gardens, FL 33410
(561) 478-4440, Fax (561) 478-4442
www.reichelrealty.com
Commercial Real Estate Expertise for Today’s Market
Note: Any information given herewith is obtained from sources considered reliable. However, we are not responsible for misstatement of facts, errors, omissions, prior to sale or change in price without notice.
1/5/2016
Property Information Sheet
Project: 7200 North Military Trail
Riviera Beach, Florida
Description: 13,550 sf Commercial Industrial Building located on the east side of Military Trail just south of Blue Heron Blvd in Riviera Beach, Florida. The project is 100% leased to two tenants one is a Maaco Franchisee that has 7800 sf and the other Kemco Tire and Auto who has been at the project for 5 years and occupies 5,750 sf
Notes: The neighboring sister project was recently purchased by Pet Paradise, a 25 + unit chain of Pet Boarding facilities throughout Florida and North Carolina. Pet Paradise spent over $1,000,000 on their interior and exterior renovations and opened up in November of 2015.
Parking: 120 spaces with cross parking with building to south.
Construction: CBS – 18 ft clear – Twin “T” concrete roof.
Zoning: IL - Limited Industrial District – City of Riviera Beach
CN – Neighborhood Commercial District
Income & Expense: Current NOI $154,850 ±
Traffic Counts: 45,916 – 2015 daily peak
Note: Terrific frontage on Military Trail. Just east of The Beeline Turnpike interchange, 3 minutes to I-95 to the East and The Port of Palm Beach. Hospital located to the immediate west. The V.A. Hospital is located just one block to the north of site.
Asking Price: 6.5% cap $2,380,000 = $174 psf
Note: Each lease has fixed yearly increases from 3% to 4.5%
Contact: William B. Reichel, President
Reichel Realty & Investments, Inc.
8845 N. Military Trail, Suite 100
Palm Beach Gardens, FL 33410
(561) 478-4440, Fax (561) 478-4442
www.reichelrealty.com
Commercial Real Estate Expertise for Today’s Market
Note: William Reichel, sole shareholder and owner of Reichel Realty & Investments. Inc. is a Limited Partner in the ownership entity of 7200 N. Military Trail.
Note: Any information given herewith is obtained from sources considered reliable. However, we are not responsible for misstatement of facts, errors, omissions, prior to sale or change in price without notice.
7200 North Military Trail
Income & Expenses
Tenant / SF / Base Rent / CAM / Total Gross RentMaaco Auto Body / 7,800 / $7,150/month
$11 psf NNN / $3,250 month
Est. @ $5.00 psf / $124,800/year
Kemco Tire & Auto / 5,750 / $8,150/month
($17 psf) / Included / $97,800/year
Totals / 13,550 / $15,300/month / $3,250/month / $222,600/year
Expenses @ $5.00 psf / X 13,550 sf / <$67,750>
Net Operating Income / $154,850
Asking Price / 6.5% cap / $2,380,000
Commercial Real Estate Expertise for Today’s Market
Note: William Reichel, sole shareholder and owner of Reichel Realty & Investments. Inc. is a Limited Partner in the ownership entity of 7200 N. Military Trail.
Note: Any information given herewith is obtained from sources considered reliable. However, we are not responsible for misstatement of facts, errors, omissions, prior to sale or change in price without notice.
1/5/2016
1/5/2016