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Dollar General Plaza - Availability Details

2695 North Military Trail, West Palm Beach, FL 33417

  • For Sale $11,995,000
  • City West Palm Beach
  • Neighborhood Schall Circle
  • Zip Code 33417
  • Market West Palm Beach Boca Raton
  • Property Type Retail - Strip
  • Property Size 46,564 Sqft
  • Lot Size 4.78 Acre
  • Property Tenancy Multi-Tenant
  • Year Built 1986
  • Date Updated 28 May, 2021
Dollar General Plaza is situated on Military Trail between Okeechobee Rd. and Community Dr. in West Palm Beach, Palm Beach County with close proximity to I-95 and the Florida Turnpike. The property serves multiple dense residential communities including Palm Beach Lakes, Villages of Palm Beach Lakes and Westgate-Belvedere Homes, Bear Lakes Country Club, Bear Island, Palm Club, Vue, Winward At The Villages, Portofino Place, Village Crossing, Waterside Luxury Townhomes, just to name a few. These can generally be described as planned residential communities with a mix of single-family homes, condominiums and apartments. Additionally, located just west of the property is Century Village, which features over 6,000 residences for active-adults. In addition to the residential communities, the immediate area includes dense retail and office along with golf courses, including the Jack Nicklaus designed Bear Lakes Country Club, which hosts the PGA Tour Qualifying School Finals. Dollar General Plaza’s trade area is well defined and is characterized as a dense, infill, middle-income community that should continue to provide a stable customer base for the property. The Subject is surrounded by over 96,000 residents in a 3-mile radius and over 226,000 in a 5-mile radius with an average home value of $153,622. The surrounding population is expected to increase by 7.22%, by 2023 as new residents migrate to this attractive south Florida community.
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Location

  • City West Palm Beach, FL
  • Neighborhood Schall Circle
  • Zip Code 33417
  • Market West Palm Beach Boca Raton

Contacts

broker

Lorrie Garbarz

NNN Investment Advisors

(561) 684-9116

Highlights

  • Attractive 7.54% CAP Rate with Significant Upside in Increasing Under Market Rents
  • National Tenant Anchor - Top performing Dollar General in the County recently exercised 3rd 5-year option
  • Below Market Rents - Ensure long term stability and future upside potential
  • Excellent visibility - 725 ft of frontage to over ±43,000 VPD with 3 access points and prominent pylon signage
  • Strategic Location - Located on Military Trail, a primary retail and commercial artery in Palm Beach County, just north of Okeechobee Blvd, one of the county’s busiest intersections with a combined traffic count of 77,154 VPD
  • Directly across from Keiser University’s Flagship campus with over 20,000 students and 3,800 employees
  • Two miles south of the newly built 160 Acre, 7,500 seat Spring Training Baseball Stadium, home to the Houston Astros and Washington Nationals
  • Ease of Management - Tenant mix comprised of a solid mixture of established businesses, many having long-term tenancy at the center
  • Diverse Tenant Mix - represented by retail, restaurant and professional services providing stability and internet resistance to the income stream
  • Over Half of Tenants are Tenured Having Been in Place for Years, Executing Term-Over-Term Renewals Demonstrating Strong Commitment & Dedication to the Property
  • Ideal Demographics for Tenant Roster - Historically high occupancy levels supported by a densely populated middle income demographic profile
  • Dense, Growing Trade Area -The 1-, 3-, and 5-mile populations are 14,976, 99,567 and 245,175, with projected growth of 7.22% through 2023 and household income of $56,150, respectively
  • Centrally located between I-95 and the Florida Turnpike
  • South Florida MSA - Infill location in the highly desirable South Florida MSA.
  • Extremely low 4% retail vacancy in West Palm Beach sub-market

Contact Listing Broker

broker

Lorrie Garbarz

NNN Investment Advisors

(561) 684-9116

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