Highly coveted Delray Beach retail pad site location with over 200 linear feet of direct frontage on South Federal Highway. This double net leased property features 7,452 SF of building improvements, on a 22,460 SF lot that is a pad site to a Walmart Neighborhood Market plaza, that includes over 20 retail units plus a Planet Fitness. This site’s strategic location enjoys high visibility, with an AADT of over 27,500 vehicles passing each day.
Owner is only responsible for roof, structure, and parking lot. Advanced Auto Parts has been leasing this property since 2011 and exercised its first option to renew for 5 years in 2021. Advanced has two remaining lease renewal options of five years each. There are rent escalations in place to increase rent by 10% every 5 years.