For Sale
$699,000

1813 Tamarind AveWest Palm Beach, FL 33407

High-yield opportunity zone property.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional mixed-use property at 1813 N Tamarind Avenue in West Palm Beach, Florida, presents a compelling investment opportunity. The 3,136 square foot building, constructed in 1963 and featuring two stories, is situated on a lot with dimensions not specified in the provided information. The property boasts a current occupancy rate of 33% and is zoned CP-NC. The property includes a convenience store currently operating under a triple net (NNN) lease with 8.5 years remaining (lease commencement May 15, 2023, expiration May 14, 2033). The lease includes rent bumps. Additionally, there is a vacant commercial space available for lease at $1500/month NNN and a 5-bedroom, 2-bathroom apartment upstairs currently leasing for $2200/month and approved for housing vouchers. The asking price for the entire property is $699,000, representing a 0.40% cap rate. This property is located in an opportunity zone, offering significant long-term investment potential, given the ongoing development and future plans for West Palm Beach. Further details are available upon request.

Highlights

  • Exceptional mixed-use investment opportunity in West Palm Beach, FL.
  • 3,136 sq ft, two-story building on a lot (dimensions unavailable).
  • 33% occupancy; CP-NC zoning.
  • NNN convenience store lease with 8.5 years remaining (May 15, 2023 - May 14, 2033), including rent bumps.
  • Vacant commercial space available for $1,500/month NNN; 5/2 apartment leasing for $2,200/month, housing voucher approved.
  • $699,000 asking price, 0.40% cap rate; located in an Opportunity Zone.

Property Details for 1813 Tamarind Ave

Property type
Mixed-use properties
Square Feet
3,136 SF
Year Built
1963
Stories
2
Units
3

Location Insight

City
West Palm Beach
County
Palm Beach
State
Florida
Latitude
26.7293937
Longitude
-80.0613947
1813 Tamarind Ave, West Palm Beach, Florida

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1813 Tamarind Ave
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