executive summary former hhgregg boca raton...former hhgregg boca raton 20841 s. state road 7, boca...
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EXECUTIVE SUMMARY
FORMER hhgregg BOCA RATON
20841 S. State Road 7, Boca Raton, FL 33428
OFFERING PRICE
Price: $11,740,000
Down Payment: 42%/$4,940,000
Price SF: $283.50
Gross Building Area: 41,410 SF
Pro Forma Cap Rate: 7.05%*/$828,200
Pro Forma Cash Flow After Debt Service: 7.62%**/$376,900
Lot Size: 3.40 Acres
Price/Acre: $3,452,941
Type of Ownership: Fee Simple
FORMER hhgregg BOCA RATON20841 S. State Road 7, Boca Raton, FL 33428
*Pro Forma Cap Rate is based on analysis projecting a rental rate of $20 per square foot triple net (NNN). **Property has debt to be assumed.
Actual Property Photo
EXCLUSIVE LISTINGTiktin Real Estate Investment Services is pleased to present a unique opportunity to own a “Trophy Asset”, Class A, retail building in Boca Raton, FL at the intersection of State Rd. 7 (441) and Glades Rd.
The subject property is a vacant hhgregg big box, that sites on a 3.40 acre parcel zoned MUPD. This includes the Northern end-cap to a 100,000 SF, three tenant, power center with a Petsmart and Burlington which are not included in this offering. The property consists of a total of 41,410 SF of retail space, 2 loading docks and 1 loading ramp. Ingress/Egress on the site is achieved by a right in right out traffic flow heading south on State Rd. 7 (441) on the east side of the property as well as full-access ingress/egress on the north side of the parcel directly onto Glades Rd.
The subject property is located on the SW Corner of the intersection of State Road 7 (441) and Glades Rd. This intersection is one of the most heavily trafficked thoroughfares in this area of Boca Raton. Boca Raton is one of Southeast Florida’s most affluent communities. The area immediately surrounding the property is also considered to be among the most highly desirable, high-income trade areas in Boca Raton. This intersection of 441 and Glades Rd. is where you will find many big box retailers, chain restaurants and entertainment facilities, which serve the population of this vibrant section of Boca Raton.
This dynamic intersection is dominated by power centers on every corner. The Big Box Retailers at this intersection include two major national grocery stores, Fresh Market and Publix, as well as other national retailers - Dick’s Sporting Goods, LA Fitness, Home Depot, Best Buy, Bed Bath and Beyond, Petco, Regal Cinemas and more.
EXECUTIVE SUMMARY
TIKTIN REAL ESTATE INVESTMENT SERVICESTel: (305) 363-4750 Tel: (844) 4- TIKTINFax: (305) 675-0774 TiktinRealEstate.com
Cliff D. WeisnerSenior [email protected]
Adam J. [email protected]
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify for any inaccuracies.
FORMER HHGREGG BOCA RATON20841 S. State Road 7, Boca Raton, FL 33428
Investment Highlights ■■ Former hhgregg Retail Building■■ 41,410 SF GLA with 205’ of frontage - Can be
Sub-Divided■■ Average Household Income Exceeds
$100,000 Per Year Within 5 Mile Radius■■ Prominent Class A Retail Property Located in
Mission Bay/The Logger’s Run Area of West Boca Raton, FL
■■ Phenomenal Location on State Rd. 7 (441) and Glades Rd. where many top brand retailers occupy retail space
■■ North End Cap of 100,000 SF Power Center with Co-Tenants Burlington and PetSmart
■■ Traffic counts of 56,500 VPD on State Road 7 & 45,000 VPD on Glades Road