Burlington Coat Factory | Trophy Boca Raton Location

  • $10,650,000
20851 FL-7 Boca Raton, FL 33428 USA

Burlington Coat Factory | Trophy Boca Raton Location

20851 FL-7 Boca Raton, FL 33428 USA
  • $10,650,000

Overview

Property ID: 18535
  • Property Type
  • Retail Properties
  • 42602
  • sqft
  • 2005
  • Year Built

Description

Located in Boca Raton, Florida, this Burlington Coat Factory has around eight years remaining on the initial term of the net lease with four options of 5 years each. The property has a built-up area of 42,602 sq.ft and sits on a massive2.56-acre parcel of land. It is situated at the major lighted intersection and receives more than 85,000 vehicles every day. The local neighborhood is thriving, with an average annual household income of more than $113,000. Several national and local retailers are located at the intersection, including PetSmart, Publix, LA Fitness, Best Buy, Walgreens, Stein Mart, Bank of America, Chase Bank, McDonald’s, Panera Bread, IHOP, and Regal Shadowood Movie Theaters. This Burlington Coat Factory is a single-tenant asset with little-to-no landlord responsibilities. The tenant is responsible for paying real estate taxes, insurance fees, and all common area maintenance fees, leaving

roof and structure maintenance fees. This property, along with two attached neighbors, are managed by the same company, which handles all maintenance, repairs, and contract items. Each property is liable to pay its pro-rata share of the overall expenses, which is covered by Burlington. This property is responsible for 39.17% (pro-rata share) of the total fee charged by the management company. In 2019, this property paid a management fee of around $4,200, which was not reimbursed by the tenant.

This investment property is suitable for a 1031 exchange.

Property Details – 

  • Property Type – Retail Property
  • Property Status – Available
  • Location – 20851 FL-7 Boca Raton, FL 33428, USA
  • Year of Construction – 2005
  • Lease Type – Net Lease
  • Lease Expiration – 7 years 10 months
  • Property Size – 42602 sq.ft.

Details

Updated on April 14, 2020 at 12:41 pm
  • Price: $10,650,000
  • Property Size: 42602 sqft
  • Year Built: 2005
  • Property Type: Retail Properties
  • Property Status: Available
  • Cap Rate: 6.25%
  • Lease Expiration: 7 years 10 months
  • NOI: $665,231
  • Tenant: Single Tenant Net Lease
  • Address 20851 FL-7 Boca Raton, FL 33428 USA
  • City Boca Raton
  • State/county Florida
  • Zip/Postal Code 33428

Contact Information

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Ronnie Issenberg
  • Ronnie Issenberg

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