Burlington Coat Factory | Trophy Boca Raton Location

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

Description

Marcus & Millichap is pleased to present for sale this net leased Burlington Coat Factory in Boca Raton, Florida. Burlington has approximately eight years remaining on the base term of the
lease with four, 5 year, options. Situated on a large 2.56 acre lot, this 42,602 square foot retail building is located on a major lighted intersection which sees over 85,000 cars daily. The local
market is quite affluent with average household income exceeding $113,000 in a five mile radius. Retailers sharing the intersection include, PetSmart, Publix, LA Fitness, Best Buy, Walgreens, Stein Mart, Bank of America, Chase Bank, McDonald’s, Panera Bread, IHOP, Regal Shadowood Movie Theaters, and many others.
This Burlington Coat Factory represents an easy to manage, single tenant asset. The tenant reimburses landlord for real estate taxes, insurance, and all common area maintenance fees except
roof and structure and management fees. This property and the two attached neighbors are managed by the same company, which handles all maintenance, repairs, and contract items. Each property pays their pro rata share of the overall expenses, which Burlington covers. The management company charges a small fee, of which this property is responsible for 39.17% (pro-rata share). This property’s share of the management fee for 2019 came to around $4,200, which is not reimbursed by the tenant.
Because the management and maintenance burdens are already handled by an experienced, professional party, this property has virtually zero management.

  • Rare Trophy Location Burlington Coat Factory in Boca Raton, Florida
  • Below Market Rents in a High Barrier To Entry Retail Market
  • Dense and Affluent Demographics: More than 207,000 people in the market area with average household income exceeding $113,000 Per Year
  • Professional Management Already in Place – Plug and Play
  • 21 Year Roof Warranty Runs until 2031
  • Florida is a No Income Tax State
  • Nearby retailers include Publix, Verizon, The Home Depot, Walgreens, Sprint, Target and many others

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  • City: Boca Raton
  • State/county: Florida
  • Zip/Postal Code: 33428
  • Country: United States

Detail

  • Price: $10,650,000
  • Year Built: 2005

Additional details

  • CAP RATE: 6.25%
  • NOI: $665,231

Features