Description

Rare owner-occupied retail investment opportunity in Lantana. 1212 & 414 W Lantana Road offer two freestanding retail buildings totaling 9,860 SF on 0.60 acres of C-1 zoned land, occupied since 1959 by ACE Hardware and ACE Rental Place. The frontage is the asset: W Lantana Road carries the trade area's east-west traffic, I-95 is minutes away, and the surrounding residential ring is among the stronger in central Palm Beach County. The improvements are dated and priced accordingly; the land, zoning and position are not. Nearby retailers include Costco, Publix, AutoZone, Wawa, Aldi and Chick-fil-A, with Downtown Lantana and Manalapan close by and the 700-unit Water Tower Commons development adding density to the trade area. The two parcels can be purchased together or repositioned individually. 1212 W Lantana Rd: 6,990 SF, 0.43 acre, built 1974, currently ACE Hardware. 414 W Lantana Rd: 2,870 SF, 0.17 acre, built 1966, currently ACE Rental Place. Zoning is C-1 on both parcels. Ownership is motivated and working to a defined closing deadline; a short-term seller leaseback is available. Combined asking price is $3,100,000, reflecting $304/SF building and $115/SF land (7.4% to 9.0% cap), in line with recent C-1 sales along the Lantana/Dixie Hwy corridor. Buyer to independently verify zoning, permitted uses, setbacks and parking with the Town of Lantana. Information deemed reliable but not guaranteed.

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Property information

Property type

Commercial Sale

Sub-type

Retail

Year built

1974

Living area

9,860 Sq Ft

Lot size

26,136 Sq Ft

Annual taxes

$26,603

Price / Sq Ft

$314

Days on market

57

Parcel number

40434504040010050