Westmoreland Plaza
$7,500,000
4320 NW Federal highway Jensen Beach, FL 34957
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About this listing
DESCRIPTION
Westmoreland Plaza is a 4-tenant retail center located in Jensen Beach, FL. La-Z-Boy is the anchor tenant while the subject property consists of two (2) separate buildings.
La-Z-Boy completed $750,000 in interior and exterior renovations to this location while extending its long-term lease showing its commitment to this store location. Dunkin Donuts has been operating at this location since 2005, just recently signing another 5-year option to extend while adding more options to extend its lease term.
North Fork Bait and Tackle has been operating at this location since 2014.
New seven (7) year lease signed with a Palm View Spine & Wellness, which is a Chiropractic and Wellness Center.
Due to the NNN lease structure and the long-term commitment from tenants like La-Z-Boy, this retail center offers a stable and predictable income stream, making it an attractive opportunity for investors seeking reliable cash flow.
HIGHLIGHTS
- La-Z-Boy invested $750,000 into this store location while extending its lease term 10-years in 2022!
- La-Z-Boy recording positive growth (4.3% year-on-year growth) per 2024 4th Quarter Revenue. This store is a top 50% store in sales according to Placer.
- Dunkin is a top 30% store in sales in Florida according to Placer.
- La-Z-Boy has been operating at this location since 2006. Dunkin has been operating at this location since 2005. North Fork Bait and Tackle has been operating at this location since 2014.
- Longterm tenants on NNN leases.
- New seven (7) year lease signed with a Palm View Spine & Wellness, which is a Chiropractic and Wellness Center.
LOCATION
Westmoreland Plaza is situated on NW Federal Highway which is a hot retail corridor in Jensen Beach. Surrounding national retailers include: Walmart, Sam's Club, Lowes Home Improvement, BJ's Wholesale, Aldi, Chick-fil-a, and many more.
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Cap Rate
7%
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NOI
$521,520
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Building Size
23,753 sqft
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Lot Area
2.99 acres
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Year Built
2005
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Zoning
General Commercial
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Floors
1
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Parking Spots
133
Details
- • Average Occupancy Rate: 100.0
- • Max Contiguous Area: 17400.0
- • Age: 11-20 Years Old
- • Lot Size: 2-5 Acres
