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Catherine Brown Of Brown Capital LLLP Acquires Retail Property In Delray Beach For $6M

Property Image
SOLD
$6,000,000

Florida

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Retail1,904 SF
Sold 02/03/2025
the dealdetailscomps
Property Image
SOLD

Catherine Brown Of Brown Capital LLLP Acquires Retail Property In Delray Beach For $6M

4760 West Atlantic Avenue

See Similar Deals
Retail1,904 SF
Sold 02/03/2025
the dealdetailscomps

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$3,151
Total Square Footage:1,904 SF
Transaction Type:Sale

The property involved in this transaction is a freestanding bank located at 4760 West Atlantic Avenue in Delray Beach. It was acquired for $6 million, with a total square footage of 1,904 and a price per square foot of $3,151. The asset is situated on a 0.46-acre lot and is occupied by Regions Bank, which has a lease term extending through 2039, featuring 10% rent increases every five years. The cap rate for this transaction stands at 4.75%.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $6,000,000
  • Buyer: Catherine Brown - Brown Capital LLLP
  • Seller: Wagner Property Group
  • Square Footage: 1,904
  • Price Per Square Foot: $3,151
  • Lease Expiry: 2039
  • Cap Rate: 4.75%

Catherine Brown of Brown Capital LLLP is the buyer in this transaction, while Wagner Property Group serves as the seller. This deal marks the acquisition of a bank property built in 2024, underscoring a long-term commitment from Regions Bank as an anchor tenant.

Details

SOLD
IMAGE: Catherine Brown DATE: 02/03/2025 ADDRESS: 4760 West Atlantic Avenue MARKET: Delray Beach ASSET TYPE: Retail ~ ACRES: 0.46 BUYER: Catherine Brown - Brown Capital LLLP SELLER: Wagner Property Group SALE PRICE: $6,000,000 SF: 1,904 ~ PPSF: $3,151 NOTE: Brown Capital LLLP purchased a 1,904-square-foot freestanding bank property from Wagner Property Group for $6 million at a 4.75% cap rate. The Regions Bank-occupied site, built in 2024, has a 15-year lease through 2039 with 10% rent increases every five years.

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