Cushman & Wakefield has arranged the sale of a 12,940-square-foot mixed-use property at 258 SE 6th Ave. in Delray Beach, FL for $3.875 million. Mike Ciadella, Scott O’Donnell and Dominic Montazemi represented the seller Delray SE 6th Development Partners LLC in the transaction which was acquired by CDS International Holdings Inc.
According to Ciadella: “The buyer appreciated that the property offered immediate upside via below market in-place rents and long term potential as a redevelopment site for residential or hotel use.” The .58 acre building offers visibility to 14,000 vehicles per day along South Federal Highway with approved zoning for such purposes two blocks south of Atlanta Avenue. It is currently fully occupied by retail tenants, medical offices and other businesses alike providing an ideal investment opportunity with great returns on investment potentials over time.
