Property Description

Add-value opportunity. Owner currently manage & occupy 3,528sf of space & recently started marketing for lease and a few new tenants are expected to sign a lease. Owner would like to stay. The vacant space needs minimal build-out such as carpet, drywall, baseboards, paint and/or drop-ceiling tiles. 23,200sf building, 51% occupied, 65 parking spaces, masonry construction, great signage visibility, high-traffic area, commercial zoning, waterfront property with water views! Current gross income is roughly $170,000 @ ~51% occupancy. Proforma income with a 15% vacancy projection is $375,000+/year. Bldg owners occupied space is remodeled modern. Minimum average market rent is $18/$19 psf or higher depending on lease terms. Option to buy with office furniture in like-new condition.

Property Features
2018
: Public Water, Cable, Public Sewer, Electric
Realtor Association of the Palm Beaches (RAPB)
Matan Morag PA
Additional Information
: Central
: Lobby
: Other
: Carpet, Tile, Ceramic Tile

Commercial/industry

North Palm Beach, Florida 33408

$2,890,000
Listing ID #RX-10515967
Basic Details
Property Type : Commercial/industry
Listing Type : For Sale
Listing ID : RX-10515967
Price : $2,890,000
Baths - Total : 5.00
Living Sq Ft : 23,200 Sqft
Year Built : 1972
Country : US
State : FL
County : Palm Beach
City : North Palm Beach
Zipcode : 33408
Type : Office
Status : Active
Subdivision : Baypointe Office Building

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Contact Info

Engel & Völkers Wellington
10620 Forest Hill Blvd., Suite 40
Wellington, Florida 33414

+1 (561) 906-7007

Dr.TravisLaas@gmail.com

All listings featuring the RPBGFL  MLS logo are provided by the Realtors of the Palm Beaches and Greater Fort Lauderdale Inc. and BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright 2023 by Realtors of the Palm Beaches and Greater Fort Lauderdale Inc. and BeachesMLS, Inc.