2223 Palm Beach Lakes Blvd West Palm Beach, FL 33409
High-yield retail/medical office, 9% cap rate potential.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 136
Highlights
- Pro-forma 9% cap rate (based on market rent from new tenants).
- Prime West Palm Beach location near major retailers (Red Lobster, PA BBQ, Twin Peaks, Walgreens, Chipotle) between I-95 and Okeechobee Boulevard.
- 27,266 SF building on a 1.75-acre lot, renovated in 2018 with a new roof (15-year transferable warranty).
- Two separate spaces (16,500 SF & 11,000 SF) with individual electric meters and seven HVAC systems; state-of-the-art fire protection and sprinkler system.
- Ample parking (front, rear, and service road), monument and building signage opportunities; currently houses a high-end gym (until August 2023) and a discount furniture store; $8,861,111 asking price, $797,500 current NOI.
Property Details for 2223 Palm Beach Lakes Blvd
- Property type
- Lifestyle centers, Power centers
- Square Feet
- 27,266 SF
- Class
- B
- Year Built/Renovated
- 2007/2018
- Buildings
- 1
- Stories
- 1
- Lot Size (sq. ft)
- 76,230 SF
- Units
- 2
Location Insight
- City
- West Palm Beach
- County
- Palm Beach
- State
- Florida
- Latitude
- 26.7113167
- Longitude
- -80.097444
Nearby Similar for Sale
FAQs
- What type of property is this?
- Lifestyle center - High-yield retail/medical office, 9% cap rate potential.
- Where is the lifestyle center located?
- The property is located at 2223 Palm Beach Lakes Blvd West Palm Beach, FL.
- What is the asking price?
- The asking price for this property is $8,861,111.
- What are key features of this property?
- This property features: Pro-forma 9% cap rate (based on market rent from new tenants).; Prime West Palm Beach location near major retailers (Red Lobster, PA BBQ, Twin Peaks, Walgreens, Chipotle) between I-95 and Okeechobee Boulevard.; 27,266 SF building on a 1.75-acre lot, renovated in 2018 with a new roof (15-year transferable warranty).
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