This exceptional 36,230 square foot retail center in Boca Raton, Florida, presents a compelling investment opportunity. Boasting 100% occupancy across ten tenants, the property features a diverse mix of restaurant, shopping center, and storefront spaces. Recently renovated in 2024, upgrades include landscaping, façade improvements, a new HVAC system, and elevator modernization. Multiple tenants have recently extended their leases, converting to triple-net (NNN) agreements, creating a value-add opportunity for the buyer to further enhance returns by converting remaining tenants to NNN leases. Strategically located on Glades Road, a major east-west artery with over 49,000 vehicles daily, the center benefits from its prime position at the intersection of Glades Road and the Florida Turnpike, experiencing a combined daily traffic count of approximately 160,000 vehicles. Its proximity to I-95 ramps (over 225,000 vehicles daily) further enhances its visibility and accessibility. The property sits on a 6.88-acre lot and was originally built in 1986. The strong demographics of the area, with over 100,000 residents within three miles and over 250,000 within five miles, boast an average annual household income of $138,223 within one mile, projected to reach $151,494 by 2028. The area is experiencing significant residential growth, with several new developments adding thousands of homes in close proximity. The asking price is $10,000,000, representing a price per square foot of $276.01 and a 6.58% cap rate, with a current Net Operating Income (NOI) of $658,008. An adjacent parcel offers a potential purchase option through Bank OZK.
Highlights
Purchase option available through Bank OZK.
36,000 SF multi-tenant retail building with recent renovations including landscaping, façade, HVAC, and elevator upgrades.
Multiple tenants recently extended leases to NNN; value-add opportunity exists.
High-traffic location on Glades Road, a major Boca Raton thoroughfare with over 49,000 vehicles daily.
Prime location at the intersection of Glades Road and the Florida Turnpike, a high-traffic intersection with approximately 160,000 vehicles daily.
Close proximity to I-95 ramps, with over 225,000 vehicles daily.
Property Details
for 7880 Glades Rd
Property type
Lifestyle centers, Power centers
Square Feet
36,230 SF
Year Built/Renovated
1986/2024
Lot Size (sq. ft)
299,693 SF
Location Insight
City
Boca Raton
County
Palm Beach
State
Florida
Latitude
26.366865056274
Longitude
-80.166863703786
7880 Glades Rd, Boca Raton, Florida
Nearby Similar for Sale
For Sale
$12,000,000
Boca Raton Retail Center
Prime Boca Raton location, redevelopment opportunity.
How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
Contacts
Alan Lipsky
Barry Wolfe
Visit Broker Website
Learn more
Useful Information
Request information
7880 Glades Rd, Boca Raton, Florida, 33434
Message sent successfully
Error
Email this Information
Message sent successfully
Error
Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
7880 Glades Rd
Sign Up
Already a member?
Just one more step, let’s verify your email
We have sent a verification link to
Please check your inbox to complete the process.
Just click on the link in that email to complete your Sign up.
If you don’t see it, you may need to check your spam folder.
Email verification link expired
It seems that the verification link has expired.
No worries! We can send you a new link to email
Log In
Don't have an account?
Reset your password
New to Paperhouses?
Paperhouses
Reset your password
Enter the email address associated with your account and we'll send you a link to reset your password.
Check your email
We've resent password reset instructions to if it is an email on file.
Thanks! If matches an email we have on file, then we've sent you an email containing further instructions for resetting your password.
If you haven't received an email in 5 minutes, check your spam, resend, or try a different email.