621 53Rd St Boca Raton, FL 33487

This Class A, seven-story office tower, One Park Place, offers 237,331 rentable square feet in Boca Raton's premier Park at Broken Sound community. Built in 1985 and renovated in 1990, the property boasts a 40% occupancy rate with significant upside potential. Located on 6.5 acres, it features 875 structured parking spaces (3.71/1,000 SF), a shaded courtyard, and unique wrap-around balconies. Its prime location on the I-95 corridor (270,000 vehicles per day) provides exceptional visibility and signage opportunities, potentially generating substantial additional revenue. The building's proximity to the Boca Raton Tri-Rail station ensures convenient access for employees and tenants throughout the Tri-County area. The existing leases offer an 18.5% mark-to-market opportunity, presenting a compelling value-add investment prospect. The upper two vacant floors present a unique chance to create a headquarters location with private elevator access, potential for extensive signage, and space for amenities like training rooms and a fitness center. This property represents a rare opportunity to acquire a significantly under-leased asset in a thriving market, allowing for substantial returns on investment. There is no ground lease on this property.