3600 BroadwayWest Palm Beach, FL 33407

Property Details for 3600 Broadway

Year built

1930

Construction

WOOD

Lot size

0.29 AC

Property size (Sq ft)

6,448 SF

Zone code

BMUD - I

Property type

Office buildings

APN

74-43-43-09-05-028-0130

APU

74434309050280130

Description

This exceptional 6,448-square-foot office building, situated at 3600 Broadway in West Palm Beach, Florida, presents a unique investment opportunity. Originally constructed in 1930 as a hotel, this two-story building has been thoughtfully converted into a thriving office complex. The property boasts 15 individual units, including twelve 150-square-foot offices, one 300-square-foot office, and a manager's office (approximately 150 square feet) all located on the first floor (5,286 square feet). Amenities include a convenient lunchroom equipped with a refrigerator and microwave, a conference room, and a reception area. The second floor, encompassing 1,162 square feet, currently serves as a single recreation area and includes a bathroom. The building benefits from 18 off-street parking spaces and a gated courtyard, enhancing security and convenience. Significant recent improvements include a roof replacement (approximately 5 years old) and multiple air conditioning systems (3-5 years old), comprising both central air and split units. Located within the Broadway Opportunity Zone and zoned BMUD 1 Broadway mixed use, this property offers considerable potential for future development and growth. The asking price is $1,200,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,881,198

  6.5%

  $1,736,491

  7%

  $1,612,456

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,793,705

  Geo Method

  $1,793,705

• Alternative Use

  Use

  Valuation

  Residential

  $2,153,248

  Hospitality

  $1,972,364

  Educational

  $1,640,984

  Medical

  $1,697,420

  Retail

  $2,552,641

Location Insight

City

West Palm Beach

County

Palm Beach

State

Florida

Latitude

26.7452

Longitude

-80.0563

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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