5849 Okeechobee BlvdWest Palm Beach, FL 33417

Property Details for 5849 Okeechobee Blvd

Year built

1981

Construction

CONCRETE

Lot size

2.39 AC

Property size (Sq ft)

23,060 SF

Zone code

CG

Property type

Office properties

Property subtype

Office buildings

APN

00-42-43-23-00-000-7040

APU

424323000007040

Description

This exceptional 20,336 square foot, three-story office building, constructed in 1986, is situated on Okeechobee Boulevard in West Palm Beach, Florida, offering unparalleled visibility and accessibility. The property boasts a prominent ground floor space, formerly occupied by a Wells Fargo branch, complete with a drive-thru and ATM. This versatile space is ideal for a variety of uses and is ready for immediate customization. The building features 110 parking spaces and benefits from multiple pylon signage opportunities, ensuring maximum brand exposure. Its strategic location provides direct access to the Florida Turnpike and is conveniently close to I-95, Palm Beach International Airport, and major medical and business centers. The surrounding area offers a wealth of amenities, including hotels, restaurants (such as Chick-fil-A, Duffy's, and LongHorn Steakhouse), and retailers (including Publix, Walmart Neighborhood Market, and SuperTarget). With a daytime population exceeding 258,000 within a five-mile radius and over 168,800 vehicles passing daily, this property presents a unique opportunity to establish a thriving business in a high-traffic, high-visibility location. The estimated 2024 operating expenses are $15.50 per square foot, inclusive of electricity. This property is located in Palm Beach County, Florida, with a zip code of 33417.

• CAP approach

  CAP return

  Valuation

  6%

  $7,089,291

  6.5%

  $6,543,961

  7%

  $6,076,535

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,414,831

  Geo Method

  $6,414,831

• Alternative Use

  Use

  Valuation

  Residential

  $8,114,512

  Hospitality

  $7,432,849

  Educational

  $6,184,043

  Medical

  $6,396,722

  Retail

  $9,619,623

Location Insight

City

West Palm Beach

County

Palm Beach

State

Florida

Latitude

26.7079

Longitude

-80.1329

CBSA code

33100

CBSA name

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

Property Tax & Assessments

FAQs

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].