4246 Okeechobee BlvdWest Palm Beach, FL 33409

Property Details for 4246 Okeechobee Blvd

Year built

1948

Construction

WOOD

Lot size

0.36 AC

Property size (Sq ft)

6,848 SF

Zone code

CG

Property type

Retail properties

Property subtype

Retail space

APN

00-42-43-25-00-000-1110

APU

424325000001110

Description

This renovated, free-standing industrial building, located at 4246 Okeechobee Boulevard, offers a unique investment opportunity. The 6,850 square foot property is currently configured as a bar and liquor store with a second-floor office. The zoning is GC. The property features a single tenant occupancy and is situated on a lot with an APN of 00424325000001110. The current owner will lease back the liquor store portion for a 20-year term with options, providing a stable income stream. The remaining approximately 6,000 square feet is available for lease or owner-occupancy, presenting flexibility for various business ventures. The building's prime location on Okeechobee Boulevard offers excellent visibility and accessibility. Note that any existing billboard is not included in the sale. This property presents a compelling blend of immediate income generation and future development potential. The property's single-tenant setup simplifies management, while the leaseback arrangement minimizes vacancy risk. The substantial remaining space allows for expansion or adaptation to suit a variety of business needs. This is an exceptional opportunity for investors seeking a blend of immediate return and long-term growth.

• CAP approach

  CAP return

  Valuation

  6%

  $2,334,152

  6.5%

  $2,154,602

  7%

  $2,000,702

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,800,541

  Geo Method

  $4,800,541

• Alternative Use

  Use

  Valuation

  Residential

  $1,817,487

  Hospitality

  $1,664,808

  Educational

  $1,385,101

  Medical

  $1,432,737

  Retail

  $2,154,602

Location Insight

City

West Palm Beach

County

Palm Beach

State

Florida

Latitude

26.7063

Longitude

-80.1068

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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