701 Olive AveWest Palm Beach, FL 33401

Property Details for 701 Olive Ave

Year built

2008

Construction

CONCRETE BLOCKS

Lot size

1.00 AC

Property size (Sq ft)

1,122 SF

Property type

Office properties

Property subtype

Office buildings

APN

74-43-43-22-41-000-0010

APU

74434322410000010

Description

This exceptional 1,122 square foot Class A office condo is ideally situated in the heart of Downtown West Palm Beach at 701 S Olive Ave, within the Two City Plaza building. Located on the ground floor of a 21-story mixed-use building, this unit offers immediate occupancy and is perfect for a corporate satellite office or live/work arrangement. The space boasts a high-end office build-out, including a kitchen and a second-floor loft area complete with a bathroom and shower. High ceilings (22 feet) and abundant natural light create a bright and inviting atmosphere. Parking is convenient with one assigned garage space for the owner and two valet spaces for clients. The property is part of a multi-tenant building in a vibrant downtown location, offering easy walkability to numerous amenities. The monthly rent is $4,250 plus a 3% sales tax. This is a rare opportunity to secure a well-priced, highly desirable office space in a prime West Palm Beach location.

• CAP approach

  CAP return

  Valuation

  6%

  $260,160

  6.5%

  $240,148

  7%

  $222,994

• Comparable approach

  Method

  Valuation

  Relative Method

  $312,118

  Geo Method

  $312,118

• Alternative Use

  Use

  Valuation

  Residential

  $297,783

  Hospitality

  $272,768

  Educational

  $226,940

  Medical

  $234,745

  Retail

  $353,017

Location Insight

City

West Palm Beach

County

Palm Beach

State

Florida

Latitude

26.7066

Longitude

-80.0526

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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