1720 Tiffany DrWest Palm Beach, FL 33407

Property Details for 1720 Tiffany Dr

Year built

1989

Construction

CONCRETE

Lot size

1.12 AC

Property size (Sq ft)

19,344 SF

Zone code

PCC

Property type

Office properties

Property subtype

Office buildings

APN

44-43-43-05-23-000-0100

APU

44434305230000100

Description

This exceptional 19,344-square-foot office building in West Palm Beach, Florida, presents a compelling investment opportunity for both owner-users and value-add investors. Located at 1720 E Tiffany Drive, this two-story building boasts a prime location, just blocks from I-95, between Congress Avenue and Australian Avenue, and conveniently close to JFK Medical Center and St. Mary's Medical Center. Built in 1989 and extensively renovated in 2023, the property features a 100% occupancy rate with existing tenants, offering immediate income potential. The building's amenities include ample parking (3.6 spaces per 1,000 sq ft), well-maintained common areas, and office spaces with abundant natural light and direct elevator access. The 1.12-acre lot is zoned PCC. The asking price is $4,500,000, representing a compelling $232.63 per square foot and an attractive 8.55% cap rate. This fully occupied property offers the flexibility for an owner-user to occupy space currently leased, while also providing a strong foundation for value-add investors seeking to capitalize on the existing income stream and potentially increase rental revenue. The property's strategic location within West Palm Beach, a thriving market with a favorable business environment, provides access to a highly desirable demographic and excellent amenities. The building's proximity to major highways and airports further enhances its appeal. This is a rare opportunity to acquire a high-quality, well-maintained office building in a sought-after location.

• CAP approach

  CAP return

  Valuation

  6%

  $5,643,594

  6.5%

  $5,209,472

  7%

  $4,837,367

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,381,114

  Geo Method

  $5,381,114

• Alternative Use

  Use

  Valuation

  Residential

  $6,459,745

  Hospitality

  $5,917,092

  Educational

  $4,922,951

  Medical

  $5,092,259

  Retail

  $7,657,924

Location Insight

City

Mangonia Park

County

Palm Beach

State

Florida

Latitude

26.7546

Longitude

-80.0824

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].