7800 Glades RdBoca Raton, FL 33434

Property Details for 7800 Glades Rd

Year built

1987

Construction

CONCRETE

Lot size

7.02 AC

Property size (Sq ft)

33,168 SF

Zone code

CG

Property type

Retail properties

Property subtype

Retail space

APN

00-42-47-16-00-000-7060

APU

424716000007060

Description

This exceptional investment opportunity presents a 5,000 square foot Bank OZK branch located at 7800 Glades Rd, Boca Raton, FL 33434. The property sits on a 1.29-acre lot and boasts a prime location at the intersection of Glades Road and Florida's Turnpike, experiencing high daily traffic volume exceeding 160,000 vehicles. The building, constructed in 1988 and extensively renovated in 2024, features a new roof and significant architectural upgrades. A new 10-year net lease (NNN) with Bank OZK commenced May 22, 2024, and expires May 21, 2034, offering a remaining term of 9.5 years. The lease includes rent bumps of 12% in year six and 10% every five years thereafter. The property generates a Net Operating Income (NOI) of $310,000, resulting in a 5.30% cap rate. The tenant, Bank OZK, is backed by a corporate guarantee, ensuring financial stability. This single-tenant property enjoys 100% occupancy. The surrounding area is characterized by high-income demographics, with an average annual household income exceeding $138,223 within one mile, projected to reach $151,494 by 2028. The area is densely populated, with over 100,000 residents within three miles and over 250,000 within five miles. Numerous national retailers and upscale residential communities are in close proximity, further enhancing the property's value and desirability. The asking price is $5,849,000. This is a truly exceptional opportunity to acquire a high-performing asset in a trophy location.

• CAP approach

  CAP return

  Valuation

  6%

  $11,673,768

  6.5%

  $10,775,786

  7%

  $10,006,087

• Comparable approach

  Method

  Valuation

  Relative Method

  $16,149,141

  Geo Method

  $16,149,141

• Alternative Use

  Use

  Valuation

  Residential

  $9,089,778

  Hospitality

  $8,326,188

  Educational

  $6,927,291

  Medical

  $7,165,531

  Retail

  $10,775,786

Location Insight

City

Boca Raton

County

Palm Beach

State

Florida

Latitude

26.3672

Longitude

-80.1669

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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