490 Palmetto Park RdBoca Raton, FL 33432

Property Details for 490 Palmetto Park Rd

Year built

1990

Construction

CONCRETE

Lot size

0.43 AC

Property size (Sq ft)

30,988 SF

Zone code

DDRI

Property type

Office buildings

APN

06-43-47-29-01-015-0011

APU

6434729010150011

Description

This exceptional Class A, three-story office building, located at 490 E Palmetto Park Rd in Boca Raton, FL 33432, offers 31,784 square feet of space. Currently, 13,350 square feet is vacant, with a maximum contiguous space of 9,670 square feet available on the third floor, featuring a large balcony with Intracoastal views. The building boasts 92 parking spaces, elevators, and is conveniently located near major roadways (Federal Highway, I-95, South Ocean Boulevard), Tri-Rail, and Brightline stations. Its proximity to Mizner Park, Royal Palm Place, The Boca Raton resort, and the beach enhances its appeal. Built in 1990, this property is zoned DDRI—DOWNTOWN DDRI (06-BOCA RATON) and offers a blend of traditional office, executive office, and coworking space options. Multiple tenancy is available, with smaller spaces ranging from 1,000 to 9,670 square feet. This landmark building provides unparalleled visibility and accessibility, making it an ideal location for businesses seeking a prestigious address in downtown Boca Raton. The property's location offers a unique blend of business convenience and lifestyle amenities, creating a desirable work environment. This is a rare opportunity to secure space in one of East Boca's most sought-after locations.

• CAP approach

  CAP return

  Valuation

  6%

  $10,660,900

  6.5%

  $9,840,870

  7%

  $9,137,950

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,987,190

  Geo Method

  $5,987,190

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $19,520,800

  Retail / Commercial

  $9,981,510

  Mixed-Use / Specialty

  $9,923,340

  Hospitality / Lodging

  $7,251,040

  Institutional / Educational

  $10,308,200

  Residential Income

  $12,060,600

  Multifamily

  $14,590,000

  Automotive / Energy

  $8,835,610

  Parking / Income-Based Land

  $3,071,370

  Restaurant / Food Service

  $5,113,010

  Healthcare / Senior Housing

  $10,199,400

Location Insight

City

Boca Raton

County

Palm Beach

State

Florida

Latitude

26.3503

Longitude

-80.0779

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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