618 Us Highway 1 North Palm Beach, FL 33408

$2,995,000 23,200 sq. ft.

618 Us Highway 1

 
Year Built: 1972
Interior: 23,200 sq. ft. (approx.)
tax: $35,563 
MLS ID: RX-10515967
Huge add-value opportunity. Seller currently manages asset & occupy 3,528sf of space. Currently advertised for lease. Owner can stay but not required. 23,200sf bldg, 59% occupied, 65 parking spaces, masonry construction, great signage visibility, high-traffic area, commercial zoning, waterfront property with water views! Current gross income is roughly $197,784 @ ~59% occupancy. Proforma income @15% vacancy projection is $375,000+/year. Landlord space is remodeled modern. Min average market gross rent is roughly $19-$20+/SF for large spaces 3+ yr leases. Smaller spaces and/or shorter terms lease for more $. Vacant space needs minimal build-out; carpet, drywall, baseboards, paint, drop-ceiling tiles. Option to buy newer office furniture. Seller replaced cooling tower on roof. Improvements:


 
 
mes1448236800

Interior Features

Design Features
Carpet
Ceramic Tile
Tile
Heating & Cooling
Central
Other Features
Lobby

Exterior Features

Type of Property
Office
Other Features
Other

Property/Lot Details

Utilities
Cable
Electric
Public Sewer
Public Water
Listing Courtesy of:
Regency Realty Services
Matan Morag
This material is based upon information which we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete, and it should not be relied upon as such. This offering is subject to errors, omissions, changes including price or withdrawal without notice. EQUAL HOUSING OPPORTUNITY
 
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