CENTRO PROFESIONAL

CENTRO PROFESIONAL
Royal Palm Professional
Center11440 Okeechobee Blvd

19,640 SF94% LeasedOffice BuildingRoyal Palm
Beach, FL$4,200,000 ($214/SF)6.33% Cap Rate

 

INVESTMENT
HIGHLIGHTS

• Excellent Exposure – Situated directly off Okeechobee
  Blvd., with an average of +/-44,000 vehicle per day

 * Highly Accessible +/- 1.5 mile from
State road 7 – +/-2-miles of Florida Turnpike & Approx 10 miles west of
Interstate 95+/- 27 Office spaces (including medical/retail), ranging from
+/-150 SF to +/-4000 SF

 CN – Zoning – Allows for a wide array of uses – please check
attached zoning document

 

EXECUTIVE
SUMMARY

The Subject Property is a Two-story, CBS
multi-tenant standalone office building containing 27 units (some combined) on
a
1.6725-acre parcel. The building was constructed in 1986 that consists of a
total of 19,274 SF of usable area with a small lobby on the first floor with an
elevator and stairwell to the second floor.
Unit sizes within the Building range from +/- 150 as the smallest space to a
max of +/- 4200 SF (combined space) for a single tenant. The second-floor units
have access off interior hallways.
The site has excellent visibility and accessibility with egress/ingress from
Okeechobee Blvd., and frontage of 242

 

Feet on the south side of Okeechobee Blvd.
HIGHLIGHTS
* Ideal for single/multiple-Tenants/owner
occupant-Investor.
* Excellent Exposure – Situated directly off
Okeechobee Blvd., with an average of +/-44,000 vehicle per day.
* Highly Accessible +/- 1.5 mile from State road
7, – +/-2-miles of Florida Turnpike & Approx 10 miles west of Interstate
95.
*Almost all tenants have been here multiple
years.
*Rental rates PSF are lower than market
providing an upside opportunity
*Most HVAC systems have been replaced between
2020 and 2021

 

PROPERTY FACTS

Sale Type

Investment

Sale Condition

1031 Exchange

Property Type

Office

Property Subtype

Medical

Building Size

19,640 SF

Building Class

C

Year Built

1987

Price

$4,200,000

Price Per SF

$214

Cap Rate

6.33%

NOI

$266,021

Percent Leased

94%

Tenancy

Multiple

Building Height
2 Stories

Typical Floor Size  9,820 SF

Building FAR 0.27

Land Acres 1.67 AC

Opportunity Zone

No

Zoning CN, Royal Palm Beach – See attached
Zoning Ordinances

Parking 120 Spaces (6.11 Spaces per 1,000 SF
Leased)

 

SPACE AVAILABILITY

• SPACE
• SIZE
• SPACE
  USE
• CONDITION
• AVAILABLE

+/- 1232 SF of Retail/Office/Medical space available for immediate
occupancy. Very flexible zoning which allows for a very wide range of business
from office, medical, retail, hair salon etc. Ample Parking Suite is on the
ground floor, road facing on Okeechobee Blvd, Royal Palm Beach. The site has
excellent visibility and accessibility with egress/ingress from Okeechobee
Blvd., and frontage of 242 Feet on the south side of Okeechobee Blvd.