754-354-9299
2000 Glades Rd, Boca Raton, FL for Sale
Office - FOR SALE
1/16
null | Request Cap Rate

2000 Glades Rd
Boca Raton, FL 33431
Downtown Boca Raton


HIGHLIGHTS

  • Institutional-Scale Office Asset: The property comprises 59,667 rentable square feet, offering scale that is rarely available in Boca Raton’s market.
  • Credit-Tenant Anchor: Anchored by Bank of America, the rent roll benefits from stable national credit tenancy.
  • Value-Add Lease-Up Opportunity: Current occupancy of 74.4% gives investors with the ability to drive NOI growth through vacancy absorption.
  • Expense Recovery Structure: Leases are primarily structured on a NNN basis, allowing for recovery of operating expenses.
  • Attractive Parking Ratio: The property features 245 surface parking spaces, equating to a favorable 4.1 spaces per 1,000 square feet.
  • Limited New Supply: Boca Raton benefits from restrictive zoning and limited land availability, supporting long-term occupancy and rent growth.

OVERVIEW

Marcus & Millichap's Institutional Property Advisors is pleased to present Bank of America Plaza, a 59,667-square-foot Class A office asset located at 2000 Glades Road in Boca Raton, Florida. Situated on a 4.7-acre site with prominent frontage along Glades Road, the property is positioned within a supply-constrained Boca Raton office submarket that continues to attract financial, professional, and corporate users. Anchored by Bank of America, the property is supported by a diversified roster of professional and corporate tenants. Bank of America Plaza is currently 74.4% occupied and generates an in-place net operating income (NOI) of $1,626,000, providing stable cash flow with the opportunity to increase income through the lease-up of existing vacancy. Pro forma NOI is projected to reach over $2.1 million by Year 3, reflecting contractual rent growth and absorption assumptions outlined in the financial projections. Bank of America Plaza benefits from its central location along one of Boca Raton’s primary commercial corridors, with convenient access to Interstate 95, Florida’s Turnpike, and Military Trail. 2000 Glades Road is located near Florida Atlantic University, Town Center at Boca Raton, and the Boca Raton Brightline Station, supporting long-term office demand within the submarket.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bank of America Plaza

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

A

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

252

LAND DETAILS

LAND ACRES

5 AC

LAND SF

217,800 SF

ZONING

R-B-1

APN/PARCEL ID

06-42-47-14-00-000-5070

ASK ABOUT THIS PROPERTY

Madison ChungMarcus & MillichapMore Info
754-354-9299

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Madison ChungMarcus & MillichapMore Info
754-354-9299

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.