2240 Palm Beach Lakes Blvd - Office FOR SALE


West Palm Beach, FL 33409- Palm Beach Lakes South
$6,500,000 USD
561-632-5634
2240 Palm Beach Lakes Blvd, West Palm Beach, FL for Sale
$6,500,000 USD
Office - FOR SALE
1/49
null | 6% Cap Rate

2240 Palm Beach Lakes Blvd
West Palm Beach, FL 33409
Palm Beach Lakes South


HIGHLIGHTS

  • Centrally located in the heart of West Palm Beach close to the airport, I-95, the turnpike and Palm Beach island.
  • 19 rentable doors. Some suites have been converted to executive office space generating higher per square foot rents.
  • The fourth floor has been used as one suite.

OVERVIEW

This property offers exceptional flexibility for both investors and owner-users. 50% of the building is currently occupied by the owner and the other 50% is home to existing tenants, all of whom can vacate within 30 days, creating a rare opportunity for a buyer to take full possession of the property if desired. A new owner may choose to: Occupy the entire building or maintain the current tenants while occupying the top two floors, allowing for owner use while still benefiting from ongoing rental income. The building is concrete construction, offering enhanced durability and resilience, making it a safe and secure option in the event of hurricanes and other natural disasters. The pro forma cap rate is based solely on current tenant rental income and does not include any rent attributed to the space currently occupied by the owner, presenting additional upside potential upon lease-up or repositioning. This property is well-suited for buyers seeking flexibility, stability, and long-term value with multiple occupancy.

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$288 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

ADD'L SUBTYPES

Loft/Creative Space, Medical

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1971

SPRINKLERS

-

PARKING SPACES

80

LAND DETAILS

LAND ACRES

0.87 AC

LAND SF

37,897 SF

ZONING

GC, West Palm Beach

APN/PARCEL ID

74-43-43-19-09-038-0060

ASK ABOUT THIS PROPERTY

Myles MinnsContinental Properties, Inc.More Info
561-632-5634

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Myles MinnsContinental Properties, Inc.More Info
561-632-5634

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