312 Clematis St - Loft/Creative Space FOR SALE


West Palm Beach, FL 33401- Downtown West Palm Beach
$14,950,000 USD
561-414-8567
312 Clematis St, West Palm Beach, FL for Sale
$14,950,000 USD
Loft/Creative Space - FOR SALE
1/41
null | Request Cap Rate

312 Clematis St
West Palm Beach, FL 33401
Downtown West Palm Beach


HIGHLIGHTS

  • Freestanding Office Building with 23,078 Rentable Square Feet.
  • Iconic Asset Fronting Iconic Clematis Street benefits from major annual events like Music Festivals, Palm Beach Boat Show,& weekly "Clematis By Night"
  • Rare opportunity for Owner/Users or Investors to acquire a high-value-add asset, capitalize on its potential through cosmetic enhancements
  • Built in 1925, Completely Renovated in 1998 with First-Class Finishes, Original Hardwood Floors, High Ceilings, and Penthouse Open-Air Terrace.
  • In the heart of thriving Downtown West Palm Beach CBD, coined "Wall Street South" fueled by an influx of financial institutions relocating from NYC.
  • Close Walking Proximity to Class "A" Multi-Family and Condo Units, Hotels and the High-Speed Brightline Train Connecting to FLL, Miami, Orlando.

OVERVIEW

Ideal Opportunity to Own a High Vacancy Asset and Take Advantage of Tremendous Upside in This Rising Tide Micro-Market or As A Prime Location For An Owner Occupier! Lee & Associates as exclusive Advisor is pleased to present The Anthony Building, an iconic trophy asset comprising of a 23,078 rentable square foot retail and office building located directly on Historic Clematis Street in the heart of Downtown West Palm Beach's thriving high-energy entertainment and business district. The five-story building features the first two floors converted to a prime, ground-floor retail suite fronting Clematis with 18-foot high ceilings and approximately 850 square feet of mezzanine space and currently housing the very popular tenant Fitness Hub. The top three floors consist of conventional and loft offices with original hardwood flooring and two floors that cover the entire footprint of the building and a penthouse floor that covers approximately 40% of the footprint on the south end of the building with a large rooftop patio accented by three sets of French doors. The buildings façade maintains its original historic and prominent design with three-story decorative columns and carved concrete architectural cornices, moldings and gold-leafed lettering that give the Property tremendous street presence in this trendy location. Currently 30% leased to one tenant, the property represents valuable upside to the well below market ground floor retail as well as the lease-up or utilization of the 3rd, 4th and 5th floors. Highly flexible office floors allow for multiple smaller tenants or single floor tenants. This is an ideal opportunity for a partial owner/user or investor looking to take advantage of the rising tide market and "Wall Street South" migration trends fueling unseen levels of new development in one of the Southeast's hottest cities.

FOR SALE DETAILS

PRICE

$14,950,000 USD

PRICE/SF

$591 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

The Anthony Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

B

YEAR BUILT

1925

SPRINKLERS

-

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

CCI

APN/PARCEL ID

74-43-43-21-01-012-0030

ASK ABOUT THIS PROPERTY

C. Todd EverettLee & AssociatesMore Info
561-414-8567

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C. Todd EverettLee & AssociatesMore Info
561-414-8567

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