561-302-2511
951 Broken Sound Pky, Boca Raton, FL for Sale
Office - FOR SALE
1/22
null | Request Cap Rate

951 Broken Sound Pky
Boca Raton, FL 33487
Downtown Boca Raton


HIGHLIGHTS

  • High Quality Multi-Purpose Asset: ±85,610 SF, single-story flex building meticulously maintained by institutional standards on ±8.74 acres.
  • Upside and Future Redevelopment Potential: Mark to market upside (in-place rents are 15-20% below market) and potential to develop multifamily.
  • ??????????????Stabilized Rent Roll + Strong Tenancy: Stabilized rent roll anchored by national tenants providing strong cash flows.
  • ??????????????Exceptional Accessibility: Prominent Broken Sound location with immediate I-95 access and surrounding amenities.

OVERVIEW

On behalf of ownership, the Colliers | South Florida Investment Services Team, as the exclusive agent, is pleased to present for sale the Paragon Business Center (the “Property”), a ±85,610 square foot flex building located at 951 NW Broken Sound Parkway in Boca Raton, FL. Built in 1986 and impeccably maintained, the Property sits on ±8.74 acres of land strategically located in the prestigious Park at Broken Sound. The single-story Property is maintained to institutional standards and features store front entrances with zero loss factor, covered parking, two loading bays, and individual and monument signage. The strategic location provides free shuttle service from the Tri-Rail, and is proximate to numerous shopping centers, hotels, restaurants, and other amenities. Currently 93.6% leased, the Property offers upside potential by bringing the current rent roll to market rates (in-place base rents are 15-20% below market) while providing robust in-place cash flows. The current rent roll features a strong tenant mix of national tenants including Toll Brothers, US Installation Group, and CSPI Technology Solutions (Modcomp) with a Weighted Average Lease Term (WALT) of over 5.5 years. Boca Raton’s recent establishment of procedures and regulations for the development of multifamily projects within the LIRP zoning districts (Commercial Industrial Multifamily Developments or “CIMD”) make this nearly nine-acre site an excellent candidate for future redevelopment. ???????Tenant and visitor convenience is supported by ample parking and immediate access to I-95, positioning Paragon Business Center as a highly accessible and attractive office destination in Boca Raton’s competitive market. The Property presents a unique opportunity for investors looking for robust cash flow with significant upside and a highly sought after location within the Park at Broken Sound.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Paragon Business Center

PROPERTY TYPE

Office

ADD'L SUBTYPES

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TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

225

LAND DETAILS

LAND ACRES

8.74 AC

LAND SF

380,714 SF

ZONING

LIRP

APN/PARCEL ID

06-42-47-01-06-018-0000

ASK ABOUT THIS PROPERTY

Mark RubinColliersMore Info
561-302-2511

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Mark RubinColliersMore Info
561-302-2511

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