2223 Palm Beach Lakes Boulevard, West Palm Beach, FL 33409
$8,805,380
Property Type:
Commercial Lease
Baths:
20
Square Footage:
27,266
Status:
Active
Current Price:
$8,805,380
Last Modified:
3/28/2024
Description
CURRENTLY 100% OCCUPIED HOWEVER, TENANTS BOTH HAVE DEFAULTS WHICH ALLOWS FOR MULTIPLE OPPORTUNITIES FOR OWNER-USER OR INVESTMENT. LANDLORD CAN RE-TENANT BUILDING TO QUICKLY INCREASE VALUE OF BUILDING UP TO $14,500,000 WITH A CREDIT TENANT AT MARKET RENT, BRING ONLY CASH OFFERS. 27, 500 total square feet, 16,500 SF is Leased to a Fitness Gym (Short term lease as there is a new tenant who replaced Rock Fitness and (11,000 SF) Leased to Furniture Direct(5+ locations in S. FL) The Retail property was completely renovated between 2017 - 2018 including a new roof.
MINIMUM OF 16,500 SF OF BLDG CAN BE DELIVERED VACANT
The subject property is located near the intersection of Palm Beach Lakes Blvd. and Village Blvd. Next to Red Lobster and PA BBQ across the street from Twin Peaks.
More Information MLS# RX-10451836
Contract Information
Status: Active
Original List Price: 6255357
Auction: No
List Price: $8,805,380
Current Price: $8,805,380
List Price/Bldg SqFt: 322.94
Listing Date: 2018-07-30
Comm/Non-Rep: 1%
Comm/Buyer Agent: 1%
Comm/Trans Brk: 1.0%
General Property Description
Type: Industrial
For Sale: Yes
For Lease: Yes
Lease Price SqFt: 21
Lease Year: 2018
Min Lease Months: 36
Property Desc: 5500 SF retail/ofc
Subdivision: PALM BEACH LAKES COMM NO 3 IN
Year Built: 2007
Built Desc: Resale
SqFt - Living: 27266
SqFt Source: Tax Rolls
# of Stories: 1
Total Units: 3
Baths - Total: 20
Acres: 1.75
% Air Conditioned: 100
Waterfront: No
Location, Tax & Legal
Area: 5410
Geo Area: PB23
Country: United States
County: Palm Beach
Parcel ID: 74434319110000030
Street #: 2223
Street Name: Palm Beach Lakes
Street Suffix: Boulevard
State/Province: FL
Zip Code: 33409
Multiple Ofrs Acptd: Yes
Zoning: Store , GC
Legal Desc: PALM BEACH COMMERCIAL PL 3 LTS 3 & 4
Tax Year: 2017
Real Estate Taxes: 50034
Geo Lat: 26.711242
Geo Lon: -80.097533
Remarks & Misc
Directions: The subject property is located near the intersection of Palm Beach Lakes Blvd. and Village Blvd. Next to Red Lobster and PA BBQ across the street from Twin Peaks. It is seconds away from I-95.
Office/Member Info
DXORIGMLNO: RX-10451836
DXORIGMLSID: RML
Building Info
# of Tenants: 3
Miles to Expressway: 1
Unit 1
Unit Desc: Shops
# of Units: 1
Half Baths: 11
Rent Period: Month
Unit 2
Unit Desc: Suites
# of Units: 1
Half Baths: 11
Rent Period: Month
Property Features
Use: Professional Office; Retail; Other
Type of Building: Commercial; Income; Medical; Office/Retail; Restaurant; Retail; Shopping Center; Special Purpose
Construction: Block; CBS; Concrete
Ceiling: Acoustic; Insulated; Suspended
Location: Airport Access; Anchor Center; Investment; Shopping Center
Sale Includes: Building and Land; Signs
Avail Docs: Enviro. Audit-PH1; Survey
Avail Info: Appraisal; Copies of Lease; Existing Survey; Full Financials
Miscellaneous 1: Landscaped
Miscellaneous 2: Meeting Room; Office; Private Restroom; Public Restroom; Rear Access; Restaurant; Separate Office Area; Showroom; Traffic Auto; Traffic Heavy
Flooring: Carpet; Marble; Wood Floor
Cooling: Central Individual; Electric
Heating: Central; Electric
Fire Protect: Smoke Alarm; Sprinkler
Special Info: City Jurisdiction; Title Insurance
Tenant Pays: Common Area Maint.; Electric; Sewer; Water
Utilities: Electric; Public Sewer; Public Water; Separate Meter; 201+ Amp; 220
Waterfront Details: Interior Canal; Canal Width 1 - 80
Security: Security Light
Maintenance Fee Incl: Insurance-Bldg; Lawn Care; Maintenance-Exterior; Real Estate Tax
Roof: Built-Up; Steel Joist; Other
Terms Considered: Cash; Conventional; Exchange
Lease: Gross Rent; Long Term; Option Available; 1-3 Years; 4-6 Years; 7-10 Years
Possession: At Closing; Subject to Lease
Listing Office: H. Alan Welles Real Est, LLC
Last Updated: March - 28 - 2024
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