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    5725 Corporate Way

    West Palm Beach, FL 33407
    • $2,950,000
    • STATUS: Active
    • ON SITE: 619 days
    • MLS #: A10560492
    UPDATED: 17 min ago
    $2,950,000
    • 0
      BEDS
    • 1.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Commercial
    Built:
    1983
    County:

    School Ratings & Info

    Description

    This luxury office building is located in an excellent location. The physical property consists of 19,452 sf of leasable space well situated on a large 1.149 acre lot. This property is currently 82.44% occupied with only three vacancies. It is currently grossing $251,439 annually netting $150,022. There are several existing tenants that have renewals upcoming in the next couple of years. This gives an investor a significant advantage to raise rents to market rates. Included in this offering is a proforma outlining new market leasing rates. These proforma figures project a gross operating income that will be $389,789.88 netting $288,373.88 a year. This NOI will yield an investor a 9.7% Capitalization rate.

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    Copyright 2020, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. The data relating to real estate for sale on this web site comes in part from the participating Associations/MLS’s in the Southeast Florida Regional Multiple Listing Service cooperative agreement, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2020, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. Use of search facilities of data on the site, other than a consumer looking to purchase real estate, is prohibited. Data last updated 2020-07-05T13:41:45.933.
    www.rileysmithgroup.com/homes/88815456
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    5725 Corporate Way West Palm Beach, FL 33407

    • Price: $2,950,000
    • Status: Active
    • Updated: 17 min ago
    • MLS #: A10560492
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.15
    Acres
    1983
    Built
    County:
    Palm Beach
    Property Description
    This luxury office building is located in an excellent location. The physical property consists of 19,452 sf of leasable space well situated on a large 1.149 acre lot. This property is currently 82.44% occupied with only three vacancies. It is currently grossing $251,439 annually netting $150,022. There are several existing tenants that have renewals upcoming in the next couple of years. This gives an investor a significant advantage to raise rents to market rates. Included in this offering is a proforma outlining new market leasing rates. These proforma figures project a gross operating income that will be $389,789.88 netting $288,373.88 a year. This NOI will yield an investor a 9.7% Capitalization rate.
    Exterior Features

    Parking Total 0 Pool Private YN No Waterfront YN No

    Property Features

    Association YN No Business Type Office Space Electric 110 Volts Power Horse YN No Internet Address Display YN Yes Internet Automated Valuation Display YN No Internet Entire Listing Display YN Yes New Construction YN No Senior Community YN No Special Listing Conditions Sale Tax Annual Amount 40805 Tax Year 2017

    Listing courtesy of Re/Max 5 Star Realty.


    Copyright 2020, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. The data relating to real estate for sale on this web site comes in part from the participating Associations/MLS’s in the Southeast Florida Regional Multiple Listing Service cooperative agreement, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2020, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. Use of search facilities of data on the site, other than a consumer looking to purchase real estate, is prohibited. Data last updated 2020-07-05T13:41:45.933.
     
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    The Riley Smith Group | Berkshire Hathaway HomeServices EWM Realty
    3560 Main Highway
    Coconut Grove FL, 33133