Address
5725 Corporate Way West Palm Beach, FL
Price
$ 2,950,000
Property Attributes
  • MLS#A10560492
  • TypeCommercial
  • CountyPALM BEACH
  • CityWest Palm Beach
  • Area5410
  • Zip33407
  • StyleOffice
  • Year Built1983
  • Taxes40805
  • Price$ 2,950,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size1.15 Acres
Listing Provided Courtesy Of:
RE/MAX 5 Star Realty
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.

Price History
10/24/2018 Listed $3,800,000
11/20/2018 12% - $3,360,000
1/24/2019 13% - $2,950,000

General Features

MLS Area 5410
Property SubType Office
Property Type Commercial Sale
Zoning Description I (city)

Interior Features

Electric 110 Volts

Exterior Features

Lot Size Area 50050
Lot Size Square Feet 50050
Structure Type Office

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 33407

Price
AVG $520K
$2.95M
Taxes
AVG $7,553
$40,805
Visits
AVG 18
247
Year Built
AVG 1985
1983
Walkscore
AVG 51
29
Data Provided by Walkscore ® not using MLS data

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