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618 Us Highway 1
North Palm Beach FL 33408 US

$2,995,000

Active Listing ID RX-10515967
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23,200 sqft
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Built in 1972
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Lot: 0.77 acre
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Other

$2,995,000

Active Listing ID RX-10515967
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618 Us Highway 1 Well below replacement cost only $129/PSF! Huge add-value opportunity. Waterfront property with WF views of boats/yachts! Seller manage & occupy 3, 528sf of space. Currently advertised for lease. Owner can stay but not required. Gross bldg SF is 23, 200, 59% occupied, 65 parking spaces, steal/masonry construction, great signage/visibility, high-traffic area, commercial zoning. Current gross income is roughly $197, 784 @ ~59% occupancy. Proforma @10% vacancy projection is $350, 000+/year EGI. Landlord space remodeled modern. Min average market gross rent is $18-$21+/SF depending on space size & lease term length. Vacant space needs minimal buildout; carpet, drywall, baseboards, paint, drop-ceiling tiles. Option to buy newer office furniture. Seller replaced cooling tower on roof. Improvements:

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Property Features

  • Facts
  • Built in: 1972
  • Lot Size: 0.77 acre
  • Property Type: Commercial
  • Property Sub-type: Other
  • Features
  • Cooling System: Central A/C
  • Floor Covering: Carpet, Tile - Ceramic
  • Roof Type: Unknown
  • Additional Features
  • Waterfront
Listing Changed: 12/6/2019 7:11:19 PM GMT
Source Updated Date: 1/28/2020 6:30:06 AM GMT

Courtesy of: Matan Morag, Regency Realty Services

Listing Source - ListHub

Copyright © 2019 Realtors Association of the Palm Beaches. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.