For Sale: $4,950,000.

Transcription

1 OFFERING SUMMARY COMPLETELY RENOVATED OFFICE BUILDING North Palm Beach, Florida For Sale: $4,950, CONTIGUOUS STORIES OF APPROXIMATELY 23,200 RSF Ideal for entire building user or r investor Contemporary finishes with unique interior features Combining the luxuries of a state-of of-the the-art facility and the convenience of a neighborhood office RE/MAX Prestige Realty Commercial Division 301 Clematis Street West Palm Beach, FL Fletcher Baldwin O: FletcherBaldwin@rpcommercial.net EXCLUSIVELY REPRESENTED BY: Coldwell Banker Jupiter Beach 1061 E. Indiantown Rd. Ste 100 Jupiter FL Kristen Danzig Jessica Harlan M: M: kdinflorida@gmail.com jessica.harlan@floridamoves.com

2 GENERAL DETAILS PROPERTY ADDRESS: 630 U.S. Highway 1 North Palm Beach, FL SALE PRICE: $4,950,000. TOTAL BUILDING SIZE: TOTAL LAND SIZE: 23,200+/- SF.86+/- AC (37,380 SF) PARCEL CONTROL # s: ZONING DISTRICT: LAND USE: YEAR BUILT: COMPLETELY RENOVATED: CA - Commercial (68-N Palm Beach) 1800 Office Multistory FLOORS: 4 TYPICAL FLOOR PLATE: 5,800 SF ELEVATORS: 2 PARKING: 3.4/1,000 CLASS: ENTRY: TOTAL REAL ESTATE TAXES (2017): MARKET: B 24/7 Access monitored. $84,278 North Palm Beach/Palm Beach Gardens LOCATION: East side of US Highway One, 1+/- mile north of Northlake Blvd, with views/frontage on a navigable canal leading to the Intracoastal Waterway. Predominantly office context, in a highly desirable area near upscale neighborhoods and 3+/- miles from I-95 with easy access points. MAJOR AIRPORTS: Palm Beach Intl 9.8 miles Fort Lauderdale Intl 52 miles Miami Intl 72 miles FIRE STATION: North Palm Beach Fire Rescue 560 US HWY 1, NPBch, FL HIGHLIGHTS 24/7 state of the art security monitoring 193+/- feet of prime US Highway One frontage Beautiful water views and abundant natural light Fantastic location for company headquarters or corporate site. Located on the east side of US Highway 1, between Northlake and PGA Blvd, in prestigious northeastern Palm Beach County. The property has been very well maintained since it was completely renovated in Water views accent the building s Corinthian inspired exterior RE/MAX Prestige Realty. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.

3 LOCATION MAP & AERIALS

4 FEATURES Highly efficient floorplates for single-building users or multiple tenants Full Floors of 5,800+/- square feet Fully ADA compliant 7 Minute Access to I-95 Hundreds of Service Providers and Retail Locations within 5 Minutes Drive Excellent proximity and access to thriving upscale residential base Spacious ceiling heights Impact glass throughout Waterfront views Ample parking Executive and private offices Executive board room Multiple conference rooms Multiple employee break rooms This building offers an outstanding opportunity for an owner user to occupy the entire building or to rent some or all of the space to tenants for a substantial cash flowing asset. Once leased up at market rent, this asset could yield in excess of a 10% cap rate. Located in affluent and rapidly growing Northeastern Palm Beach County, the property offers easy access to local retailers and service providers as well as the very finest in national retailers and restaurants considered to be some of the county s most popular and selective locations. The surrounding area contains a large presence of upscale residential developments. This modern office building is well suited to many uses. It is an ideal building for a corporate headquarters, high-tech industry, law firm, and/or numerous other service users. It boasts 193+/- feet of highly visible US highway 1 frontage, and easy access only minutes away to I-95. POTENTIAL Owner User or Investment! This prime location property is for sale or lease. Prominent Signature Building for Owner/User or National Tenant. Great Building for a Company Headquarters......A MUST SEE! This four story office building has a nice general reception and waiting area at the entrance. The total size is 23,200 SF. It is presently vacant and ready for immediate occupancy. The building was built in 1975, but was completely upgraded, modernized and renovated in It comes with a state of the art security system, and upgrades and finishes usually only found in A buildings. The windows are impact glass. The extensive interior improvements provide an investor with likenew conditions, and some offices offer waterfront views. It is a Modern Professional Office Building with large open workspaces, numerous private offices, Conference Rooms, Executive Offices, showers, Telecom/Server Rooms, Employee Lounges and Break Rooms. Since being completely upgraded and renovated, the property served as the corporate headquarters and primary facilities for Trinity Behavioral Health. However, they outgrew the space and just relocated to a larger property, which created this exceptional opportunity for an owner-user or investor. Ideally, the building is configured for a single user. However, the building can be easily divided into 3 full-floor tenant spaces and the ground floor can house two separate tenants in 2,400+/- SF spaces. Other space allocations are only limited by the investor s imagination.

5 MARKET SUMMARY AND SALES NOTES Property is currently vacant. The building is for sale of rent. Rentals (see brochure) are sought for a full building user, or for full-floor (5,800+/- SF) users. Ideally, the building is configured for a single user. However, the building can be easily divided into 3 full-floor tenant spaces and the ground floor can house two separate tenants in 2,400+/- SF spaces. In Palm Beach County for Q3, 2017, due to the increase in interest, class B space overall rent growth rose 12.7% to $33.14 per square foot (PSF) gross. Investors focused their attention on Palm Beach County s strong office fundamentals of rising rental rates and decreased vacancy, leading to an increased transactional volume of 2.7 MSF year-to-date, up 16.7% over same time last year. This asset presents a remarkable value-add opportunity for an owner user, or as an investment. Once leased up at market rent, the asset could yield in excess of a 10% cap rate. 4 Story Corporate Facility with 23,200 SF of ideally configured space designed to meet the demands of today' s sophisticated tenants ready for your business needs. Perfectly designed for todays creative work atmosphere, while on the other end of the spectrum it can be adoptive as highly productive process work space. Entire building available. If there was ever an opportunity to consolidate offices into one, expand to a floor plan with features unavailable in the area, or bring your "circle of influence" companies with you to a building; then this is it. Perimeter impact-glass windows around some with waterfront views. Multiple entrances, can be subdivided. The first floor space is an open floor plan with reception lobby, large lounge areas with juice bars, meeting areas, dressing rooms and showers. The second through fourth floors are built-out and move-in ready as high end office spaces. We are alternatively leasing the full building space or full floor tenancies starting at a deep discount of $22.50 NNN per square foot with the operating expenses estimated to be <$10.50 per square foot. We have office space available from 2,400, 5,800 all the way up to 23,200 square feet of contiguous space available for an owner occupant or new tenants. Class A finishes and touches at a Class B price MUST SEE TO APPRICATE THIS VALUE!!!

6 PROPERTY PHOTOS

7 FLOOR PLAN 630 US HWY ONE 23,300 SF, 4-story office building FIRST FLOOR

8 FLOOR PLAN 630 US HWY ONE 23,300 SF, 4-story office building SECOND FLOOR

9 FLOOR PLAN 630 US HWY ONE 23,300 SF, 4-story office building THIRD FLOOR

10 FLOOR PLAN 630 US HWY ONE 23,300 SF, 4-story office building FOURTH FLOOR

11 For more information, please contact: RE/MAX Prestige Realty Commercial Division Fletcher Baldwin Executive Director O: Kristen Danzig Coldwell Banker Jupiter Beach Jessica Harlan M: M: