7500 S Dixie Hwy
$2,200,000
7500 S Dixie Hwy, West Palm Beach, FL 33405
111,816
NOI
4,057 sqft
Building Size
Details:
Highlights:
- Lot Features: City Location
- Number Of Buildings: 1
- Cooling: Central Building A/C
- Heating: Central Electric
- Construction Materials: CBS Construction
- Security Features: Smoke Detector(s), Security System
Description:
Great opportunity on this one-story office with established cash flow with a lease in place and a good cap rate with more upside in renting additional vacant office space for either a longer-term investment or a possibly redevelopment play ahead of the trend in south section of West Palm Beach. Medical office zoning in place along with four stories and possibly more height and density with the right mixed-use plan. 13 parking spaces. Additional public street parking along the back street on Brevard Avenue. Recent renovations in 2020 flooring, some impact windows, ceiling and security system. Two office units – a 3177 square foot office currently leased at $35.49 per square foot (gross lease) and a second unit at 880 square feet which was a former dental office and is vacant for additional rental income. Assuming the second office space is leased based on the same amount as the occupied office, the projected cap rate is in the 7% range.
Location
Gallery
