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2223 Palm Beach Lakes Boulevard

West Palm Beach, FL 33409
  • $7,800,000
  • STATUS: Active
  • ON SITE: 1587 Days
  • MLS #: RX-10451836
UPDATED: 34 min ago
$7,800,000
  • 0
    BEDS
  • 1.75
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 27,266
    SQFT
  • $286
    $/SQFT
Type:
Commercial
Built:
2007
County:

School Ratings & Info

Description

7.02 CAP, CURRENTLY 100% OCCUPIED HOWEVER, DUE TO COVID TENANTS ARE PAYING LOWER RENTS FOR A SHORT TIME AND ARE NOT PAYING PER LEASE AGREEMENT WHICH ALLOWS FOR MULTIPLE OPPORTUNITIES FOR OWNER-USER OR INVESTMENT. BRING ALL CASH OFFERS. 27, 500 SF (16,500 SF) Leased to Rock Fitness Gym (GYM HAS LEGAL RENT STIPULATION AND IF NOT FOLLOWED WILL BE REMOVED VIA COURT ORDER WITHOUT ANY FURTHER HEARINGS) and (11,000 SF) Leased to Furniture Direct (5 locations in S. FL) Both tenants have new 10+ year leases with options. The Retail property was completely renovated between 2017 - 2018 including a new roof.

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www.thepaizgroup.com/homes/86104405
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2223 Palm Beach Lakes Boulevard West Palm Beach, FL 33409

  • Price: $7,800,000
  • Status: Active
  • On Site: 1587 Days
  • Updated: 34 min ago
  • MLS #: RX-10451836
0
Beds
0
Baths
0
½ Baths
1.75
Acres
27,266
SQFT
$286
$/SQFT
2007
Built
Neighborhood:
Palm Beach Lakes Comm No 3 In
County:
Palm Beach
Area:
West Palm Beach
Property Description
7.02 CAP, CURRENTLY 100% OCCUPIED HOWEVER, DUE TO COVID TENANTS ARE PAYING LOWER RENTS FOR A SHORT TIME AND ARE NOT PAYING PER LEASE AGREEMENT WHICH ALLOWS FOR MULTIPLE OPPORTUNITIES FOR OWNER-USER OR INVESTMENT. BRING ALL CASH OFFERS. 27, 500 SF (16,500 SF) Leased to Rock Fitness Gym (GYM HAS LEGAL RENT STIPULATION AND IF NOT FOLLOWED WILL BE REMOVED VIA COURT ORDER WITHOUT ANY FURTHER HEARINGS) and (11,000 SF) Leased to Furniture Direct (5 locations in S. FL) Both tenants have new 10+ year leases with options. The Retail property was completely renovated between 2017 - 2018 including a new roof.
Exterior Features

Construction BlockCbsConcrete Miles To Expressway 1 Roof Built-UpOtherSteel Joist Waterfront Description Canal Width 1 - 80Interior Canal Waterfront YN No

Interior Features

Bath Toilets 20.00 Ceiling AcousticInsulatedSuspended Cooling Central IndividualElectric Flooring CarpetMarbleWood Floor Heating CentralElectric Miscellaneous1 Landscaped Miscellaneous2 Meeting RoomOfficePrivate RestroomPublic RestroomRear AccessRestaurantSeparate Office AreaShowroomTraffic AutoTraffic Heavy Percent Air Conditioned 100.00 Unit1 Half Baths 11 Unit1 Unit Desc Shops Unit2 Half Baths 11 Unit2 Unit Desc Suites

Property Features

Auction No Available Docs Enviro. Audit-Ph1Survey Available Info AppraisalCopies Of LeaseExisting SurveyFull FinancialsPhotos Built Desc Resale Fire Protection Smoke AlarmSprinkler For Lease Yes For Sale Yes Lease 1-3 Years4-6 Years7-10 YearsGross RentLong TermOption Available List Office Board Code Realtor Association Of The Palm Beaches (Rapb) Location Airport AccessAnchor CenterCityInvestmentShopping Center Maintenance Fee Includes Insurance-BldgLawn CareMaintenance-ExteriorReal Estate Tax Meters 3.00 Min Lease Months 36.00 Sale Includes Building And LandSigns Security Security Light Special Info City JurisdictionTitle Insurance Tax Amount Real Estate Taxes 50034.00 Tax Year 2017 Tenant Pays Common Area Maint.ElectricSewerWater Tenants 3 Terms Considered CashConventionalExchange Type Of Building CommercialIncomeMedicalOffice/RetailRestaurantRetailShopping CenterSpecial Purpose Unit1 Rent Period Month Unit1 Units 1 Unit2 Rent Period Month Unit2 Units 1 Use OtherProfessional OfficeRetail Utilities 201+ Amp220ElectricPublic SewerPublic WaterSeparate Meter Zoning StoreGc

Listing provided courtesy of H. Alan Welles Real Est, Llc: (561) 744-8900. Listing information © 2022 BeachesMLS
 
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The Paiz Group | EWM Realty International
1700 East Las Olas Boulevard Suite 103
Fort Lauderdale FL, 33301