MLS#A11972183
STATUSActive
PROPERTY TYPECommercial - Office
Property 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.
Property Features
Property Type: Commercial - Office
Cooling: Central Building A/C
Heating: Central Electric
Lot Size: 0.28 Acres
Roof Type: Built-Up
Stories: 1.0
Taxes: $19,516
Year Built: 1958
Feature Descriptions
Crops Included Y/N: No
Days on Site: 35
Directions: Inter State 95. Exit EAST on FOREST HILLS BLVD. Turn RIGHT onto S. DIXIE HWY (US1). Property will be on the left side.
Exterior: CBS Construction
Home Warranty Y/N: No
Lease Considered Y/N: Yes
Lease Terms: 1 To 3 Year Lease
Listing Terms: All Cash, Conventional/Refinance
Lot: City Location
Parcel#: 74434410070060050
Property Attached Y/N: No
Property Sub-Type: Office
Security: yes
Security: Smoke Detector(s), Security System
Sewer: Public Sanitation
Water: Public
Window: Partial Impact Glass
Listed By / Shown By
Listed By
Agency Name: Coastal Properties
Agency Phone: 561-746-9775
Shown By
Agency Title: Adams Cameron & Co. REALTORS - Commercial
Agency Phone: (386) 252-3120
7500 S Dixie Hwy | MLS# A11972183
This commercial property located at 7500 S Dixie Hwy , West Palm Beach, FL 33405 is currently listed for sale with an asking price of $2,200,000. Search West Palm Beach real estate on www.adamscameroncommercial.com today.