8961 Okeechobee BlvdWest Palm Beach, FL 33411

Property Details for 8961 Okeechobee Blvd

Year built

2000

Construction

CONCRETE

Lot size

1.01 AC

Property size (Sq ft)

3,533 SF

Zone code

RPD

Property type

Retail properties

Property subtype

Banks

APN

74-42-43-20-08-002-0000

APU

74424320080020000

Description

This exceptional investment opportunity presents a fee-simple interest in a 3,533 square foot medical office building, fully occupied by Heartland Dental under a corporate-guaranteed net lease. Located at 8961 Okeechobee Blvd, West Palm Beach, FL 33411, this property boasts a strong 5.34% cap rate and a substantial NOI of $170,928. The lease, commencing October 1, 2021, and expiring October 1, 2031, has approximately 6.9 years remaining, with built-in 10% rental increases every five years throughout the initial term and at the beginning of each of the three 5-year lease options. The building, constructed in 2000 and renovated in 2023, sits on a 1.01-acre lot with 27 parking spaces. Situated in a prime location at a signalized, hard corner intersection, the property benefits from excellent visibility and access, being an outparcel of the Shoppes at Andros Isle. The property's permitted commercial zoning, strong demographics within a 5-mile radius, and affluent 1-mile radius further enhance its investment appeal. The property features a 100% occupancy rate and offers limited landlord responsibilities. This is a rare opportunity to acquire a stable, high-performing asset in a desirable location with significant upside potential. The property's APN is 74-42-43-20-08-002-0000.

Location Insight

City

West Palm Beach

County

Palm Beach

State

Florida

Latitude

26.7095

Longitude

-80.183

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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