Commercial property in Boca Raton, Florida № 1938171

Property description

The property consists of a 60,050 SF Class A, three-story office building with 58,786 SF of leasable space and a two-level parking garage. An owner-user has the opportunity to immediately occupy a fully built-out 15,273 SF office suite, while seven long-term tenants provide strong in-place income to offset ownership costs. The property offers a 5.2% in-place cap rate with the potential to achieve an approximately 9.5% pro forma cap rate once 100% occupied. Over $1.7mil in recent renovations and high-end corporate build-out, this property presents a rare combination of turnkey owner-user occupancy and investment upside with no deferred maintenance.