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    Class A Office Building Title is generated by Realmo AI

    150 East Palmetto Park Road, Boca Raton, FL 33432

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    Premium office space in the heart of Downtown Boca Raton.

    Type:Office
    Added:
    Nov 22, 2025
    Days on Market:
    193
    Last Refresh:
    May 20 at 12:43 am

    Property Features for 150 East Palmetto Park Road

    General Information

    Standard status
    Active
    Property subtype
    Office

    Spaces For Lease

    at 150 East Palmetto Park Road Contact us

    We can help!

    Listing Contact
    John Criddle

    Listing agent John Criddle

    Listing office CBRE | Palm Beach County

    Listing date Nov 22, 2025

    Source Cbre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE | Palm Beach County

    HighLights

    • Premier Downtown Boca Raton Location: Walkable access to restaurants, boutiques, and cultural attractions.
    • Class A Office Space: Features approximately 109,497 square feet of premium workspace with modern amenities.
    • Panoramic Ocean and City Views: Stunning views, especially from the penthouse floor.
    • Convenient Transportation Access: Located near Brightline, I‑95, and Tri‑Rail stations.
    • Free Covered and Secure Parking: Provides free covered parking and 24/7 secure access.
    • Energy Star Rated Building: Recognized for operational efficiency (2010‑2017).

    Overview

    The Bank of America Tower, located at 150 East Palmetto Park Road in Boca Raton, Florida, is a Class A professional office building offering approximately 109,497 square feet of premium workspace. The modern building features a sleek, contemporary design with a grand lobby and recently renovated common areas, elevators, and restrooms. Tenants can enjoy panoramic ocean and city views, especially from the penthouse floor. The property provides free covered parking and 24/7 access. Secure parking is also available. The building was Energy Star-rated from 2010 to 2017 for its operational efficiency and includes landscaped grounds. A restaurant, Mia Rosebud, is located on the first floor. Situated in the heart of Downtown Boca Raton at the intersection of East Palmetto Park Road and NE Mizner Boulevard, the Bank of America Tower is located in one of Florida’s most affluent areas. It is flanked by Mizner Park and Royal Palm Place and is central to Boca Raton’s Downtown Master Plan, which fosters a pedestrian-friendly hub with restaurants, upscale boutiques, and cultural attractions such as the Boca Raton Museum of Art. The location is highly walkable, with dining options such as Mia Rosebud, Louie Bossi’s Italian Ristorante, and Saquella Cafe within a short walk. It is less than a mile from the Boca Raton Resort & Club and 0.5 miles from the Brightline station, which offers high-speed rail to Miami and West Palm Beach. The building is 2 miles from Interstate 95, ensuring easy regional access, and within a 10-minute drive to the Tri-Rail station in Deerfield Beach. Nearby retail centers like Palmetto Park Square and Boca Center provide additional amenities, while Fort Lauderdale and Palm Beach International Airports are approximately 24 and 27 miles away, respectively.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gutman Valuation Services Real Estate Agency Paper Warrior Translations Translation Service Blue Sky Insurance ... Insurance Agency Timken Co Department Store Principal Financial Group Insurance Agency

    Suggested Use

    Restaurant Dental Office Spa & Massage Center Law Firm Hair Salon Real Estate Agency Nail Salon Daycare Center Building Supply Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Boca Raton
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0843
    Latitude
    26.3502

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    FAQs

    What type of property is this?
    Office building - Premium office space in the heart of Downtown Boca Raton.
    Where is this office building located?
    The property is located at 150 East Palmetto Park Road Boca Raton, FL.
    What are key features of this property?
    This property features: Premier Downtown Boca Raton Location: Walkable access to restaurants, boutiques, and cultural attractions.; Class A Office Space: Features approximately 109,497 square feet of premium workspace with modern amenities.; Panoramic Ocean and City Views: Stunning views, especially from the penthouse floor.
    (561) 283-5176
    We can help!
    Listing Contact
    John Criddle
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    150 East Palmetto Park Road, Boca Raton, FL, 33432
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