Freestanding Retail Office
2055 Palm Beach Lakes Blvd. West Palm Beach, FL 33401
2055 Palm Beach Lakes Blvd., West Palm Beach, FL, 33401
Contact for pricing
For Sale
Contact for pricing
Freestanding commercial building with a drive-thru, original bank vault, and abundant front and rear parking.
Property Size6,496 SF
Price / SF$715.83
Days on Market17
Property Features for 2055 Palm Beach Lakes Blvd.
General Information
- Standard status
- Active
- Size
- 6,496 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1999
Listing agency
Reichel Realty & Investments Inc
Listed by
Joanne Perez · License #SL3014383
Source
Crexi
Added: Jul 6 Updated: Jul 21 at 1:49AM Checked: Jul 21 at 9:32AM
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 Reichel Realty & Investments Inc
Investment Insights
Based on property information with market context.
This freestanding commercial building offers a flexible layout and includes a drive-thru plus the original vault from its prior bank use. The property was most recently home to Freedman’s Office Furniture, and it is configured to support a variety of occupancy and reuse needs.
Strategically positioned along Palm Beach Lakes Boulevard in West Palm Beach, the site is located just west of the I-95 interchange. The setting provides direct connectivity between I-95, downtown West Palm Beach, and the Intracoastal Waterway, with prominent street signage.
Parking is available in both the front and rear, supporting convenient customer and employee access for day-to-day operations and future redevelopment plans.
Strategically positioned along Palm Beach Lakes Boulevard in West Palm Beach, the site is located just west of the I-95 interchange. The setting provides direct connectivity between I-95, downtown West Palm Beach, and the Intracoastal Waterway, with prominent street signage.
Parking is available in both the front and rear, supporting convenient customer and employee access for day-to-day operations and future redevelopment plans.
Key Highlights
- 6,496 SF freestanding commercial building with a drive‑thru
- Includes original bank vault from prior bank use
- Abundant parking available in both the front and rear
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $358.6k | $55.20 |
| − Vacancy | −$56.7k | −$8.72 |
| EGI | $301.9k | $46.48 |
| − OpEx | −$75.5k | −$11.62 |
| NOI | $226.4k | $34.86 |
6,496 SF · lease $55.20/SF/yr · vacancy 15.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.23M
$2.83M – $3.77M
NOI $226,443 @ 7.0% cap · market cap 4.87%
Second Best
Retail
$1.31M
$1.15M – $1.53M
NOI $91,835 @ 7.0% cap · market cap 1.97%
Theoretical Best
Office A
$4.57M
$4.00M – $5.34M
NOI $320,239 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Freedman's Office Furniture, ...
Furniture & Home Goods
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Freestanding commercial building with a drive-thru, original bank vault, and abundant front and rear parking.
Where is this office building located?
The property is located at 2055 Palm Beach Lakes Blvd. West Palm Beach, FL.
What is the asking price?
The asking price for this property is $4,650,000.
What are key features of this property?
This property features: 6,496 SF freestanding commercial building with a drive‑thru; Includes original bank vault from prior bank use; Abundant parking available in both the front and rear
