8961 Okeechobee Blvd West Palm Beach, FL 33411-1826

Property Details for 8961 Okeechobee Blvd

Year built

2000

Construction

CONCRETE

Lot size

1.01 lot acres

Property size

3,533 SF

Zone code

RPD

Property type

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

Longitude

-80.183

Latitude

26.7095

CBSA code

33100

CBSA name

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

Property Tax & Assessments