Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    2000 Palm Beach Lakes Blvd West Palm Beach, FL 33409

    Sponsored
    For Lease
    $20 SF/Yr

    West Palm Beach Office Space Available

    Lot size:
    150,198 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    Concourse Towers, a prominent West Palm Beach landmark, offers exceptional office space in two 10-story buildings totaling 150,198 square feet. This Class B property boasts stunning panoramic views, floor-to-ceiling windows, and balcony access in many units, maximizing natural light. Suites range from 1,514 to 7,296 square feet, offering both move-in ready spaces and the opportunity for full-floor customization. The complex features ample parking, including covered spaces, and excellent signage opportunities. Located at 2000 Palm Beach Lakes Blvd, West Palm Beach, FL 33409, Concourse Towers benefits from its convenient location near I-95, Palm Beach International Airport (within a 10-minute drive), and Downtown West Palm Beach, including Brightline's West Palm Beach Station. The surrounding area offers a vibrant mix of retail and dining options, including Tanger Outlets Palm Beach, Nordstrom Rack, and numerous restaurants such as Chick-fil-A, Tijuana Flats, Duffy's, and Park Avenue, all easily accessible from the beautifully landscaped campus. Recent capital improvements to both the exterior and interior enhance the high-end appeal, attracting top-tier talent. The 2024 estimated CAM is $14.50 per square foot, in addition to base rent. This prime location in a thriving business district, combined with its modern amenities and convenient access to major transportation routes, makes Concourse Towers an ideal choice for businesses seeking a prestigious and functional office space.

    Property Features for 2000 Palm Beach Lakes Blvd

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    150,198 SF
    Class
    B
    Total Rate
    256588.25

    Building Details

    Buildings
    2
    Stories
    10

    Unit(s) available at that property

    Space
    Availabilities
    Size
    7,296 SF
    Rate per SF
    $20

    We can help!

    Listing Contact
    Jason Sundook
    Jason Sundook

    Learn more

    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. Matthew D. ... Doctor Convergent Ideas llc Consultant Wired Cable - Data ... Telecommunications Contractor Dr. Jackson Goldberg, ... Ophthalmologist The Educated Wealth Center Financial Planner

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.092103921037
    Latitude
    26.71574719593

    Nearby Similar for Lease

    • $1,900,000
      3,905 SF

      High-Income Multifamily in Historic Northwood

      Fully occupied six-unit residential complex in West Palm Beach, Florida.
      415 31St St, West Palm Beach, FL 33407
      View Details
    • $1,550 /Mo

      Palm Springs Office Space Available

      Second-floor office space with multiple rooms and convenient location.
      2720 Forest Hill Blvd, West Palm Beach, FL 33406
      View Details
    • $950 /Mo
      13,000 SF

      Palm Beach Gardens Flexible Workspace

      Professional coworking and office solutions in Palm Beach Gardens.
      2000 Pga Blvd, West Palm Beach, FL 33408
      View Details
    • $1,750 /Mo

      Palm Springs Office Space Available

      Spacious office with natural light in a convenient location.
      2720 Forest Hill Blvd, West Palm Beach, FL 33406
      View Details
    • $485,000
      871 SF

      Renovated Office Condo in Gardens

      Move-in ready office condo in Palm Beach Gardens, Florida.
      3307 Northlake Blvd, West Palm Beach, FL 33403
      View Details
    • $729,900
      2,184 SF

      West Palm Beach Multifamily Building

      Five-unit apartment building in West Palm Beach, fully rented.
      921 14Th St, West Palm Beach, FL 33401
      View Details
    • $3,500 /Mo
      1,000 SF

      Renovated Office Condo in Gardens

      Move-in-ready office space in Palm Beach Gardens, Florida.
      3307 Northlake Blvd, West Palm Beach, FL 33403
      View Details
    • $1,700 /Mo
      1,757 SF

      West Palm Beach Office Space

      Commercial office space for lease in gated Contractors Business Park.
      2771 Vista Pkwy, West Palm Beach, FL 33411
      View Details
    • $1,900 /Mo

      Palm Springs Office Space Available

      Spacious office with private bathrooms in convenient Palm Springs location.
      2720 Forest Hill Blvd, West Palm Beach, FL 33406
      View Details
    • $30 SF/Yr
      2,252 SF

      Turn-Key Outpatient Behavioral Health Clinic

      Fully furnished medical/office space ready for immediate occupancy.
      2809 Poinsettia Ave, West Palm Beach, FL 33407
      View Details
    • New
      $2,300,000
      4,540 SF

      West Palm Beach Multifamily Investment

      Turnkey 8-unit multifamily property with strong cash flow.
      220 Walton Blvd, West Palm Beach, FL 33405
      View Details
    • $2,200 /Mo
      1,020 SF

      Versatile Flex Space in West Palm

      1,020 SF flex space with offices and kitchenette.
      6000 Georgia Ave, West Palm Beach, FL 33405
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - West Palm Beach Office Space Available
    Where is this office property / space located?
    The property is located at 2000 Palm Beach Lakes Blvd West Palm Beach, FL.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    Request Owner's contact information
    2000 Palm Beach Lakes Blvd West Palm Beach, FL 33409
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2000 Palm Beach Lakes Blvd
    West Palm Beach, FL 33409
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    2000 Palm Beach Lakes Blvd West Palm Beach, FL 33409
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jason Sundook
    Jason Sundook
    Real Estate License ID: FL 602243
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.