1013 Fl-7, Royal Palm Beach, FL 33411

Property Details for 1013 Fl-7

Year built

2001

Lot size

0.24 lot acres

Property type

Specialty properties

Property subtype

Schools

Description

This exceptional investment opportunity presents a fully occupied, 8,840 square foot preschool in Royal Palm Beach, Florida, part of the West Palm Beach MSA. The property, built in 2001 and situated on a 0.236-acre lot at 1013 FL-7, 33411, boasts a strong 6.30% cap rate and a substantial net operating income (NOI) of $296,204. The property is currently leased to O2B Kids!, a leading provider of early childhood education with a significant presence across multiple states. The lease, a triple-net (NNN) agreement with a corporate guarantee, has a remaining term of over 10 years, extending to November 30, 2034, with a single, 10-year renewal option. Annual rent increases are guaranteed by the greater of 2.5% or the Consumer Price Index (CPI), providing built-in protection against inflation. The asking price is $4,700,000, translating to a price per square foot of $531.67. The property benefits from its high-traffic location on State Road 7 (over 42,500 vehicles per day) and proximity to Okeechobee Boulevard (approximately 59,000 vehicles per day). The surrounding area demonstrates robust demographics, with over 150,000 residents within a five-mile radius and a projected increase in average annual household income to $129,004 by 2028. The area features numerous residential communities and retail establishments, including major national chains, creating a strong and stable market for the preschool. Palm Beach County's significant population and tourism further enhance the property's long-term value. This is a rare opportunity to acquire a high-performing, long-term leased asset in a rapidly growing market.

Location Insight

City

Royal Palm Beach

County

Palm Beach

State

Florida

Longitude

-80.2033

Latitude

26.7036