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Property profile & analytics
OFF-MARKET Estimated value $5,435,000
Medical Office Space

11700 Okeechobee Blvd Royal Palm Beach, FL 33411-8721

22,720 SF 1.22 ac lot Built 2009
Entity Owned 6-yr Hold Free & Clear
Property ID
US18-6027122
Property summary
AI-generated overview

This exceptional two-story Class B office building, constructed in 2009, boasts 22,720 square feet of space situated on a 1.21-acre lot at the high-traffic intersection of Okeechobee Boulevard and Royal Palm Beach Boulevard in Royal Palm Beach, Florida (zip code 33411). The property features multiple suites, with available spaces ranging from 1,966 to 10,917 contiguous square feet on the second floor. The building includes an elevator and is zoned CG. The first floor is currently occupied by established medical practices, providing excellent synergy and high visibility for potential tenants. This versatile space is ideal for a variety of uses, including traditional office, coworking, executive office, medical office, and creative office settings. The building's location offers easy access to major roadways and ample parking. The property's APN is 72414326280010000. This is a rare opportunity to secure high-quality office space in a thriving location. The minimum divisible space is 1,966 square feet.

Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 2009
Construction CONCRETE
Total area 22,720 SF
Lot 1.22 ac (52,991 SF)
Zoning code CG
APN 72-41-43-26-28-001-0000
UPID US18-6027122
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$7.03M
CAP Approach CAP
$4.61M
Comparable Approach Comparable
$7.44M
Blend (final) Blend
$5.44M
Owner & transaction history
11700 Okeechobee Blvd LLC · 6 yrs held
11700 Okeechobee Blvd LLC
since 2020
Last sale
$4.9M
3 recorded transactions
2020
$4.9M
2019
$3.8M
2017
$2.4M
Zoning & alternative use
CG · Royal Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

The purpose and intent of this district is to provide for a variety of general retailing and personal service commercial activities in centrally located or easily accessible areas consistent with the village's comprehensive plan, as adopted and amended from time to time.

Zone name General Commercial District
General category COMMERCIAL
Zone area 802.44 ac
Source Realmo
Top alternative use upside
Neighborhood: shopping center $9.0M +0.2%
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