Property profile

119 E Palmetto Park Rd Boca Raton, FL 33432

FOR LEASE
Strip malls
Property ID
US18-4849533
5,280 SF 0.26 ac lot Built 1958
Entity Owned 7-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

The Aletto Offices at Sanborn Square, located at 119 E Palmetto Park Rd in Boca Raton, FL 33432, presents a unique opportunity for businesses seeking premium office space. This brand-new, Class A development, slated to break ground in Q4 2023 and completed in 2025, comprises two ten-story buildings totaling 140,000 square feet. The property offers flexible space options, with a minimum divisible unit of 5,000 square feet and the potential to lease the entire 140,000 square feet contiguously. Currently, all 140,000 square feet are available for lease. The buildings feature modern design and amenities, including elevators. The property is categorized as both retail and traditional office space, offering a diverse range of possibilities. Located in Palm Beach County, this development includes a dedicated parking garage, ensuring convenient parking for tenants and their clients. The property's prime location in Boca Raton provides excellent access to major transportation routes and a vibrant business community. This is an exceptional opportunity to secure space in a state-of-the-art, newly constructed building in a highly desirable location.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1958
Construction CONCRETE
Total area 5,280 SF
Lot 0.26 ac (11,252 SF)
Zoning code DDRI
APN 06-43-47-19-31-001-0060
UPID US18-4849533

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant Take-out & Catering
  • Restaurant

Location

119 E Palmetto Park Rd Boca Raton, FL 33432
Boca Raton metro Census 7205 MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.23M
Blend (final) Blend
$890k

Owner & transaction history

since 2018
4 recorded transactions
2018
$5.0M
2009
Price N/A
2006
Price N/A
2005
$2.6M

Zoning & alternative use

DDRI · Boca Raton, FL
Zoning description

DDRI development shall mean any development permitted under Ordinance 4035 as amended from time to time. (b) Rear separator line shall mean the line of demarcation, as set forth in this section, between residential devel…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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