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Property profile & analytics
FOR LEASE
Medical Office Space

2151 45Th St West Palm Beach, FL 33407

36,750 SF 3.03 ac lot Built 1975
Entity Owned 3-yr Hold Free & Clear
Property ID
US18-5540974
Property summary
AI-generated overview

This exceptional medical office property in West Palm Beach, Florida, offers 73,500 square feet of space across two, two-story buildings. Currently, 22,283 square feet are available, divisible into units ranging from 318 to 3,079 contiguous square feet. Tenants will benefit from ample parking, boasting a generous 3 spaces per 1,000 square feet ratio, including covered drop-off areas at both building entrances and a unique covered walkway directly to the adjacent hospital. Recent ownership has invested in significant upgrades to lobbies, suites, and common areas, resulting in renovated, move-in ready spaces. The property enjoys a highly desirable location on the grounds of JFK North Hospital (HCA), providing unparalleled convenience and visibility. Its proximity to the Palm Beach Outlet Mall, featuring Whole Foods and numerous restaurants and shops, enhances its appeal. Furthermore, the property's strategic location is less than half a mile from I-95 and 2.5 miles from the Florida Turnpike/Beeline Extension, ensuring easy access for patients and staff. Nearby medical facilities include the Veteran's Medical Affairs Center, St. Mary's Hospital, and Palm Beach Children's Hospital. Importantly, this property has no ground lease restrictions. Note that tenant electric and janitorial services are not included in the rate.

Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1975
Construction CONCRETE
Total area 36,750 SF
Lot 3.03 ac (132,004 SF)
Zoning code CS
APN 74-43-43-06-00-000-1070
UPID US18-5540974
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
Current use
Occupant on record · Public records
  • Robert Gardner Physician
  • Columbia Partial Hospital Crisis Center Medical Clinic
  • Columbia Home Health Care Home Health Care Service
  • My Way Pediatrics LLC Pediatrician Medical Clinic
  • Dr. Paula Echeverri Palma MD Pediatrician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$7.91M
Comparable Approach Comparable
by Request
Blend (final) Blend
$6.22M
Owner & transaction history
West Palm Medical Center LLC · 3 yrs held
West Palm Medical Center LLC
since 2023
7 recorded transactions
2023
Price N/A
2023
Price N/A
2016
$7.8M
2016
Price N/A
2005
$9.7M
2005
$175,000
1969
Price N/A
Zoning & alternative use
CS · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

. 94-175. - Industrial districts neighborhood compatibility requirements. Secs. 94-176-94-200. - Reserved. ARTICLE VII. - SPECIAL DISTRICTS Sec. 94-201. - General development standards. Sec. 94-202. - Community service (CS) district. Sec. 94-203. - Community service planned development (CSPD) district. Sec. 94-204. - Recreation and open space (ROS) district.…

Zone name Community Service
General category UNKNOWN
Zone area 1,845.28 ac
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