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Property profile & analytics
FOR LEASE
Office buildings

5849 Okeechobee Blvd West Palm Beach, FL 33417

23,060 SF 2.39 ac lot Built 1981
Entity Owned 11-yr Hold Free & Clear
Property ID
US18-5948200
Property summary
AI-generated overview

This exceptional 20,336 square foot, three-story office building, constructed in 1986, is situated on Okeechobee Boulevard in West Palm Beach, Florida, offering unparalleled visibility and accessibility. The property boasts a prominent ground floor space, formerly occupied by a Wells Fargo branch, complete with a drive-thru and ATM. This versatile space is ideal for a variety of uses and is ready for immediate customization. The building features 110 parking spaces and benefits from multiple pylon signage opportunities, ensuring maximum brand exposure. Its strategic location provides direct access to the Florida Turnpike and is conveniently close to I-95, Palm Beach International Airport, and major medical and business centers. The surrounding area offers a wealth of amenities, including hotels, restaurants (such as Chick-fil-A, Duffy's, and LongHorn Steakhouse), and retailers (including Publix, Walmart Neighborhood Market, and SuperTarget). With a daytime population exceeding 258,000 within a five-mile radius and over 168,800 vehicles passing daily, this property presents a unique opportunity to establish a thriving business in a high-traffic, high-visibility location. The estimated 2024 operating expenses are $15.50 per square foot, inclusive of electricity. This property is located in Palm Beach County, Florida, with a zip code of 33417.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1981
Construction CONCRETE
Total area 23,060 SF
Lot 2.39 ac (104,274 SF)
Zoning code CG
APN 00-42-43-23-00-000-7040
UPID US18-5948200
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
  • Wells Fargo ATM Atm
  • Primary Care Associates-N Palm Bch Physician
  • MCCI Medical 3d Floor Physician
  • Humana Insurance Agency
  • Sadia Altidore Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$5.58M
Blend (final) Blend
$5.66M
Owner & transaction history
Hhms Investment LLC · 11 yrs held
Hhms Investment LLC
since 2014
5 recorded transactions
2014
$1.9M
2013
$2.2M
2013
Price N/A
2008
Price N/A
2004
$1.8M
Zoning & alternative use
CG · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage $9.2M +12.4%
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More about this property
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