7800 Glades Rd, Boca Raton, FL 33434
- Retail space
- 33,168 SF
- 7.02 lot acres
Current Use by Public Records
- Retail space
Property Details for 7800 Glades Rd
- Year built
- 1987
- Construction
- CONCRETE
- Lot size
- 7.02 lot acres
- Zone code
- CG
- Property type
- Retail space
- APN
- 00-42-47-16-00-000-7060
- APU
- 424716000007060
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Feb 8, 2021 | $10,300,000 | Pebb Boca Retail LLC | Boca Lake Retail INC | Special Warranty Deed | — |
| — | — | Boca Lake Retail INC | — | Deed Of Trust · related | $4.3M · Dbs Bank Ltd |
Description
This exceptional investment opportunity presents a 5,000 square foot Bank OZK branch located at 7800 Glades Rd, Boca Raton, FL 33434. The property sits on a 1.29-acre lot and boasts a prime location at the intersection of Glades Road and Florida's Turnpike, experiencing high daily traffic volume exceeding 160,000 vehicles. The building, constructed in 1988 and extensively renovated in 2024, features a new roof and significant architectural upgrades. A new 10-year net lease (NNN) with Bank OZK commenced May 22, 2024, and expires May 21, 2034, offering a remaining term of 9.5 years. The lease includes rent bumps of 12% in year six and 10% every five years thereafter. The property generates a Net Operating Income (NOI) of $310,000, resulting in a 5.30% cap rate. The tenant, Bank OZK, is backed by a corporate guarantee, ensuring financial stability. This single-tenant property enjoys 100% occupancy. The surrounding area is characterized by high-income demographics, with an average annual household income exceeding $138,223 within one mile, projected to reach $151,494 by 2028. The area is densely populated, with over 100,000 residents within three miles and over 250,000 within five miles. Numerous national retailers and upscale residential communities are in close proximity, further enhancing the property's value and desirability. The asking price is $5,849,000. This is a truly exceptional opportunity to acquire a high-performing asset in a trophy location.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $12,010,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $9,345,000
- 6.5%
- $8,630,000
- 7%
- $8,010,000
-
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $13,225,000 Current use
- AUTO REPAIR, GARAGE
- $16,380,000 Change: +24% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $13,105,000 Change: -1% Conversion: Moderate
- MEDICAL BUILDING
- $13,075,000 Change: -1% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Boca Raton
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.1669
- Latitude
- 26.3672
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
