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Grove Centre 21301 Powerline Rd 61,531 SF 85% Leased Office Building Boca Raton, FL 33433 For Sale
Investment Highlights
- Along Boca Raton’s high-traffic Powerline Road corridor, offering visibility, access, and long-term positioning in a high-barrier-to-entry market.
- Approximately 38% of the property is leased to independent medical practices, generating steady daily traffic and durable, recession-resistant income.
- Proximity to major employment centers, healthcare facilities, and educational institutions enhances daily foot traffic and user convenience.
- Currently 80.5% leased to a balanced mix of national and regional tenants, delivering stable, income-producing performance with upside potential.
- Surrounded by affluent residential neighborhoods with average household incomes exceeding $150,000, supporting long-term tenant demand.
- Part of the Powerline Portfolio, a rare opportunity to acquire scale through four premier mixed-use assets totaling over 510,000 square feet.
Executive Summary
21301 Powerline Road is a 61,531-square-foot mixed-use property located along the heavily traveled Powerline Road corridor in the heart of Boca Raton, Florida.
Located in one of South Florida's most affluent and fast-growing communities, Grove Centre is currently 80.5% leased to a well-balanced mix of national and regional tenants. Notably, approximately 38% of the property is leased to independent medical practices, offering durable, recession-resistant income and generating steady daily foot traffic from healthcare-related visitors.
Grove Centre enjoys excellent visibility and direct access to major employment hubs, top-rated schools, and medical facilities. It also benefits from a substantial daytime population and proximity to high-income residential neighborhoods, where the average household income within a 5-mile radius exceeds $150,000. This supports consistent demand across retail, medical, and office uses.
This property offers investors an attractive opportunity to acquire a well-located, income-producing asset in a supply-constrained submarket with high barriers to entry. Grove Centre's necessity-based tenant mix and stable occupancy levels position it well for continued strong performance and long-term value growth.
Grove Centre is part of the "Powerline Portfolio," a curated group of four premier mixed-use assets in Boca Raton totaling 510,155 rentable square feet. The portfolio includes:
Grove Centre at Powerline Road & Boca Grove Boulevard
Fountains Center at Powerline Road & W Camino Real
The Boardwalk at Powerline Road & SW 18th Street
City National Bank Plaza at Powerline Road & W Palmetto Park Road
All assets within the Powerline Portfolio are currently available for sale.
Call for Offers — June 13, 2025.
Located in one of South Florida's most affluent and fast-growing communities, Grove Centre is currently 80.5% leased to a well-balanced mix of national and regional tenants. Notably, approximately 38% of the property is leased to independent medical practices, offering durable, recession-resistant income and generating steady daily foot traffic from healthcare-related visitors.
Grove Centre enjoys excellent visibility and direct access to major employment hubs, top-rated schools, and medical facilities. It also benefits from a substantial daytime population and proximity to high-income residential neighborhoods, where the average household income within a 5-mile radius exceeds $150,000. This supports consistent demand across retail, medical, and office uses.
This property offers investors an attractive opportunity to acquire a well-located, income-producing asset in a supply-constrained submarket with high barriers to entry. Grove Centre's necessity-based tenant mix and stable occupancy levels position it well for continued strong performance and long-term value growth.
Grove Centre is part of the "Powerline Portfolio," a curated group of four premier mixed-use assets in Boca Raton totaling 510,155 rentable square feet. The portfolio includes:
Grove Centre at Powerline Road & Boca Grove Boulevard
Fountains Center at Powerline Road & W Camino Real
The Boardwalk at Powerline Road & SW 18th Street
City National Bank Plaza at Powerline Road & W Palmetto Park Road
All assets within the Powerline Portfolio are currently available for sale.
Call for Offers — June 13, 2025.
Data Room Click Here to Access
- Development Plans, Surveys, Zoning Reports
- Leasing
- Property Due Diligence
- Property Financials
- Third-Party Reports
Property Facts Under Contract
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
61,531 SF
Building Class
C
Year Built/Renovated
1983/1995
Percent Leased
85%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
20,570 SF
Building FAR
0.41
Lot Size
3.46 AC
Zoning
CS - Commercial
Parking
268 Spaces (4.34 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Balcony
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 1st Fl-Ste 100
- 2,200 SF
- Office
- Full Build-Out
- Now
Built offices and a large space that would suit a call center or financial services
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 100 | 2,200 SF | Office | Full Build-Out | Now |
| 3rd Fl-Ste 302 | 2,034 SF | Office | Full Build-Out | Now |
| 3rd Fl-Ste 311 | 5,000 SF | Office | Partial Build-Out | Now |
| 3rd Fl-Ste 313 | 1,400 SF | Office | - | Jun 2026 |
1st Fl-Ste 100
| Size |
| 2,200 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 302
| Size |
| 2,034 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 311
| Size |
| 5,000 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
3rd Fl-Ste 313
| Size |
| 1,400 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Jun 2026 |
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3rd Fl-Ste 302
| Size | 2,034 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
1 of 47
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3rd Fl-Ste 311
| Size | 5,000 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
Built offices and a large space that would suit a call center or financial services
1 of 20
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3rd Fl-Ste 313
| Size | 1,400 SF |
| Space Use | Office |
| Condition | - |
| Available | Jun 2026 |
1 1
Demographics
Demographics
1 mile
3 mile
5 mile
2020 Population
12,747
108,687
285,059
2024 Population
13,120
111,845
290,877
Population Growth '20-'24
2.9%
2.9%
2.0%
2020 Households
5,426
47,540
119,855
2024 Households
5,624
48,479
122,461
Household Growth '20-'24
3.7%
2.0%
2.2%
Average Age
47
47
45
Median Household Income
$76,208
$70,329
$70,695
Daytime Employees
8,960
57,776
208,001
Total Businesses
1,166
7,657
24,393
College Degree + Higher
51%
48%
44%
Property Taxes
| Parcel Number | 00-42-47-22-46-001-0000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $12,044,141 |
Property Taxes
Parcel Number
00-42-47-22-46-001-0000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$12,044,141
1 of 2
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
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Grove Centre | 21301 Powerline Rd
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