618 US Highway 1
North Palm Beach, FL 33408
Bay Pointe · Office Property For Sale

Below replacement cost only $129/PSF!! Waterfront property with waterfront views of boats and yachts! Huge add-value opportunity. Seller currently manages asset & occupy 3,528sf of space. Currently advertised for lease. Owner can stay but not required. 23,200sf building, 59% occupied, 65 parking spaces, masonry construction, great signage visibility, high-traffic area, commercial zoning, waterfront property with water views! Current gross income is roughly $197,784 @ ~59% occupancy. Proforma income @ 10% vacancy projection is $350,000+/year. Landlord space is remodeled modern. Min average market gross rent is roughly $19-$20+/SF for large spaces 3+ year leases. Smaller spaces and/or shorter terms lease for more $. Vacant space needs minimal build-out; carpet, drywall, baseboards, paint, drop-ceiling tiles. Option to buy like-new office furniture. Seller replaced cooling tower on roof. Recent past and planned improvements: New Main Electrical Panels on all four floors New Exterior Building Signage New Interior Tenant Signage New Lobby Tenant Directory New Luxury Vinyl Tile Flooring for Common Hallways on 2nd, 3rd and 4th Floors New interior wall and door painting in all common interior hallways and bathrooms New Elevator Cab walls and floors Paint exterior walls and window mullions on building Paint building curbing New tiled entry steps with railing New landscaping and irrigation system