745-749 US Highway 1 37,000 SF 97% Leased Office Building North Palm Beach, FL 33408 $4,600,000 ($124.32/SF)

Property Overview:
The Globe Office Complex is a 29,126 SF multi-tenant office property situated on 2.05 acres, with 23,500 SF of net rentable space. Built in 1971 and 1974, the property is zoned C-MU (Commercial, Mixed-Use), offering significant flexibility for either redevelopment or continued office use.
Key Highlights:
• Prime Location & Visibility:
o 200 feet of frontage on US Highway 1, with exposure to 22,000+ vehicles per day
o Easy access to I-95 and the Turnpike, enhancing connectivity
• Immediate Income & Leasing Upside:
o Existing tenants generate $272,947.32 in annual rent
o 6,997 SF of vacant space, providing additional leasing potential
• Redevelopment Potential:
o C-MU zoning and an 87,120 SF lot size support high-density mixed-use development (residential, retail, office)
o Strong demand for modern projects in North Palm Beach
• Strong Market Fundamentals:
o 1-mile radius: Expected population growth to 8,674 by 2029
o 5-mile radius: Projected population of 154,809
Development Potential:
The site’s zoning and prime location make it an ideal candidate for high-density redevelopment. Market trends indicate strong absorption rates and rental growth, making it a viable project for residential, retail, storage and office development that aligns with evolving demand.
The Globe Office Complex offers a unique blend of immediate income and long-term value creation potential. With its strategic location, flexible zoning, and strong market fundamentals, this property presents a rare opportunity for investors like yourself looking to maximize returns in a high-growth market.