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Office Medical

Centre Place Professional Park

1495-1499 Forest Hill Blvd, West Palm Beach, FL 33406

Listing Price: $4,750,000

Cap Rate
6.57%
Rentable SF
24,112
Occupancy
100.0%
Year Built
1984
Lot Size
2.29 acres

Investment Overview

Marcus & Millichap, as exclusive agent, is pleased to present for sale Centre Place Professional Park (the Property), a 24,112 square foot, two 2 building (13,136 S.F. & 10,976 SF) single-story, freestanding Class "B" Medical Office Property located in West Palm Beach, Florida The buildings were constructed in 1984 and sit on approximately 2.29 Acres together with a separately owned third building not included in the sale. Currently 100% occupied and leased to 26 tenants.

Investment Highlights

  • Short Term Leases Provide Opportunity to Mark-to-Market Below Market Rents and Capture Valuable Upside
  • Generally Well Maintained Physical Plant with Little Deferred Maintenance
  • Well Established Micro-Market for Medical, Dental & Professional Services Tenants Surrounded by the Residential Enclave of Lake Clark Shores
  • Highly Visible Central Palm Beach County Location Along the I-95 Corridor with Great Proximity to Major North/South Arteries to the East and West of the Subject.
  • High Barrier-to-Entry Market with Robust Market Fundamentals for Medical & Professional Services Office Space in a Hyper Land Constrained Market

Exclusively Listed By

Financing By

Office Medical

Centre Place Professional Park

Listing Price: $4,750,000

Cap Rate
6.57%
Rentable SF
24,112
Occupancy
100.0%
Year Built
1984
Lot Size
2.29 acres

Investment Highlights

  • Short Term Leases Provide Opportunity to Mark-to-Market Below Market Rents and Capture Valuable Upside
  • Generally Well Maintained Physical Plant with Little Deferred Maintenance
  • Well Established Micro-Market for Medical, Dental & Professional Services Tenants Surrounded by the Residential Enclave of Lake Clark Shores
  • Highly Visible Central Palm Beach County Location Along the I-95 Corridor with Great Proximity to Major North/South Arteries to the East and West of the Subject.
  • High Barrier-to-Entry Market with Robust Market Fundamentals for Medical & Professional Services Office Space in a Hyper Land Constrained Market

Investment Overview

Marcus & Millichap, as exclusive agent, is pleased to present for sale Centre Place Professional Park (the Property), a 24,112 square foot, two 2 building (13,136 S.F. & 10,976 SF) single-story, freestanding Class "B" Medical Office Property located in West Palm Beach, Florida The buildings were constructed in 1984 and sit on approximately 2.29 Acres together with a separately owned third building not included in the sale. Currently 100% occupied and leased to 26 tenants.

Exclusively Listed By

Financing By

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