Single-Tenant Office

Connections Education Center

1310 Old Congress Ave, West Palm Beach, FL 33407

Listing Price: $6,200,000

Cap Rate
6.24%
Gross SF
26,709
Rentable SF
26,709
Price/Gross SF
$232.13
Lot Size
1.66 acres
Year Built
1984

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale The Connections Building (the Property), a 26,709 square-foot, two-story, free-standing, single-tenant net leased charter school constructed in 1984 and leased to Connections Education Center of the Palm Beaches, Inc., a 501 c (3) nonprofit educational facility which provides quality programs for students who are on the Autism Spectrum or have related disabilities.

The Property is very well maintained and constructed and consists of a two-story office building and attached single-story office building with 15,709 rentable square feet on the first floor and 11,000 rentable square feet on the second floor. Zoned MUPD the Property sits on 1.66 Acres of land with 55 surface parking spaces and 12 covered spaces representing a 2.57:1000 parking ratio. The Property also boasts a large fenced-in playground/fitness area.

Centrally located in Palm Beach County within the City of West Palm Beach fronting Congress Avenue immediately north of Belvedere Road directly across from the famed Palm Beach Kennel Club and the Palm Beach International Airport the Property is minutes from Florida's Turnpike and approximately 1.3 miles from I-95. The surrounding area offers a multitude of retail and commercial amenities including full-service hotels, retail, office and dining.

Connections Education Center represents an opportunity for an investor to acquire a single-tenant NNN leased property with very low over-site, stabilized cash flow in a high-barrier-to-entry sub-market supported by a highly improved underlying asset, 3% annual increases and a 5% management fee.

Investment Highlights

  • Highly Improved Two-Story Charter School Facility
  • Just North of Palm Beach International Airport
  • Excellent Visibility and Access
  • Close Proximity to I-95 and Florida's Turnpike
  • Low Oversight NNN Lease with Annual Increases and Management Fee
  • Tenant Recently Expanded with Fresh 5-Year Lease with Two 5-Year Options

Exclusively Listed By

Single-Tenant Office

Connections Education Center

Listing Price: $6,200,000

Cap Rate
6.24%
Gross SF
26,709
Rentable SF
26,709
Price/Gross SF
$232.13
Lot Size
1.66 acres
Year Built
1984

Investment Highlights

  • Highly Improved Two-Story Charter School Facility
  • Just North of Palm Beach International Airport
  • Excellent Visibility and Access
  • Close Proximity to I-95 and Florida's Turnpike
  • Low Oversight NNN Lease with Annual Increases and Management Fee
  • Tenant Recently Expanded with Fresh 5-Year Lease with Two 5-Year Options

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale The Connections Building (the Property), a 26,709 square-foot, two-story, free-standing, single-tenant net leased charter school constructed in 1984 and leased to Connections Education Center of the Palm Beaches, Inc., a 501 c (3) nonprofit educational facility which provides quality programs for students who are on the Autism Spectrum or have related disabilities.

The Property is very well maintained and constructed and consists of a two-story office building and attached single-story office building with 15,709 rentable square feet on the first floor and 11,000 rentable square feet on the second floor. Zoned MUPD the Property sits on 1.66 Acres of land with 55 surface parking spaces and 12 covered spaces representing a 2.57:1000 parking ratio. The Property also boasts a large fenced-in playground/fitness area.

Centrally located in Palm Beach County within the City of West Palm Beach fronting Congress Avenue immediately north of Belvedere Road directly across from the famed Palm Beach Kennel Club and the Palm Beach International Airport the Property is minutes from Florida's Turnpike and approximately 1.3 miles from I-95. The surrounding area offers a multitude of retail and commercial amenities including full-service hotels, retail, office and dining.

Connections Education Center represents an opportunity for an investor to acquire a single-tenant NNN leased property with very low over-site, stabilized cash flow in a high-barrier-to-entry sub-market supported by a highly improved underlying asset, 3% annual increases and a 5% management fee.

Exclusively Listed By

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