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2240 Palm Beach Lakes Blvd 22,600 SF 100% Leased Office Building West Palm Beach, FL 33409 $8,833,500 CAD ($390.86 CAD/SF) 6% Cap Rate
Investment Highlights
- Centrally located in the heart of West Palm Beach close to the airport, I-95, the turnpike and Palm Beach island.
- The fourth floor has been used as one suite.
- 19 rentable doors. Some suites have been converted to executive office space generating higher per square foot rents.
Executive Summary
This property offers exceptional flexibility for both investors and owner-users. 50% of the building is currently occupied by the owner and the other 50% is home to existing tenants, all of whom can vacate within 30 days, creating a rare opportunity for a buyer to take full possession of the property if desired.
A new owner may choose to:
Occupy the entire building or maintain the current tenants while occupying the top two floors, allowing for owner use while still benefiting from ongoing rental income.
The building is concrete construction, offering enhanced durability and resilience, making it a safe and secure option in the event of hurricanes and other natural disasters.
The pro forma cap rate is based solely on current tenant rental income and does not include any rent attributed to the space currently occupied by the owner, presenting additional upside potential upon lease-up or repositioning.
This property is well-suited for buyers seeking flexibility, stability, and long-term value with multiple occupancy.
A new owner may choose to:
Occupy the entire building or maintain the current tenants while occupying the top two floors, allowing for owner use while still benefiting from ongoing rental income.
The building is concrete construction, offering enhanced durability and resilience, making it a safe and secure option in the event of hurricanes and other natural disasters.
The pro forma cap rate is based solely on current tenant rental income and does not include any rent attributed to the space currently occupied by the owner, presenting additional upside potential upon lease-up or repositioning.
This property is well-suited for buyers seeking flexibility, stability, and long-term value with multiple occupancy.
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
22,600 SF
Building Class
B
Year Built
1971
Price
$8,833,500 CAD
Price Per SF
$390.86 CAD
Cap Rate
6%
NOI
$530,010 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
5,650 SF
Slab To Slab
10’
Building FAR
0.60
Lot Size
0.87 AC
Zoning
GC, West Palm Beach - GC, West Palm Beach
Parking
80 Spaces (3.53 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Property Manager on Site
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Real Estate
- -
- -
- -
-
Jan 0000
Continental Properties Inc, is one of the largest Real Estate Brokerage Companies in Florida. Find your dream home for sale in the Palm Beaches with the help of their expert real estate agents Continental Properties Inc. Continental Properties Inc. has offices throughout Palm Beach County and agents available to as assist you in buying, selling, renting, leasing, an property management for your residential or commercial needs
- The Law Offices of Keith Park
- Professional, Scientific, and Technical Services
- -
- -
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Real Estate | - | - | - | Jan 0000 | |
| The Law Offices of Keith Park | Professional, Scientific, and Technical Services | - | - | Lorem Ipsum | Jan 0000 |
Property Taxes
| Parcel Number | 74-43-43-19-09-038-0060 | Total Assessment | $3,973,704 CAD |
| Land Assessment | $0 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
74-43-43-19-09-038-0060
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$3,973,704 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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2240 Palm Beach Lakes Blvd
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