8000 N Federal Highway, Boca Raton, FL 33487 - Homes for Sale in Eastpointe - Palm Beach Gardens, FL

8000 N Federal Highway, Boca Raton, FL 33487 (MLS# RX-10744454)

$7,895,000
8000 N Federal Highway
Boca Raton, FL 33487
MLS# RX-10744454
Status: Closed
8 baths  |  26655 sqft
 | 
8000 N Federal Highway, Boca Raton, FL 33487
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8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487 8000 N Federal Highway, Boca Raton, FL 33487

Property Description
Compass Commercial is pleased to offer for sale 8000 North Federal Highway, a 26,655 SF premier office building located in Boca Raton's high-growth Northeast commercial corridor. The property provides a beautiful and professional setting with ample parking, including covered parking spaces and an excess 0.2-acre pad for overflow parking, additional structures, or additional rental revenues. Situated directly on US-1 (Federal Hwy), the property offers unmatched visibility and fantastic accessibility to capture all traffic flowing between Boca Raton and Delray Beach. The property provides direct access to numerous retailers, high housing density, and prominent amenities.

Details
Documents
Contract Information
Status: Closed
Original List Price: 7895000
Auction: No
Sold Price: $7,512,000
Current Price: $7,512,000
List Price/Bldg SqFt: 296.19
Listing Date: 2021-09-09
General Property Description
Type: Industrial
For Sale: Yes
For Lease: No
Property Desc: 18568 / 61
Subdivision: S/D OF 32-46-43 IN
Year Built: 1984
Built Desc: Resale
SqFt - Living: 26655
SqFt Source: Tax Rolls
# of Stories: 3
Total Units: 24
Baths - Total: 8
Acres: 1.13
% Air Conditioned: 100
Waterfront: Yes
Location Tax Legal
Area: 4180
County: Palm Beach
Parcel ID: 06434632120090090
Street #: 8000
Street Dir: N
Street Name: Federal
Street Suffix: Highway
Zip Code: 33487
Legal Desc: 32-46-43, SLY 200 FT OF N 500 FT OF LT 9 LYG E OF & ADJ TO US HWY # 1 & SW OF & ADJ TO C-15 CNL R/W
Geo Lat: 26.421598
Geo Lon: -80.073503
Status Change Info
Under Contract Date: 2021-12-02
Sold Date: 2022-02-22
Sold Price: $7,512,000
Terms of Sale: Cash
Sold Price/Bldg SqFt: 281.82
Property Features
Use: Income; Mixed; Professional Office
Type of Building: Commercial; Income; Office Space; Office/Professional; Office/Retail; Other
Sale Includes: Building and Land; Fixtures; Furniture; Inventory
Avail Docs: Abstract; Aerial; Previous Title
Avail Info: Books & Records; Copies of Lease; Drawings; Existing Survey; Full Financials; Investment Analysis; Owner managed
Flooring: Carpet; Ceramic Tile; Terrazzo Floor
Cooling: Central Individual
Heating: Central Building
Fire Protect: Sprinkler
Tenant Pays: None
Utilities: Cable; Electric; Gas Natural; Municipal Water; Public Sewer
Waterfront Details: Canal Width 1 - 80
Roof: Tar/Gravel
Terms Considered: Cash; Conventional
Lease: None
Possession: At Closing
Showing Instructions: Text Listing Agent
Contingencies: Financing; Inspection
Supplements
The property is further enhanced by more than $200,000 of recent capital improvements and new development occurring on neighboring parcels. The property is currently 97% leased, with additional revenues from a corporate cellular tower and building signage. The diverse tenant mix provides credit risk mitigation, while staggered lease expirations allow for tremendous upside with the migration of tenants to net lease structures at market rents. A buyer may also achieve vastly increased value via efficient management and identifying additional profit centers from the excess 0.2-acre parcel, rooftop revenues, telecom charges, and signage income. Historically, the property maintains high occupancy, but demand in the building has skyrocketed over recent months, yielding record-high rentals rates on new leases. Current ownership is dissolving its partnership, opening the opportunity for an investor to capitalize on increased management efficiency while participating in Boca Raton's unprecedented growth and surge in demand for high-end suburban office space.

Listing Office: Compass Florida LLC

Last Updated: March - 26 - 2024

8000 N Federal Highway, Boca Raton, FL 33487 - MLS# RX-10744454

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