8000 N Federal Highway, Boca Raton, FL 33487

$7,895,000
26,655
SqFt

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. 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.

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Listing courtesy of Compass Florida LLC.


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