Okee Square West Palm Beach, Florida

Cap Rate: Confidential
Closed Multi-Tenant
Property type: Multi-Tenant / Shopping Center

Property Details

Cap Rate: Confidential
Number of Units: 7
Rentable Square Feet: 124,000
Offering Price: Accepting Bids
Current NOI: $1,421,652
Current Occupancy: 92.33%
Land Area: 11.37 Acres
Parking: 702 spaces

2021-2031 Okeechobee Blvd
West Palm Beach, FL 33409

Okee Square is a 124,000 rentable square foot retail plaza located at 2021-2031 Okeechobee Boulevard in West Palm Beach, Florida. The Property consists of approximately 103,690 square feet of inline space as well as two outparcels– a 16,010 square foot Rooms To Go Kids and a 4,300 square foot PDQ Restaurant.

 Okee Square’s excellent location just off of Interstate 95 includes 575 Feet of frontage along the dense Okeechobee Road retail corridor with a population count of just over 107,000 people within a 3-mile radius. The Property is two miles or less from Palm Beach International Airport and downtown West Palm Beach, CityPlace, Palm Beach Outlet Mall and the island of Palm Beach.

 Okee Square is surrounded by numerous national retailers including Starbucks, El Dorado Furniture, Audi of West Palm Beach, Roger Dean Chevrolet, West Palm Beach Hyundai, Aldi, Burlington Coat Factory, Dollar Tree, McDonald’s, Dunkin’ Donuts, Enterprise Rent-A- Car, Avis Rent-A-Car, AT&T, T-Mobile, Sprint, Jersey Mike’s Subs, Peter Glenn Ski & Sports and Orangetheory Fitness, to name a few.

 The Property is approximately 92 percent occupied and is anchored by Advance Auto Parts, Michael’s and Staples, who comprise 62 percent of the total rentable square footage. Advance Auto Parts also recently signed a 10-year lease in July of 2017, and both Staples and Michaels recently extended their lease terms until 2022 and 2023.

 Okee Square offers an investor the opportunity to own a stabilized retail property in a prime location with several national tenants with long-term tenancy. The Property also provides an investor substantial upside by filling the 9,000-square foot vacancy, which will significantly increase Okee Square’s current net operating income.

For More Information, Download OM: 

Download Barry Wolfe V-Card

Download Alan Lipsky V-Card