Palm Beach FL, 55M

Price: $55,000,000 + cc + 2% Fee

OFF-MARKET REDEVELOPMENT OPPORTUNITY

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12.5 AC Assemblage | Office + Hotel + Raw Land

This is a rare, trophy asset opportunity in one of South Florida’s most affluent and development-friendly corridors—Palm Beach Gardens. Whether you're looking to reposition, redevelop, or hold premium commercial assets with strong upside, this deal is structured for serious end-buyers, family offices, and high-level developers.

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ASSET OVERVIEW – 3 Parcel Assemblage | ~12.5 Acres Total

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1. 10-Story Class A Office Tower
GLA: 80,839 SF
Current NOI: ~$1.62M
Projected 2025 NOI: $2.1M+
Recent Leasing Activity:
8,234 SF leased at $44/SF MG (~$362K/yr)
1,685 SF vacancy under contract
Mix of strong-credit tenants in a high-demand office market
Shared parking and access with hotel & land

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2. Embassy Suites Hotel
Keys: 161
Estimated NOI: $2.83M
Upside: Vacant 7,000 SF restaurant in lobby under LOI by credit tenant
Shared Infrastructure: Lobby + garage shared with office tower
Ownership Interest: 70% stake in adjacent 4.25-acre development parcel

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3. 4.25 Acres Raw Land – Zoned General Commercial
Frontage: 700+ feet along I-95 S
Zoning: General Commercial (flexible uses)
Development Potential: Ideal for self-storage, multifamily, or mixed-use
Ownership Split: 70/30 (Hotel/Office Tower)

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DEAL TERMS
Asking Price (Firm): $55,000,000
Consultant Fee: 2% to be paid by Buyer at Closing
Original Pricing: $60M – repositioned for quick transaction

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PUBLIC RECORD
2022 Assessed Land Value: $2,836,393
Land Rate: $15.34/SF
Parcel ID: 52-42-42-01-20-000-0030

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FLOOD RISK & ZONING DETAILS
FEMA Flood Zone: B/X (Moderate to Low Risk)
In SFHA: No
FEMA Map ID: 12099C0378F | Date: Oct 5, 2017
Floodplain Area: 100- & 500-year zones (not high-risk)

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This site sits at the intersection of luxury, visibility, and access — just minutes from top golf courses, waterfront estates, and the heart of Palm Beach affluence. Perfect for developers with a strategic eye on South Florida growth corridors.

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