3601 N. Federal Highway, Boca Raton, FL 33431 (Palm Beach County)
Wells Fargo Bank Building For Sale in Boca Raton, Florida
Property Use Type – Net Lease Investment with 7 years left on lease
Building Size – 4,545 SF
Cap Rate – 5%
Price per Square Foot – $350.72
Occupancy – 100%
Property Type – Retail
Property Sub-type – Free Standing Building
Tenancy – Single
Lot Size – 1.31 AC
Florida Net Lease Investment Property Description
CBRE’ S NET LEASE PROPERTY GROUP is proud to offer for sale a 4,545-square-foot freestanding Wells Fargo situated on 1.31 acres in Boca Raton, Florida. Located approximately 40 miles north of Miami and within the Miami-Fort Lauderdale-West Palm Beach MSA (Population: 5.9 million), Boca Raton is an affluent highly educated city of over 90,000 residents. Wells Fargo is situated with excellent frontage on North Federal Highway (Traffic Count: 28,500 VPD), just 0.8 miles west from access to the area’ s pristine Atlantic Ocean beaches. The site is also 2.5 miles east of Florida Atlantic University (Enrollment: 25,790 students) and 2.2 miles east of the Boca Raton Airport. In addition, Wells Fargo is surrounded by a myriad of high-end residential communities. This Florida investment offers investors an excellent opportunity to acquire a net leased asset leased on a long-term NNN basis to one of the nation’ s premier banks.
Wells Fargo Bank, N.A (S&P: AA-) is the primary U.S. operating subsidiary of Wells Fargo & Co., a financial services firm that produces more than $84.9 billion in annual revenues, has over $1.72 trillion in assets, and operates more than 8,700 branches.
This Commercial Property is situated approximately 40 miles north of Miami, Boca Raton is an affluent and highly educated city of over 90,000 residents located in southern Palm Beach County. Part of the Miami – Fort Lauderdale – West Palm Beach MSA (Population: 5.9 million), the city has recently experienced rapid population growth that is outpacing the Florida average and more than doubling the U.S. population growth rate. Originally a tourist destination known for its beaches, the city boasts a thriving economy thanks to a burgeoning education sector and the presence of many major corporations. Boca Raton’ s largest employers include Florida Atlantic University, the corporate headquarters of Office Depot, 400-bed Boca Raton Regional Hospital, and Boca Raton Resort. Interstate 95 passes through the city, offering easy access to Miami, Jacksonville, and several major East Coast cities.
Highlights of Retail Boca Raton Property
- Absolute NNN Lease with 7.5 years of primary term remaining and four 5-year options to renew
- Superior deposits in excess of $201 million
- Dynamic demographics, with 3-mile population and average household income of 50,036 and $91,518, respectively
- approximately 4.2 MSF of retail, 11.9 MSF of office space, 4.8 MSF of industrial space
Florida Commercial Property Financial Summary (Actual)
|Net Operating Income||$79,684|
Listing information courtesy of CBRE’ S NET LEASE PROPERTY GROUP. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, solely to identify potential properties for potential purchase.
3601 N. Federal Highway, Boca Raton, Florida 33431 (Palm Beach County)