155 E Blue Heron Blvd
Office and retail mixed-use property with views of the Atlantic Ocean and Intracoastal Waterways
Marketing description
On behalf of ownership, the Colliers | South Florida Investment Services Team, as the exclusive agent, is pleased to present for sale 155 E. Blue Heron Boulevard (the “Property”), a ±46,860 square foot office and retail mixed-use property located at 155 E Blue Heron Boulevard in Riviera Beach, FL. Built in 1987, the Property sits on ±2.1 acres of land strategically located near the Blue Heron Bridge with views of the Atlantic Ocean, Intracoastal Waterway, and Peanut Island.
Currently 100% leased, the Property consists of 16,222 SF of prime retail space and 30,368 SF of office space. The Property features a mix of tenants with below market rents and shorter weighted average lease term (WALT) of 3.6 years, allowing for near-term rental rate increases that can drive value growth. Additionally, there is a significant opportunity to convert existing gross and modified gross leases to NNN structures, enhancing net operating income by transferring expense obligations to tenants.
The Property is perfect for corporate or retail tenants, both in the Marine industry and other professional uses. Positioned between US Highway One to the west and the Blue Heron Bridge to the east, tenants enjoy easy access to Singer Island, The Port of Palm Beach, and Publix is located across the street.
Tenant and visitor convenience is supported by ample parking (additional parking is available via an easement on the bordering parcel to the West) and access to I-95, positioning 155 E. Blue Heron Boulevard as a highly accessible and attractive office destination in Palm Beach County’s competitive market. The Property presents a unique opportunity for investors looking for robust cash flow with significant upside and a highly sought after location with ocean views.
Investment highlights
Prime Waterfront Location: Strategic location near the Blue Heron Bridge – easily accessible to US Highway 1 and I-95, and featuring unobstructed views of the Atlantic Ocean, Intracoastal Waterway, and Peanut Island.
High Quality Multi-Purpose Asset: ±46,860 SF, mixed-use Property on ±2.1 acres in Palm Beach County featuring office and retail space.
Stable Rent Roll with Upside: Fully leased Property with strong cash flows and below-market rents – average in-place rents are 10-15% below market.
Opportunity for Lease Conversion + Management Efficiencies: Opportunity to convert existing gross and modified gross leases to NNN and improve management inefficiencies to fully recover all additional rent per the leases.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
