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31690967
31690968

255 George Bush Blvd, Delray Beach, FL 33444 For Sale

MC
FL SL3437314
Cushman & Wakefield - Boca Raton, Florida
SO
FL BK3005339
Cushman & Wakefield - Boca Raton, Florida
Listed by Cushman & Wakefield - Boca Raton, Florida
$2,500,000
94 days on market
Updated 78 days ago

255 George Bush Blvd

Details
Property Type Office
Sub Type Medical Office
Net Rentable (SqFt) 2,696
Units 2
Tenancy Multi
Year Built 1966
Lot Size (SqFt) 20,430
Zoning RO - Residential Office
Parking Spaces 24 spaces

MEDICAL OFFICE BUILDING FOR SALE

Marketing description

Cushman & Wakefield of Florida, LLC, acting as exclusive advisor, is pleased to present the opportunity to acquire 255 George Bush Blvd (the Property) at an offering price of $2,500,000. The Property consists of a 2,696 SF medical office building ideally located in the heart of Delray Beach. Strategically positioned along George Bush Boulevard, approximately one mile north of Atlantic Avenue and just west of Federal Highway, the Property benefits from excellent visibility, convenient access, and close proximity to Delray Beach’s premier retail and dining corridor. The site offers 24 parking spaces, providing an attractive parking ratio of 8.9/1,000 SF. Currently, the building is 60% leased to a single tenant occupying 1,616 SF, offering stable in-place income while presenting a value-add opportunity through lease-up of the remaining 1,080 SF vacancy. The Property currently generates in-place NOI of $64,640, with the potential to increase to $107,840 upon full lease-up. Additionally, the asset offers long-term upside through potential redevelopment upon tenant rollover, enhancing its appeal as both a cash-flowing investment and a strategic repositioning opportunity.

Investment highlights

STRATEGIC LOCATION

Situated in a high-demand downtown submarket with strong demographics and continued in-migration

INCOME IN PLACE

60% occupied by a medical tenant providing lease-up or owner-occupant opportunity

RESIDENTIAL/OFFICE

Redevelopment Potential Ideal candidate for future mixed-use or office redevelopment

ATTRACTIVE USER OPPORTUNITY

Suitable for owner-user medical or professional office

STRONG MARKET FUNDAMENTALS

Increasing rents and limited supply in the Delray Beach office submarket

Listing Contacts

MC
FL SL3437314
Cushman & Wakefield - Boca Raton, Florida
SO
FL BK3005339
Cushman & Wakefield - Boca Raton, Florida
Listed by Cushman & Wakefield - Boca Raton, Florida

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Additional Information

Name
Mike Ciadella
License
SL3437314
Brokerage
Cushman & Wakefield
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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