3600 Broadway owned by Deep Horizon Broadway LLC, which is owned by Michael Danchuk 561-339-3485. Corner of 35th and Broadway.
Building was originally built as a hotel in 1930 and was converted to offices by City of West Palm Beach. Located in Broadway Opportunity Zone.
Zoned BMUD-I-Broadway Mixed use. Currently being used as a office complex with upstairs as recreation and living area.
Building 6448 square feet AC Total Space. Ist floor 5286 square feet, 2nd floor 1162 square feet.
Land .287 acres.
1st floor twelve individual 150 square foot offices and one 300 square foot office and 1 managers office about 150 square foot. Lunch area with refrigerator, sink, microwave and lounge. Conference room. Reception area.
2nd floor was 4 offices now used as one recreation area (billiard room) and one sleeping/lounge area with bathroom.
18 off street parking spots. Gated courtyard.
Roof 3 years. AC between 1 and 3 years. Both central and split units. Most of upstairs windows replaced with impact windows. Some downstairs windows also impact.
Cap rate between 4.8% and 5.8% conservatively. Current rental income $7,400/month.