Office

Palmetto Central

palmetto central, boca raton, FL 33486

Price

Price on request

Price/Sq Ft

$4.00

Description

State of the Art Redevelopment Palmetto Central at 1489 and 1499 W Palmetto Park Road offers beautiful office space in a state-of-the-art redevelopment off Interstate 95 in Boca Raton. New, institutional quality ownership has invested $4 million in the lobby and common area renovations and a complete reposition of the asset and tenant mix to provide Class A quality. Tenants can expect floor-to-ceiling windows for abundant natural lighting and custom high-quality build outs. Building signage opportunities are available for full-floor users, delivering high visibility from Palmetto Park Road. 1489 W Palmetto Park defines first-class redevelopment with full-height hurricane impact windows, a VRF HVAC system, and private balconies on the third and fifth floors. 1499 W Palmetto Park has comprehensive capital improvements underway with a new modern façade, a new lobby, restrooms, and common area corridors. Highly anticipated park amenities include a tenant lounge, fitness center, conferencing facility, new monument signage with wayfinding throughout the park, and new landscaping with an outdoor seating area. Structured parking and 12 electric car charging stations are available.

Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.

Location

palmetto central, boca raton, FL 33486

Leaflet © OpenStreetMap contributors

Market Context

As of Q1 2026, the Palm Beach office market showed a 7.9% vacancy rate, average asking rents near $13.68/SF/yr, and rents up 7.9% year over year. Source: Cushman & Wakefield Q1 2026 market report.

Projected current pricing

indicative confidence

Projected asking rent

$13.68–$13.94/SF/yr

Estimated sale value

$73–$126/SF

Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Palm Beach office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q1 2026 asking-rent data (benchmark cap rate 6.6%–8.6%, asking rent trend-adjusted to today).

View the full Palm Beach Office market report →

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Compare it against other office listings for sale in Boca Raton, FL to benchmark pricing and space — view the full market.

Office market FAQ

Is the Palm Beach office market tightening or softening?: Vacancy is around 7.9%, with asking rents rising year over year (Q1 2026).

Unified Estimate

Medium Confidence

$470.28/SF-$636.26/SF

Mid: $553.27/SF

Rate estimator only; cost-of-business estimate unavailable.

Sale Price History

Market report quarterly trend fallback

Low Confidence

Avg Rent ($/SF/yr) (market data)
Vacancy %

Market asking rent (quarterly avg)Vacancy rate (right axis)

Investment Analysis

Beta Feature: Investment Analysis is currently in beta testing. Metrics are calculated based on available financial data and market comparables. Results are for informational purposes and should not be considered financial advice. Verify all assumptions and consult with a financial advisor before making investment decisions.