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1850 Forest Hill Boulevard, West Palm Beach, FL 33406

$6,650,000
Property Type: Comm/Industry Baths: 14 Square Footage: 52,463 Status: Closed
Current Price: $6,650,000 Last Modified: 10/02/2025

Description

VALUE-ADD OFFICE COMPLEX. First time on market. Prime corner location on Forest Hill Blvd. 4 parcels totaling 4.21 acres with 3 buildings and 52,463 rentable SF. Significant upside potential through professional management. Increase NOI immediately by leasing 76,227+ SF of available space and enforcing CAM recovery clauses. Major long-term growth opportunity by marking significant below-market rents to current rates as leases roll over. Recent major capital improvements de-risk the investment. Ideal for a 1031 exchange or long-term investor seeking substantial equity creation.

Supplements: RARE VALUE-ADD OFFICE INVESTMENT OPPORTUNITY Presenting a unique opportunity to acquire a substantial office complex located on a prime, high-visibility corner on Forest Hill and Florida Mango. Offered for the first time by its generational ownership, this property consists of four contiguous parcels totaling 4.21 acres, featuring three multi-tenant office buildings (1850, 1860, & 1870 Forest Hill Blvd) with a combined 52,463 rentable square feet. This investment offers a clear, multi-stage path to value creation for a new owner. KEY HIGHLIGHTS & BUSINESS PLAN IMMEDIATE OPERATIONAL UPSIDE: Increase NOI on day one by enforcing existing lease clauses for the recovery of Common Area Maintenance (CAM) expenses, which has not been done historically. LEASE-UP POTENTIAL: Immediately lease over 6,200 SF of available space. This includes 5,004 SF of traditional vacancy plus a desirable 1,233 SF owner's suite that will be delivered vacant at closing. SIGNIFICANTLY BELOW-MARKET RENTS: A large portion of the rent roll consists of long-term tenants paying rents at a substantial discount to the current market. This embedded loss-to-lease provides a sustained, long-term driver of revenue growth as leases naturally expire. RECENT CAPITAL IMPROVEMENTS: The property has been significantly de-risked for a new owner with major recent investments, including a new roof on one building (2024), a fully resurfaced parking lot (2023), and a full connection to public water and sewer for all buildings. PRIME LOCATION AND SCALE: A campus-like setting on a major commercial corridor minutes from I-95 and Palm Beach International Airport (PBI), offering excellent visibility and access. PROPERTY DETAILS Address: 1850, 1860, & 1870 Forest Hill Blvd, West Palm Beach, FL 33406 Total Parcels: 4 Total Land Size: 4.21 Acres Total Rentable SF: 52,463 Parking: 173 Surface Spaces This is a rare chance to acquire a large-scale office asset with a proven history and multiple, clear paths to future value. A signed Confidentiality Agreement is required for the release of the full Offering Memorandum (OM), detailed rent roll, and financial information.

More Information MLS# RX-11101773

Contract Information

Auction: No List Price/Bldg SqFt: 123.89 Negotiable Seller Concessions YN: Yes Status: Closed Original List Price: 6500000 Sold Price: $6,650,000 Current Price: $6,650,000 Listing Date: 2025-06-23

General Property Description

For Sale: Yes For Lease: No Property Desc: Office Complex Acres: 4.21 Built Desc: Resale Waterfront: No SqFt Source: Owner # of Stories: 2 Total Units: 44 % Air Conditioned: 100 Type: Office Subdivision: FLA-MANGO GROVELETS Year Built: 1981 SqFt - Living: 52463 Baths - Total: 14

Location, Tax & Legal

Geo Area: PB21 Country: United States State/Province: FL Tax Year: 2024 Zoning: LC(cit Real Estate Taxes: 209638 Area: 5470 County: Palm Beach Parcel ID: 34434408060060021 Street #: 1850 Street Name: Forest Hill Street Suffix: Boulevard Zip Code: 33406 Legal Desc: FLA MANGO GROVELETS ADDN NO 1 AMND LT 2 (LESS WLY 567 FT) & TH PTOF LT 3 LYG SELY OF & ADJ TO FOREST HILL BLVD BLK 6 Geo Lat: 26.65091 Geo Lon: -80.078302

Remarks & Misc

Directions: Corner of Forest HIll Blvd. and Florida Mango

Office/Member Info

DXORIGMLNO: RX-11101773 DXORIGMLSID: RML

Status Change Info

Terms of Sale: Exchange Sold Price/Bldg SqFt: 126.75 Under Contract Date: 2025-07-28 Sold Date: 2025-10-01 Sold Price: $6,650,000

Building Info

# of Offices: 44 # of Tenants: 30 Miles to Expressway: 1 Miles to Beach: 8

Type of Building

Commercial: 1 Free Standing: 1 Medical: 1 Office Space: 1 Office/Professional: 1

Sale Includes

Building and Land: 1

Avail Info

Copies of Lease: 1 Existing Survey: 1 Full Financials: 1

Construction

CBS: 1

Avail Docs

Aerial: 1 Survey: 1

Cooling

Central Individual: 1 Electric: 1

Heating

Central Individual: 1 Electric: 1

Tenant Pays

Cable: 1 Electric: 1 Sewer: 1 Water: 1

Use

Professional Office: 1

Miscellaneous 2

Med Plumbing: 1 Traffic Heavy: 1

Flooring

Other: 1

Utilities

Cable: 1 Electric: 1 Public Sewer: 1 Public Water: 1 Separate Meter: 1 Septic: 1

Fire Protect

Smoke Alarm: 1 Sprinkler: 1

Roof

Comp Rolled: 1

Terms Considered

Cash: 1 Conventional: 1

Possession

At Closing: 1 Funding: 1

Lease

Gross Rent: 1 Long Term: 1

Contingencies

Inspection: 1

Concessions

Seller Concessions: No

Contributions

Buyer Contributions: No

Property Features

Use: Professional Office Type of Building: Commercial; Free Standing; Medical; Office Space; Office/Professional Construction: CBS Sale Includes: Building and Land Avail Docs: Aerial; Survey Avail Info: Copies of Lease; Existing Survey; Full Financials Miscellaneous 2: Med Plumbing; Traffic Heavy Flooring: Other Cooling: Central Individual; Electric Heating: Central Individual; Electric Fire Protect: Smoke Alarm; Sprinkler Tenant Pays: Cable; Electric; Sewer; Water Utilities: Cable; Electric; Public Sewer; Public Water; Separate Meter; Septic Roof: Comp Rolled Terms Considered: Cash; Conventional Lease: Gross Rent; Long Term Possession: At Closing; Funding Contingencies: Inspection
Listing Office: EXP Realty LLC
IDX
Last Updated: October - 02 - 2025
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