The Blackstone Building on Clematis St
Introducing an exceptional investment opportunity in the heart of West Palm Beach, FL. This historic 19, 765 SF building, originally constructed in 1924 and thoroughly renovated in 2025, offers a timely blend of classic charm and modern functionality. Zoned CWD-CD (Clematis Waterfront District), it presents a strategic location in the prestigious Palm Beach area. With a remarkable 90% occupancy rate, this property showcases a strong rental history and promising income potential for the savvy Office / Office Building investor. Don't miss the chance to add this prime asset to your portfolio.
Highlights:
• Generating Approx $45,000/mo, Which will go to $50k/mo once the last retail bay and two smaller offices are leased
• New 5-Year Lease with Nicos (a long-time Clematis St Restauranteur)
• New 10-Year Lease with ManCave, a High-End Barbershop Chain
• Office Floors (2 & 3): All leased except 2 tiny ones.
• New Elevator Installed in 2024
• Nearly 4000 residences w/in walking distance
• 15,000 cars per day travel through Clematis St & S. Dixie
• Local Average HHI = $93,679+/yr
• 40,000 People Work Within 1 Mi of The Building
• Increased Seasonal Traffic on Saturdays (Green Market)
- Property type
- Office
- Building size
- 19,765 SF RBA
- Lot size
- 0.16 acres
- Year built
- 1924
- Floors
- 3
- Occupancy
- 90%
- Zoning
- CWD-CD - Clematis Waterfront District
- Cap rate
- 6%