Historic Office Condo
120 S Olive Avenue West Palm Beach, FL 33401
For Sale
$499,000
SINGLE_FAMILY - West Palm Beach, FL
Property Size1,015 SF
Price / SF$491.63
Days on Market41
Property Features for 120 S Olive Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning
CWD-CD (city)
Standard status
Active
APN
74434322400007030
Size
1,015 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
GUARANTY BUILDING CONDOMINIUM UNIT 703 IN OR28162P1020
Tax Annual Amount
6612
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1925
Number of units
1
Flooring type
Vinyl, Laminate
Building materials
CBS
Roof type
Built-Up
Listing Agency:
Higher Standards Real Estate
(561) 855-8449
Listed By:
Christine Velez · License #674035
(561) 310-3048
Added: Jun 19
Changed: Jul 28
Last Checked: Jul 29 at 4:06PM
MLS# B26043065
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This distinctive commercial office condominium is located within the historic Guaranty Building. The space is approximately 1,015 square feet and has been renovated within the past five years. Improvements include the installation of a new HVAC system, supporting a comfortable indoor environment for day-to-day business operations. The building is noted for its landmark architectural character and historic presence.
Situated in the heart of downtown West Palm Beach at 120 S Olive Avenue, the property offers walkable access to the waterfront and a range of dining, shopping, entertainment, and cultural options. Commuters benefit from proximity to Brightline, Tri-Rail, and I-95. Palm Beach International Airport is described as about a 10-minute drive.
The suite can work well for professional offices looking for a distinctive setting for clients and teams, particularly for users who value a renovated interior while maintaining the historic building experience. As an owned office condo, it also provides an ownership structure for those evaluating a downtown office asset in the Guaranty Building.
Situated in the heart of downtown West Palm Beach at 120 S Olive Avenue, the property offers walkable access to the waterfront and a range of dining, shopping, entertainment, and cultural options. Commuters benefit from proximity to Brightline, Tri-Rail, and I-95. Palm Beach International Airport is described as about a 10-minute drive.
The suite can work well for professional offices looking for a distinctive setting for clients and teams, particularly for users who value a renovated interior while maintaining the historic building experience. As an owned office condo, it also provides an ownership structure for those evaluating a downtown office asset in the Guaranty Building.
Key Highlights
- Historic commercial office condo in the Guaranty Building; built in 1925 with CBS construction
- Over 1,000 SF office space in a renovated unit with laminate and vinyl flooring
- Central A/C and a new HVAC system installed within the past five years
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.0k | $55.20 |
| − Vacancy | −$8.9k | −$8.72 |
| EGI | $47.2k | $46.48 |
| − OpEx | −$11.8k | −$11.62 |
| NOI | $35.4k | $34.86 |
1,015 SF · lease $55.20/SF/yr · vacancy 15.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$505.5K
$442.3K – $589.7K
NOI $35,382 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$714.8K
$625.5K – $834.0K
NOI $50,037 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Renovated office condominium in the landmark Guaranty Building, with a newer HVAC system and downtown convenience.
Where is this office units located?
The property is located at 120 S Olive Avenue West Palm Beach, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Historic commercial office condo in the Guaranty Building; built in 1925 with CBS construction; Over 1,000 SF office space in a renovated unit with laminate and vinyl flooring; Central A/C and a new HVAC system installed within the past five years
