Freestanding Office Building with New
For Sale
$1,600,000
1402 Royal Palm Beach Boulevard, Royal Palm Beach, FL 33411
SINGLE_FAMILY - Royal Palm Beach, FL
Property Size3,864 SF
Lot Size0.02 Acres
Price / SF$414.08
Days on Market206
Property Features for 1402 Royal Palm Beach Boulevard
General Information
Property type
Residential
Property subtype
Office
Zoning
17
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 3, Bathroom 1, Bathroom 2
Security features
Security System
Directions
On Royal Palm Beach Blvd. Just North of Okeechobee Blvd next to McDonalds.
Subdivision
5530
Standard status
Active
APN
72414323160000030
Size
3,864 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Lakeview Center Lot 3
Tax Annual Amount
18081
HOA Fee
$4,748 Annually
Legal Description
Lakeview Center Lot 3
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2000
Floors in Building
1
Number of units
4
Flooring type
Tile - Ceramic, Carpet
Building materials
CBS, Stucco
Roof type
Composition
Listing Agency:
RE/MAX Prestige Realty/RPB · RE/MAX International
(561) 932-0444
Listed By:
Patrick P Kavanagh PA · License #603116
(561) 398-0265
Added: Jan 12
Changed: Aug 1
Last Checked: Aug 6 at 12:06PM
MLS# R11153532
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.
Freestanding office building on a 0.02-acre lot with a total size of 3,864 square feet. Built in 2000 with CBS and stucco construction and a composition roof. Interior finishes include tile and ceramic flooring and carpet, with central heating and central air conditioning. The property includes four bathrooms and central building services supported by public water and public sewer; cable is available.
Recent capital updates include four new A/C units installed in 2023 and a new roof installed in 2024. The property offers plenty of parking and is described as being in the heart of Royal Palm Beach, with nearby shopping and restaurants.
Current tenants are already in place, and the marketing materials indicate the tenants will sign a long-term lease for one-half of the building.
Recent capital updates include four new A/C units installed in 2023 and a new roof installed in 2024. The property offers plenty of parking and is described as being in the heart of Royal Palm Beach, with nearby shopping and restaurants.
Current tenants are already in place, and the marketing materials indicate the tenants will sign a long-term lease for one-half of the building.
Key Highlights
- 3,864 SF freestanding office building on a 0.02‑acre lot
- Four new A/C units installed in 2023
- New roof installed in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$102,415
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,048,300
$2.0M
Cap Rate 7%
$1,463,071
$1.5M
Cap Rate 9%
$1,137,944
$1.1M
Market Conditions
NOI Build-Up for 3,864 SF
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.
Gross rent
$176.2K $45.60/SF
− Vacancy
−$39.6K −$10.26/SF
EGI
$136.6K $35.34/SF
− OpEx
−$34.1K −$8.84/SF
NOI
$102.4K $26.51/SF
Area
Palm Beach County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,048,300
Cap Rate 7%
$1,463,071
Cap Rate 9%
$1,137,944
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.71M
NOI $102,415 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.72M
$2.38M – $3.17M
NOI $190,487 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
Explore this area
Business Placement
Demographics for 33411, FL
74,206
Population
30,063
Households
2.5
Avg Household Size
42
Median Age
39%
College-Educated
91%
High-School Grad
34.9 sq mi
ZIP Area
2,126
Density / Sq Mi
$89,329
Median Household Income
$46,461
Median Earnings
$1,887
Median Rent
$400,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Freestanding office building with four new A/C units and a roof replacement in 2024.
Where is this office units located?
The property is located at 1402 Royal Palm Beach Boulevard Royal Palm Beach, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 3,864 SF freestanding office building on a 0.02‑acre lot; Four new A/C units installed in 2023; New roof installed in 2024
