Corner Office
For Sale
$625,000
631 Us-1, North Palm Beach, FL
SINGLE_FAMILY - North Palm Beach, FL
Property Size2,039 SF
Lot Size1.65 Acres
Price / SF$306.52
Days on Market97
Property Features for 631 Us-1
General Information
Property type
Residential
Property subtype
Office
Zoning
CA (city)
Parking
196
Parking features
Assigned
Subdivision
5250
Standard status
Active
APN
68434216300003050
Size
2,039 SF
Lot size
1.65 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ATRIUM OFFICE CONDOMINIUM UNIT 305
Tax Annual Amount
8148
HOA Fee
$4,285 Quarterly
Legal Description
ATRIUM OFFICE CONDOMINIUM UNIT 305
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
4
Flooring type
Wood
Building materials
CBS
Listing Agency:
The Keyes Company (PBG)
(561) 845-6036
Listed By:
Robert C Armstrong Jr. · License #3129891
(561) 371-3787
Added: May 26
Changed: Aug 1
Last Checked: Aug 30 at 1:06AM
MLS# B26034340
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.
Corner office space at 631 US-1 in North Palm Beach, Florida, set on a 1.65-acre site. The property totals 2,039 square feet and includes central heating and central air conditioning. Interior finishes include wood flooring.
The building is constructed with CBS materials and features assigned parking. Utilities available include cable, with water provided by public water and sewer served by public sewer. The property was built in 1985.
Zoning is listed as CA (city).
The building is constructed with CBS materials and features assigned parking. Utilities available include cable, with water provided by public water and sewer served by public sewer. The property was built in 1985.
Zoning is listed as CA (city).
Key Highlights
- 1.65‑acre corner office site
- 2,039 square feet
- CBS construction with wood flooring
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
$54,044
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
8.65%
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%
$1,080,880
$1.1M
Cap Rate 7%
$772,057
$772.1K
Cap Rate 9%
$600,489
$600.5K
Market Conditions
NOI Build-Up for 2,039 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
$93.0K $45.60/SF
− Vacancy
−$20.9K −$10.26/SF
EGI
$72.1K $35.34/SF
− OpEx
−$18.0K −$8.84/SF
NOI
$54.0K $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%
$1,080,880
Cap Rate 7%
$772,057
Cap Rate 9%
$600,489
Alternative Uses
Best Use
Office B
$772.1K
$675.6K – $900.7K
NOI $54,044 @ 7.0% cap · market cap 8.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,518 @ 7.0% cap · market cap 16.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,183
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Corner office space on a 1.65-acre site with central HVAC, wood flooring, and assigned parking.
Where is this office building located?
The property is located at 631 Us-1 North Palm Beach, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 1.65‑acre corner office site; 2,039 square feet; CBS construction with wood flooring
