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Building Details

Year Renovated 2022

Buildings 2

Tenancy Multi

Building Size 5,851 SF

Listing Agency: CBRE - Palm Beach County

Listed By: Tyler Kuhlman · License #SL3386073

Source: Crexi

Added: Aug 4 Changed: Oct 7 Last Checked: Oct 15 at 12:06AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Palm Beach County

Investment Insights

Based on property information with market context.

The property is a 5,851-square-foot professional office building on approximately 0.72 acres at 112 U.S. 1 in Tequesta, Florida. Its three-suite layout includes an approximately 1,556-square-foot owner’s suite available for occupancy at closing. The building is zoned Mixed Use, with the source information identifying potential accommodation for medical office and professional service users.

Positioned along U.S. Highway 1, the property has direct frontage on the roadway. Two additional suites are scheduled to roll within 12 months, giving an owner-user the ability to occupy the currently identified owner’s suite and potentially expand into additional building space during the first year of ownership. In-place tenancy provides interim occupancy while the remaining suites transition.

Key Highlights

• 5,851‑square‑foot professional office building on approximately 0.72 acres
• Three‑suite configuration with an approximately 1,556‑square‑foot owner’s suite
• Direct frontage on U.S. Highway 1 at 112 U.S. 1, Tequesta, FL 33469

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$155,081

Cap Rate

4.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,101,620 $3.1M

Cap Rate 7%

$2,215,443 $2.2M

Cap Rate 9%

$1,723,122 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,851 SF

Gross rent

$266.8K $45.60/SF

− Vacancy

−$60.0K −$10.26/SF

EGI

$206.8K $35.34/SF

− OpEx

−$51.7K −$8.84/SF

NOI

$155.1K $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 Rate 5%

$3,101,620

Cap Rate 7%

$2,215,443

Cap Rate 9%

$1,723,122

Alternative Uses

Best Use

Office B

$2.22M

$1.94M – $2.58M (±1% cap)

NOI $155,081 @ 7.0% cap · market cap 4.43%

Second Best

Mixed Use

$1.44M

$1.26M – $1.68M (±1% cap)

NOI $100,930 @ 7.0% cap · market cap 2.88%

Theoretical Best

Office A

$4.12M

$3.61M – $4.81M (±1% cap)

NOI $288,442 @ 7.0% cap · market cap 8.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Parking Lot & Garage Bakery Auto Parts Store Garden Center Daycare Center Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Office units

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,862

Businesses Nearby

Explore this area Business Placement

Demographics for 33469, FL

15,101

Population

8,284

Households

1.8

Avg Household Size

55

Median Age

50%

College-Educated

97%

High-School Grad

10.8 sq mi

ZIP Area

1,398

Density / Sq Mi

$103,489

Median Household Income

$58,016

Median Earnings

$1,786

Median Rent

$552,500

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Frequently Asked Questions

What type of property is this?

Office building - Mixed-use zoning supports office, medical office, and professional service uses at this highway-fronting Tequesta property.

Where is this office building located?

The property is located at 112 U.S 1 Tequesta, FL.

What is the asking price?

The asking price for this property is $3,500,000.

What are key features of this property?

This property features: 5,851‑square‑foot professional office building on approximately 0.72 acres; Three‑suite configuration with an approximately 1,556‑square‑foot owner’s suite; Direct frontage on U.S. Highway 1 at 112 U.S. 1, Tequesta, FL 33469