Listing Agency: Touchstone Webb Realty Company Show Phone

Listed By: Lauren Thomas · License #3379509 Show Phone

Source: Moodyscre

Added: May 19, 2025 Changed: Oct 3 Last Checked: Oct 19 at 6:31AM

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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 Touchstone Webb Realty Company

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Investment Insights

Based on property information with market context.

This commercial property offers 1,200 square feet of office space. Located in North Palm Beach, Florida, the property is situated on US Hwy 1.

Key Highlights

• Office space available.
• Located in North Palm Beach, Florida.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,806

Cap Rate

7.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$636,120 $636.1K

Cap Rate 7%

$454,371 $454.4K

Cap Rate 9%

$353,400 $353.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,200 SF

Gross rent

$54.7K $45.60/SF

− Vacancy

−$12.3K −$10.26/SF

EGI

$42.4K $35.34/SF

− OpEx

−$10.6K −$8.84/SF

NOI

$31.8K $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%

$636,120

Cap Rate 7%

$454,371

Cap Rate 9%

$353,400

Alternative Uses

Best Use

Office B

$454.4K

$397.6K – $530.1K (±1% cap)

NOI $31,806 @ 7.0% cap · market cap 7.96%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$845.1K

$739.5K – $986.0K (±1% cap)

NOI $59,158 @ 7.0% cap · market cap 14.81%

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

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Law Firm Real Estate Agency Hotel & Motel Dental Office Storage Facility (Bike/Boat/Book/etc) Store

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

Location Intelligence

Trade Area within ½ mile

1,763

Businesses Nearby

Explore this area Business Placement

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

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Frequently Asked Questions

What type of property is this?

Office unit - Office space available in North Palm Beach, Florida.

Where is this office unit located?

The property is located at 721 US Hwy 1 North Palm Beach, FL.

What is the asking price?

The asking price for this property is $399,500.

What are key features of this property?

This property features: Office space available.; Located in North Palm Beach, Florida.