Renovated Office
11981 Us Highway 1, Juno Beach, FL 33408
For Sale
$4,950,000
Medium Density Multifamily zoning accompanies a layout suited to office, educational, or continued commercial use.
Property Size7,027 SF
Price / SF$704.43
Days on Market150
Property Features for 11981 Us Highway 1
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Additional Details
Condition
Land Use
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
Central air
Aluminum Roof
Central Air Cooling
Free Parking
Heat Pump Heating
Wood Flooring
Building Details
Year Built
Buildings
Building Size
Listing Agency:
Palm Beach Gardens
Listed By:
Christy Sheehan · License #SL3359590
(305) 389-4045
Source:
Corcoran
Added: Jun 12
Changed: Nov 7
Last Checked: Jul 11 at 3:55AM
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 Palm Beach Gardens
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Investment Insights
Based on property information with market context.
The 7,027-SF standalone office property was built in 1993 and has been renovated. Its current configuration includes 28 private offices, 6 bathrooms, multiple flex areas, 3 large open rooms or classrooms, and garage storage with 3 doors. On-site parking is available.
The property occupies over 2 acres in Juno Beach, just north of PGA Blvd and near Seminole Landing. Medium Density Multifamily zoning is identified, and the property is presented for potential multifamily redevelopment as well as medical, professional office, educational, or continued commercial use.
The property occupies over 2 acres in Juno Beach, just north of PGA Blvd and near Seminole Landing. Medium Density Multifamily zoning is identified, and the property is presented for potential multifamily redevelopment as well as medical, professional office, educational, or continued commercial use.
Key Highlights
- 7,027 SF standalone commercial building
- Over 2 acres with Medium Density Multifamily zoning
- 28 private offices and 6 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$186,251
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,725,020
$3.7M
Cap Rate 7%
$2,660,729
$2.7M
Cap Rate 9%
$2,069,456
$2.1M
Market Conditions
NOI Build-Up for 7,027 SF
Gross rent
$320.4K $45.60/SF
− Vacancy
−$72.1K −$10.26/SF
EGI
$248.3K $35.34/SF
− OpEx
−$62.1K −$8.84/SF
NOI
$186.3K $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%
$3,725,020
Cap Rate 7%
$2,660,729
Cap Rate 9%
$2,069,456
Alternative Uses
Best Use
Office B
$2.66M
$2.33M – $3.10M
NOI $186,251 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.95M
$4.33M – $5.77M
NOI $346,416 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 33408, FL
18,965
Population
13,490
Households
1.4
Avg Household Size
58
Median Age
52%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
2,789
Density / Sq Mi
$91,390
Median Household Income
$65,606
Median Earnings
$1,885
Median Rent
$502,900
Median Home Value
Market
Average Price Trend$/SF for Office buildings in Palm Beach County, FL
Properties on Market for Office buildings in Palm Beach County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Medium Density Multifamily zoning accompanies a layout suited to office, educational, or continued commercial use.
Where is this office building located?
The property is located at 11981 Us Highway 1 Juno Beach, FL.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 7,027 SF standalone commercial building; Over 2 acres with Medium Density Multifamily zoning; 28 private offices and 6 bathrooms
