Historic Office
120 S Olive Avenue, West Palm Beach, FL 33401
For Sale
$489,000
Commercial Sale, West Palm Beach, FL
Property Size1,015 SF
Price / SF$481.77
Days on Market144
Property Features for 120 S Olive Avenue
General Information
Property type
Property subtype
Zoning
Directions
Subdivision
Standard status
APN
Size
Additional Details
Property Use
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
HOA Fee
Legal Description
Utilities
Sewer type
Cooling system
Water source
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Higher Standards Real Estate
(561) 855-8449
Listed By:
Christine Velez · License FL #674035
(561) 310-3048
Added: Jun 19
Changed: Nov 5
Last Checked: Nov 9 at 7:06PM
MLS# B26043065
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.
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Investment Insights
Based on property information with market context.
This 1,015-square-foot office condominium occupies the Guaranty Building, a historically significant commercial property with distinctive architectural character. The suite was renovated within the past five years and includes a new HVAC system, central air, vinyl and laminate flooring, CBS construction, and a built-up roof. Public water and public sewer serve the property, which carries CWD-CD (city) zoning.
The office is positioned in downtown West Palm Beach with walking access to the waterfront, restaurants, shopping, entertainment, and cultural attractions. Brightline, Tri-Rail, and I-95 are nearby, while Palm Beach International Airport is approximately a 10-minute drive away. The space can support an owner-user office or professional headquarters within a recognizable historic setting.
The office is positioned in downtown West Palm Beach with walking access to the waterfront, restaurants, shopping, entertainment, and cultural attractions. Brightline, Tri-Rail, and I-95 are nearby, while Palm Beach International Airport is approximately a 10-minute drive away. The space can support an owner-user office or professional headquarters within a recognizable historic setting.
Key Highlights
- 1,015‑square‑foot commercial office condominium
- Renovated within the past five years with a new HVAC system
- Located in the historic Guaranty Building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,382
Cap Rate
7.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,640
$707.6K
Cap Rate 7%
$505,457
$505.5K
Cap Rate 9%
$393,133
$393.1K
Market Conditions
NOI Build-Up for 1,015 SF
Gross rent
$56.0K $55.20/SF
− Vacancy
−$8.9K −$8.72/SF
EGI
$47.2K $46.48/SF
− OpEx
−$11.8K −$11.62/SF
NOI
$35.4K $34.86/SF
Area
West Palm Beach, FL
Vacancy
15.80%
Lease Rate
$55.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,640
Cap Rate 7%
$505,457
Cap Rate 9%
$393,133
Alternative Uses
Best Use
Office B
$505.5K
$442.3K – $589.7K
NOI $35,382 @ 7.0% cap · market cap 7.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$714.8K
$625.5K – $834.0K
NOI $50,037 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,624
Businesses Nearby
Explore this area
Business Placement
Demographics for 33401, FL
31,302
Population
19,051
Households
1.6
Avg Household Size
40
Median Age
42%
College-Educated
89%
High-School Grad
5.1 sq mi
ZIP Area
6,138
Density / Sq Mi
$60,942
Median Household Income
$39,932
Median Earnings
$1,774
Median Rent
$430,900
Median Home Value
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Market
Average Price Trend$/SF for Office Units in West Palm Beach, FL
Properties on Market for Office Units in West Palm Beach
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Renovated commercial office condominium with central air, public utilities, and a downtown setting near waterfront amenities.
Where is this office unit located?
The property is located at 120 S Olive Avenue West Palm Beach, FL.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: 1,015‑square‑foot commercial office condominium; Renovated within the past five years with a new HVAC system; Located in the historic Guaranty Building
