Two-Building Flex
For Sale
$2,300,000
1200 Clare Avenue, West Palm Beach, FL 33401
Commercial Sale, West Palm Beach, FL
Property Size2,080 SF
Lot Size0.15 Acres
Price / SF$1,105
Days on Market186
Property Features for 1200 Clare Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I (city)
Parking
10
Subdivision
5430
Standard status
Active
APN
74434328090060300
Size
2,080 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SADLERS BONNYVIEW ADD LTS 30 & 31 LINCOLN
Tax Annual Amount
27617
Legal Description
SADLERS BONNYVIEW ADD LTS 30 & 31 LINCOLN
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Wall Furnace
Cooling system
Central Air, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1987
Floors in Building
2
Number of units
2
Flooring type
Tile, Concrete
Building materials
Block, Concrete, Stucco
Listing Agency:
Douglas Elliman
(561) 655-8600
Listed By:
Gloria Giudici · License #3514951
(561) 801-1535
Added: Mar 11
Changed: Sep 11
Last Checked: Sep 12 at 6:06PM
MLS# B26001285
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.
This freestanding flex property includes two commercial buildings with a combined office, work, storage, loading, and utility configuration. The front building provides first- and second-level office areas, a half bath, full bath, loading area, storage, and utility space. The rear building adds office space, open work areas, storage, a full bath, and an upper-level work or storage area.
The property occupies 0.15 acres in West Palm Beach’s Warehouse District, near Grandview Market and minutes from Downtown West Palm Beach, Palm Beach Island, and I-95. Built in 1987, the buildings feature block, concrete, and stucco construction, with tile and concrete flooring. Public water and sewer serve the property, and zoning is I (city).
The property occupies 0.15 acres in West Palm Beach’s Warehouse District, near Grandview Market and minutes from Downtown West Palm Beach, Palm Beach Island, and I-95. Built in 1987, the buildings feature block, concrete, and stucco construction, with tile and concrete flooring. Public water and sewer serve the property, and zoning is I (city).
Key Highlights
- Two separate commercial buildings with office, work, and storage areas
- Front building includes first- and second‑level offices, loading area, utility space, and bathrooms
- Rear building offers open work areas plus upper‑level storage or work space
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
$72,506
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
3.15%
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%
$1,450,120
$1.5M
Cap Rate 7%
$1,035,800
$1.0M
Cap Rate 9%
$805,622
$805.6K
Market Conditions
NOI Build-Up for 2,080 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
$114.8K $55.20/SF
− Vacancy
−$18.1K −$8.72/SF
EGI
$96.7K $46.48/SF
− OpEx
−$24.2K −$11.62/SF
NOI
$72.5K $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 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%
$1,450,120
Cap Rate 7%
$1,035,800
Cap Rate 9%
$805,622
Alternative Uses
Best Use
Office B
$1.04M
$906.3K – $1.21M
NOI $72,506 @ 7.0% cap · market cap 3.15%
Second Best
Flex RnD
$292.0K
$255.5K – $340.7K
NOI $20,442 @ 7.0% cap · market cap 0.89%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,540 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,120
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- La Bayamesa - Food Truck — 1541 Belvedere Rd, West Palm Beach, FL 33401
- Simply Foods — 1253 Old Okeechobee Rd B9, West Palm Beach, FL 33401
- Christafaro's — 1200 Clare Ave, West Palm Beach, FL 33401
- Orqa Health — 1211 Old Okeechobee Rd, West Palm Beach, FL 33401
- CHEF CESART LLC — 700 S Rosemary Ave Suite 204-188, West Palm Beach, FL 33401
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding commercial asset with office, work, storage, loading, and restroom areas across two separate buildings.
Where is this flex space located?
The property is located at 1200 Clare Avenue West Palm Beach, FL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Two separate commercial buildings with office, work, and storage areas; Front building includes first- and second‑level offices, loading area, utility space, and bathrooms; Rear building offers open work areas plus upper‑level storage or work space
