Warehouse Unit with
For Sale
$480,000
1209 Gateway Road Unit 207, Lake Park, FL 33403
Warehouse unit with restroom, loft storage, dedicated parking, and overhead access for flexible commercial use.
Property Size1,078 SF
Price / SF$445.27
Days on Market185
Property Features for 1209 Gateway Road Unit 207
General Information
Standard status
Active
Size
1,078 SF
Property subtype
Commercial Sale / Mixed Use
Taxes and HOA fees
Annual Taxes
$4,150
Amenities
Exhaust Fan
Concrete
1
12+'
10
Block, CBS, Concrete, Pre-Fab Construction
Ceiling Height Varies, Exposed
19
Composition
Flex, Industrial, Office, Warehouse
Overhead Door(s), Private Restroom(s), Storage
No
Security System, None
Building Details
Year Built
1982
Stories
1
Listing Agency:
Illustrated Properties LLC (Co
(561) 568-8089
Listed By:
Chris Twardowski · License #3613217
(561) 568-8089
Source:
Compass
Added: Feb 26
Changed: Aug 29
Last Checked: Aug 29 at 1:58PM
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 Illustrated Properties LLC (Co
Investment Insights
Based on property information with market context.
This warehouse unit provides a practical commercial configuration with an overhead door, private restroom with shower, loft reached by stairs, exposed concrete construction, and a Twin-T concrete roof. The space does not have air conditioning and includes two dedicated parking spaces. An auto-dealers license is permitted for the unit.
The property is located at 1209 Gateway Road, Unit 207, in Lake Park, with access approximately 5 minutes from I-95 via Northlake Boulevard and 10 minutes from Riviera Beach boat ramps. The association maintains the exterior, provides water service, and covers exterior insurance. The building was constructed in 1982 and is scheduled for exterior painting.
The property is located at 1209 Gateway Road, Unit 207, in Lake Park, with access approximately 5 minutes from I-95 via Northlake Boulevard and 10 minutes from Riviera Beach boat ramps. The association maintains the exterior, provides water service, and covers exterior insurance. The building was constructed in 1982 and is scheduled for exterior painting.
Key Highlights
- Warehouse unit at 1209 Gateway Road, Unit 207, Lake Park, FL 33403
- Private restroom with shower and loft accessed by stairs
- Two dedicated parking spaces
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
$14,132
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
2.94%
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%
$282,640
$282.6K
Cap Rate 7%
$201,886
$201.9K
Cap Rate 9%
$157,022
$157.0K
Market Conditions
NOI Build-Up for 1,078 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
$17.6K $16.32/SF
− Vacancy
−$968 −$0.90/SF
EGI
$16.6K $15.42/SF
− OpEx
−$2.5K −$2.31/SF
NOI
$14.1K $13.11/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
15.00%
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%
$282,640
Cap Rate 7%
$201,886
Cap Rate 9%
$157,022
Alternative Uses
Best Use
Warehouse
$201.9K
$176.7K – $235.5K
NOI $14,132 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$759.2K
$664.3K – $885.7K
NOI $53,143 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,778
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33403, FL
13,779
Population
5,906
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
3.3 sq mi
ZIP Area
4,175
Density / Sq Mi
$69,050
Median Household Income
$34,019
Median Earnings
$1,426
Median Rent
$340,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse unit with restroom, loft storage, dedicated parking, and overhead access for flexible commercial use.
Where is this warehouse located?
The property is located at 1209 Gateway Road Unit 207 Lake Park, FL.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Warehouse unit at 1209 Gateway Road, Unit 207, Lake Park, FL 33403; Private restroom with shower and loft accessed by stairs; Two dedicated parking spaces
