Warehouse Condominium with
For Sale
$450,000
1209 Gateway Road Ste 209, Lake Park, FL 33403
Versatile warehouse unit includes a grade-level overhead door, high clear ceiling, and a renovated second-floor office.
Property Size1,500 SF
Price / SF$300
Days on Market97
Property Features for 1209 Gateway Road Ste 209
General Information
Standard status
Active
Size
1,500 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
19 ft
Drive-In Doors
1
Building Details
Year Built
1982
Stories
2
Listing Agency:
Illustrated Properties LLC (Jupiter)
Listed By:
Chris Twardowski · License #3613217
(561) 626-7000
Source:
Thepennteam
Added: Jul 12
Changed: Oct 12
Last Checked: Oct 7 at 2:03PM
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 (Jupiter)
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This versatile warehouse condominium is designed for practical day-to-day use, with a newly renovated second-floor office and a fully functioning bathroom including a vanity, toilet, and tub/shower combination. The warehouse includes a 12' x 12' grade-level overhead door and a 19-foot clear ceiling height for flexible storage and equipment needs. The air conditioning system was installed less than two years ago and uses a baffle system, allowing cooling for the office and restroom or the entire warehouse as needed. Ring security cameras are installed at the main entrance and inside the unit, and the building exterior was painted a few months ago.
The property is positioned in Lake Park with connectivity to major routes, just minutes from I-95. It is also close to public boat ramps and a mix of nearby retail and service businesses including Home Depot, Publix, and Walmart, as well as restaurants.
The association is responsible for roof repairs, weekly dumpster service, and water. Association dues are $1,452 per quarter. The layout is intended to provide strong vehicle maneuverability, with potential to back straight into the unit from the main road.
The property is positioned in Lake Park with connectivity to major routes, just minutes from I-95. It is also close to public boat ramps and a mix of nearby retail and service businesses including Home Depot, Publix, and Walmart, as well as restaurants.
The association is responsible for roof repairs, weekly dumpster service, and water. Association dues are $1,452 per quarter. The layout is intended to provide strong vehicle maneuverability, with potential to back straight into the unit from the main road.
Key Highlights
- 1982‑built warehouse condominium with 19‑foot clear ceiling height for vertical storage and easy loading access
- Includes a 12' x 12' grade‑level overhead door for straightforward vehicle entry and operations
- Second‑floor office has been newly renovated for a ready‑to‑work professional workspace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,994
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$659,880
$659.9K
Cap Rate 7%
$471,343
$471.3K
Cap Rate 9%
$366,600
$366.6K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$54.0K $36.00/SF
− Vacancy
−$3.2K −$2.16/SF
EGI
$50.8K $33.84/SF
− OpEx
−$17.8K −$11.84/SF
NOI
$33.0K $22.00/SF
Area
Palm Beach County, FL
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$659,880
Cap Rate 7%
$471,343
Cap Rate 9%
$366,600
Alternative Uses
Best Use
Flex RnD
$471.3K
$412.4K – $549.9K
NOI $32,994 @ 7.0% cap · market cap 7.33%
Second Best
Warehouse
$280.9K
$245.8K – $327.7K
NOI $19,664 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$1.06M
$924.3K – $1.23M
NOI $73,947 @ 7.0% cap · market cap 16.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
19 ft
Clear height
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,778
Businesses Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Pure Gold Kombucha — 109 Reed Rd, West Palm Beach, FL 33403
- Simply Delicious Affairs — 1194 Old Dixie Hwy, Lake Park, FL 33403
- Luminous Meals — NA, 1301 10th St, Lake Park, FL 33403
- Cravin Creole — 3450 Northlake Blvd, North Palm Beach, FL 33403
Frequently Asked Questions
What type of property is this?
Flex space - Versatile warehouse unit includes a grade-level overhead door, high clear ceiling, and a renovated second-floor office.
Where is this flex space located?
The property is located at 1209 Gateway Road Ste 209 Lake Park, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1982‑built warehouse condominium with 19‑foot clear ceiling height for vertical storage and easy loading access; Includes a 12' x 12' grade‑level overhead door for straightforward vehicle entry and operations; Second‑floor office has been newly renovated for a ready‑to‑work professional workspace
