Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5023 S Dixie Hwy West Palm Beach, FL 33405

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $11,000 /Mo

    Standalone retail building with frontage and parking in prime location.

    Lot size:
    0.13 Acres

    Property Features for 5023 S Dixie Hwy

    General Information

    Lot size
    0.13 Acres

    Building Details

    Year built
    1940

    We can help!

    Listing Contact
    Lauren Thomas
    Lauren Thomas
    Source: Elliman

    Listing Agency: Touchstone Webb Realty Company Listing Agent: Lauren Thomas

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Building in SoSo Corridor

    This is a 1,984 square foot standalone retail building situated on a prime corner location, offering frontage and signage opportunities. The property features an open layout with ceiling heights ranging from 12 feet to 13 feet 5 inches. On-site parking includes 8 surface spaces, supplemented by available street parking. Located in the SoSo Corridor, just south of Southern Boulevard and near Antique Row, the property is also in proximity to Phipps Park and local establishments such as Hive's Pure Location, Field of Greens, and Aioli. It is also near the Georgia Avenue District, with convenient access to the planned Trader Joe's and The Factory development. The location provides convenient access to Downtown West Palm Beach, Palm Beach Island, and Palm Beach International Airport. Permitted uses and a floor plan are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Morning magnolia Cafe & Coffee Shop Norcross Patio LLC Furniture & Home Goods Norcross Boutique Clothing & Fashion Store kooler koozie inc. Furniture & Home Goods

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0555356
    Latitude
    26.6676622

    Nearby Similar for Lease

    • New
      $3,500 /Mo
      2,200 SF

      West Palm Beach Commercial Condo

      2200 sq ft office and warehouse space for rent.
      4401 Annette St, West Palm Beach, FL 33409
      View Details
    • New
      $2,400 /Mo
      1,301 SF

      Industrial Park Flex Space Condo

      1301 SF flex space in West Palm Beach industrial park.
      1000 Stinson Way, West Palm Beach, FL 33411
      View Details
    • $2,400 /Mo
      1,306 SF

      West Palm Beach Warehouse with Office

      Versatile warehouse with office, elevator access, and gated security.
      2755 Vista Pkwy, West Palm Beach, FL 33411
      View Details
    • $1,000 /Mo

      Salon Chairs in Prime Location

      Salon chairs for lease in established West Palm Beach spa.
      120 S Dixie Hwy, West Palm Beach, FL 33401
      View Details
    • $5,766 /Mo
      2,768 SF

      West Palm Beach Commercial Condo

      Commercial condo for rent in central West Palm Beach.
      400 Executive Center Dr, West Palm Beach, FL 33401
      View Details
    • $1,000 /Mo

      Luxury Serviced Offices in Florida

      Class A office suites in Downtown West Palm Beach for rent.
      515 N Flagler Dr, West Palm Beach, FL 33401
      View Details
    • $1,750 /Mo
      750 SF

      Singer Island Office/Retail Space

      Office or retail rental space available on Singer Island, Florida.
      1237 E Blue Heron Blvd, Singer Island, FL 33404
      View Details
    • $45 SF/Yr
      2,675 SF

      West Palm Beach Flex Space

      Freestanding commercial building in a rapidly growing corridor.
      2300 N Dixie Hwy, West Palm Beach, FL 33407
      View Details
    • $40 SF/Yr
      4,789 SF

      West Palm Beach Office Space

      Prime West Palm Beach office space available for rent.
      386-396 Malverne Blvd, West Palm Beach, FL 33405
      View Details
    • $325,000

      Downtown West Palm Beach Office

      Corner office space in iconic downtown West Palm Beach building.
      120 S Olive Ave, West Palm Beach, FL 33401
      View Details
    • $70 SF/Yr

      West Palm Beach Office Suites

      Office suites for lease with panoramic intracoastal views.
      625 N Flagler Dr, West Palm Beach, FL 33401
      View Details
    • $2,400,000
      3,682 SF

      West Palm Beach Retail Center

      Retail strip center with frontage on Dixie Highway.
      3412 S Dixie Hwy, West Palm Beach, FL 33405
      View Details

    FAQs

    What type of property is this?
    Retail space - Standalone retail building with frontage and parking in prime location.
    Where is this retail space located?
    The property is located at 5023 S Dixie Hwy West Palm Beach, FL.
    What is the lease rate?
    The lease rate is $11,000 /Mo.
    What are key features of this property?
    This property features: - Prime corner location with frontage and signage in the desirable SoSo Corridor.; - Standalone 1,984 SF retail building with open layout and high ceilings (12'-13'5'').; - Benefit from 8 on-site surface parking spaces plus street parking.
    (561) 659-5554
    Request Owner's contact information
    5023 S Dixie Hwy West Palm Beach, FL 33405
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5023 S Dixie Hwy
    West Palm Beach, FL 33405
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5023 S Dixie Hwy West Palm Beach, FL 33405
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Lauren Thomas
    Lauren Thomas
    Real Estate License ID: 3379509
    (561) 659-5554 (561) 358-6868
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!