Add Listing
    For Sale
    • 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

    5509 Broadway West Palm Beach, FL 33407

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    $1,500,000

    Two adjacent commercial properties in West Palm Beach for sale.

    Lot size:
    0.52 Acres

    Property Features for 5509 Broadway

    General Information

    Property type
    Commercial
    Standard status
    Contract
    Lot size
    0.52 Acres

    Building Details

    Year built
    1948

    We can help!

    Listing Contact
    Karen Lewis
    Source: Elliman

    Listing Agent: Karen Lewis

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

    Learn more

    Overview

    West Palm Beach Investment Opportunity

    Located in West Palm Beach, this offering presents an investment opportunity consisting of two adjacent commercial properties at 5509 & 5501 Broadway. The properties, identified by Folio Numbers 74434304080620050 and 74434304080620010, are being sold together. The combined building area is approximately 5,147 square feet, situated on a total land area of 22,812 square feet, which is approximately 0.53 acres. The properties are positioned along Broadway Avenue, a high-traffic thoroughfare, providing visibility and accessibility. The location is minutes from Downtown West Palm Beach, the Northwood Historic District, and I-95. The properties are suitable for retail, office, medical, professional, or redevelopment purposes, offering potential for investors, developers, or owner-users seeking a mixed-use opportunity in a growing commercial corridor.
    Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

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

    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
    -80.0557145
    Latitude
    26.7600073

    Nearby Similar for Sale

    • $975,000
      Pending

      West Palm Beach Commercial Property

      Commercial property in high-traffic area on Military Trail.
      1500 S Military Trl, West Palm Beach, FL 33415
      View Details
    • $975,000
      Pending

      West Palm Beach Commercial Property

      Commercial property with frontage on Military Trail in West Palm.
      1500 S Military Trl, West Palm Beach, FL 33415
      View Details
    • $20,000,000
      5,452 SF

      West Palm Beach Redevelopment Portfolio

      Prime downtown West Palm Beach redevelopment opportunity with air rights.
      401 N Rosemary Ave, West Palm Beach, FL 33401
      View Details
    • $1,150,000
      3,500 SF

      Versatile Industrial Condo with Office

      2,500 SF ground floor plus 1,000 SF mezzanine.
      5401 N Haverhill Rd, West Palm Beach, FL 33407
      View Details
    • $34,500

      Turnkey Nail Salon Asset Sale

      Ready-to-operate nail salon with equipment, furniture, and fixtures included.
      740 S Military Trl, West Palm Beach, FL 33415
      View Details
    • $439,000
      1,610 SF

      West Palm Beach Duplex

      Vacant duplex with impact windows and new roof.
      1133 W 28Th St, West Palm Beach, FL 33404
      View Details
    • $1,395,000
      2,420 SF

      West Palm Beach Industrial Building

      2420 SF industrial building suitable for automotive or warehouse use.
      1420 Forsythe Rd, West Palm Beach, FL 33405
      View Details
    • $950,000
      2,816 SF

      West Palm Beach Fourplex

      Turnkey fourplex near downtown West Palm Beach with stable rental revenue.
      736 Omar Rd, West Palm Beach, FL 33405
      View Details
    • $3,600,000
      9,828 SF

      Singer Island Quadplex Investment Opportunity

      Turnkey quadplex near beach with strong rental income potential.
      1100 Cabana Rd, West Palm Beach, FL 33404
      View Details
    • $82,900
      8,700 SF

      Thriving Business on Military Trail

      Ship and pack business with growth potential on busy Military Trail.
      770 S Military 1 Trl, West Palm Beach, FL 33415
      View Details
    • $1,175,000
      2,586 SF

      West Palm Beach Quadplex Opportunity

      Fully rented, renovated quadplex in West Palm Beach.
      3808 Broadway, West Palm Beach, FL 33407
      View Details
    • Contact for pricing

      Bridal Salon Asset Sale

      Bridal and occasion wear salon inventory and equipment for sale.
      Bridal Shop Inventory, West Palm Beach, FL 33415
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Two adjacent commercial properties in West Palm Beach for sale.
    Where is this mixed-use property located?
    The property is located at 5509 Broadway West Palm Beach, FL.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: - Two adjacent commercial properties being sold together, offering a combined 5,147 sq. ft. building area and 22,812 sq. ft. land size.; - Located on high-traffic Broadway Avenue with **excellent visibility and accessibility**.; - Strategically located minutes from Downtown West Palm Beach, the Northwood Historic District, and I-95.
    (305) 323-1556
    Request Owner's contact information
    5509 Broadway West Palm Beach, FL 33407
    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.
    5509 Broadway
    West Palm Beach, FL 33407
    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
    5509 Broadway West Palm Beach, FL 33407
    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
    Karen Lewis
    (305) 323-1556 (954) 613-7131 (954) 248-9149
    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!