Renovated Flex Showroom with
For Sale
$1,780,000
126-4188 Westroads Dr, Riviera Beach, FL 33407
Adaptable commercial unit combines open showroom space, elevated office amenities, and a dedicated ground-floor service area.
Property Size3,000 SF
Price / SF$593.33
Days on Market169
Property Features for 126-4188 Westroads Dr
General Information
Standard status
Active
Size
3,000 SF
Additional Details
Mezzanine
750 SF
Taxes and HOA fees
Annual Taxes
$7,451
Listing Agency:
Home Deals, LLC
(561) 889-7160
Listed By:
Maribel De La Pena
(561) 714-0700
Source:
Exprealty
Added: Mar 27
Changed: Sep 10
Last Checked: Sep 10 at 3:03PM
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 Home Deals, LLC
Investment Insights
Based on property information with market context.
This 3,000-square-foot flex unit is configured for showroom, office, and service functions. The primary 2,000-square-foot area has an open layout, high-bay ceilings, and finished interiors. A 750-square-foot mezzanine adds a full kitchen, modern bathroom, and glass-enclosed conference area with conference furnishings. The 250-square-foot ground-level service center includes built-in service desks for customer intake, logistics, or counter-based operations.
The property was fully renovated and has most recently operated as the Ferrari A1GP Collection Showroom and the headquarters for Taurino Racing. Its prior automotive-oriented use also included support for performance parts, braking systems, exhaust products, and private-labeling operations. An optional 3-stack vehicle storage rack is available separately for $30,000.
The property was fully renovated and has most recently operated as the Ferrari A1GP Collection Showroom and the headquarters for Taurino Racing. Its prior automotive-oriented use also included support for performance parts, braking systems, exhaust products, and private-labeling operations. An optional 3-stack vehicle storage rack is available separately for $30,000.
Key Highlights
- 3,000‑square‑foot flex unit with 2,000 square feet of open showroom space
- 750‑square‑foot mezzanine with kitchen, bathroom, and glass‑partitioned conference area
- 250‑square‑foot ground‑floor service center with built‑in service desks
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
$65,988
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
3.71%
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%
$1,319,760
$1.3M
Cap Rate 7%
$942,686
$942.7K
Cap Rate 9%
$733,200
$733.2K
Market Conditions
NOI Build-Up for 3,000 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
$108.0K $36.00/SF
− Vacancy
−$6.5K −$2.16/SF
EGI
$101.5K $33.84/SF
− OpEx
−$35.5K −$11.84/SF
NOI
$66.0K $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 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%
$1,319,760
Cap Rate 7%
$942,686
Cap Rate 9%
$733,200
Alternative Uses
Best Use
Flex RnD
$942.7K
$824.9K – $1.10M
NOI $65,988 @ 7.0% cap · market cap 3.71%
Second Best
Retail
$724.7K
$634.1K – $845.5K
NOI $50,728 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,894 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33407, FL
34,558
Population
15,147
Households
2.3
Avg Household Size
35
Median Age
26%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
3,491
Density / Sq Mi
$56,606
Median Household Income
$34,886
Median Earnings
$1,551
Median Rent
$290,500
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?
Flex space - Adaptable commercial unit combines open showroom space, elevated office amenities, and a dedicated ground-floor service area.
Where is this flex space located?
The property is located at 126-4188 Westroads Dr Riviera Beach, FL.
What is the asking price?
The asking price for this property is $1,780,000.
What are key features of this property?
This property features: 3,000‑square‑foot flex unit with 2,000 square feet of open showroom space; 750‑square‑foot mezzanine with kitchen, bathroom, and glass‑partitioned conference area; 250‑square‑foot ground‑floor service center with built‑in service desks
