Warehouse Building for
For Sale
$1,250,000
Pending
824 NE 3rd Street, Boynton Beach, FL 33435
Warehouse building available for sale at 824 NE 3rd Street in Boynton Beach, Florida.
Property Size2,760 SF
Days on Market55
Property Features for 824 NE 3rd Street
General Information
Standard status
Pending
Size
2,760 SF
Total Parking Spaces
15
Zoning
C4 (city)
Net Operating Income
$32,615
Taxes and HOA fees
Annual Taxes
$11,362
Building Details
Building Size
2,760 SF
Year Built
1974
Stories
1
Listing Agency:
Serhant
Listed By:
Johannes Bartl · License #B26021774
(561) 772-7325
Source:
Laerrealty
Added: Jul 14
Changed: Aug 24
Last Checked: Aug 23 at 3:37AM
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 Serhant
Investment Insights
Based on property information with market context.
This warehouse building is offered for sale as commercial real estate, with a total property size of 2,760 square feet.
The property is located at 824 NE 3rd Street in Boynton Beach, Florida. It is listed as a warehouse among the available property types, making it suitable for buyers seeking a compact industrial/commercial warehouse footprint.
All information provided is limited to the sale listing and property type/size. Interested parties should verify details related to existing improvements, condition, and layout during due diligence.
The property is located at 824 NE 3rd Street in Boynton Beach, Florida. It is listed as a warehouse among the available property types, making it suitable for buyers seeking a compact industrial/commercial warehouse footprint.
All information provided is limited to the sale listing and property type/size. Interested parties should verify details related to existing improvements, condition, and layout during due diligence.
Key Highlights
- Warehouse building for sale at 824 NE 3rd Street, Boynton Beach, Florida
- Built in 1974
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
$36,181
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
2.89%
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%
$723,620
$723.6K
Cap Rate 7%
$516,871
$516.9K
Cap Rate 9%
$402,011
$402.0K
Market Conditions
NOI Build-Up for 2,760 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
$45.0K $16.32/SF
− Vacancy
−$2.5K −$0.90/SF
EGI
$42.6K $15.42/SF
− OpEx
−$6.4K −$2.31/SF
NOI
$36.2K $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%
$723,620
Cap Rate 7%
$516,871
Cap Rate 9%
$402,011
Alternative Uses
Best Use
Warehouse
$516.9K
$452.3K – $603.0K
NOI $36,181 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.94M
$1.70M – $2.27M
NOI $136,062 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,165
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33435, FL
37,318
Population
20,058
Households
1.9
Avg Household Size
45
Median Age
32%
College-Educated
85%
High-School Grad
6.5 sq mi
ZIP Area
5,741
Density / Sq Mi
$66,612
Median Household Income
$35,488
Median Earnings
$1,846
Median Rent
$306,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse building available for sale at 824 NE 3rd Street in Boynton Beach, Florida.
Where is this warehouse located?
The property is located at 824 NE 3rd Street Boynton Beach, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Warehouse building for sale at 824 NE 3rd Street, Boynton Beach, Florida; Built in 1974
