Fully Leased Office
For Sale
$5,250,000
Pending
307 EVERNIA ST, West Palm Beach, FL 33401
Built in 2007, the property includes an elevator, two stairways, fire protection, and security systems.
Property Size17,708 SF
Days on Market5111
Property Features for 307 EVERNIA ST
General Information
Standard status
Pending
Size
17,708 SF
Elevators
Yes
Property subtype
General Commercial
Occupancy
100%
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$65,000
Amenities
alarm security system
3
100 Parking Spaces.
Building Details
Year Built
2007
Buildings
1
Building Size
17,708 SF
Tenancy
Multi
Listing Agency:
Capital Commercial R.E. Group
(954) 579-9476
Listed By:
M. Sharif Mukati
(954) 579-9476
Source:
Xome
Added: Aug 6, 2012
Changed: Aug 2
Last Checked: Aug 2 at 6:23AM
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 Capital Commercial R.E. Group
Investment Insights
Based on property information with market context.
Located at 307 Evernia St in West Palm Beach, this 17,708-square-foot office building was completed in 2007 and is fully leased. The property includes a major bank branch among its tenants and is supported by an elevator and two stairways for building access.
Building systems include a fire sprinkler installation and an alarm security system. The property also includes 100 parking spaces, with additional parking available next door in the city garage. The office improvements are positioned within a central commercial setting in West Palm Beach, Florida, with the address placing the asset near the city’s established business district.
Building systems include a fire sprinkler installation and an alarm security system. The property also includes 100 parking spaces, with additional parking available next door in the city garage. The office improvements are positioned within a central commercial setting in West Palm Beach, Florida, with the address placing the asset near the city’s established business district.
Key Highlights
- 17,708‑square‑foot office building completed in 2007
- Fully leased, including a major bank branch
- Fire sprinkler system and alarm security system
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $403.7k | $22.80 |
| − Vacancy | −$22.2k | −$1.25 |
| EGI | $381.5k | $21.55 |
| − OpEx | −$95.4k | −$5.39 |
| NOI | $286.2k | $16.16 |
17,708 SF · lease $22.80/SF/yr · vacancy 5.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$8.82M
$7.72M – $10.29M
NOI $617,280 @ 7.0% cap · market cap 11.76%
Second Best
Specialty Retail
$4.09M
$3.58M – $4.77M
NOI $286,152 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$12.47M
$10.91M – $14.55M
NOI $872,968 @ 7.0% cap · market cap 16.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
5,488
Businesses Nearby
Explore this area
Business Placement
Demographics for 33401, FL
31,302
Population
19,051
Households
1.6
Avg Household Size
40
Median Age
42%
College-Educated
89%
High-School Grad
5.1 sq mi
ZIP Area
6,138
Density / Sq Mi
$60,942
Median Household Income
$39,932
Median Earnings
$1,774
Median Rent
$430,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Built in 2007, the property includes an elevator, two stairways, fire protection, and security systems.
Where is this office building located?
The property is located at 307 EVERNIA ST West Palm Beach, FL.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: 17,708‑square‑foot office building completed in 2007; Fully leased, including a major bank branch; Fire sprinkler system and alarm security system
