Building Details

Building Size 10,460 SF

Construction metal

Listing Agency: CBRE | Palm Beach County Show Phone

Listed By: Robert Smith · License #247809 Show Phone

Source: Moodyscre

Added: Nov 7, 2024 Changed: Oct 4 Last Checked: Oct 12 at 9:12PM

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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 CBRE | Palm Beach County

Investment Insights

Based on property information with market context.

This industrial flex property at 1500 53rd St in Mangonia Park, Florida, provides approximately 10,460 SF of building area, including about 1,000 SF of office space. The structure features metal construction with a metal roof system, grade-level loading, and heavy 3-phase power for industrial operations. A fully installed fire sprinkler system is also in place.

The property is zoned IG for industrial use. Its combination of office area, loading access, substantial electrical service, and warehouse-oriented construction supports a range of industrial and flex-space requirements.

Key Highlights

• ±10,460 SF total building size with ±1,000 SF office area
• IG industrial zoning
• Grade‑level loading access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$112,923

Cap Rate

8.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,258,460 $2.3M

Cap Rate 7%

$1,613,186 $1.6M

Cap Rate 9%

$1,254,700 $1.3M

Market Conditions

NOI Build-Up for 10,460 SF

Gross rent

$170.7K $16.32/SF

− Vacancy

−$9.4K −$0.90/SF

EGI

$161.3K $15.42/SF

− OpEx

−$48.4K −$4.63/SF

NOI

$112.9K $10.80/SF

Area

Palm Beach County, FL

Vacancy

5.50%

Lease Rate

$16.32 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,258,460

Cap Rate 7%

$1,613,186

Cap Rate 9%

$1,254,700

Alternative Uses

Best Use

Flex RnD

$3.29M

$2.88M – $3.83M (±1% cap)

NOI $230,078 @ 7.0% cap · market cap 16.43%

Second Best

Warehouse

$1.96M

$1.71M – $2.29M (±1% cap)

NOI $137,121 @ 7.0% cap · market cap 9.79%

Theoretical Best

Office A

$7.37M

$6.45M – $8.59M (±1% cap)

NOI $515,656 @ 7.0% cap · market cap 36.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Cafe & Coffee Shop Veterinary Clinic Locksmith Parking Lot & Garage Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Heavy power

Yes

Sprinkler system

Location Intelligence

Trade Area within ½ mile

1,360

Businesses Nearby

Under-served

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - IG-zoned industrial property with office space, grade-level access, and heavy 3-phase electrical service.

Where is this flex space located?

The property is located at 1500 53rd St Mangonia Park, FL.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: ±10,460 SF total building size with ±1,000 SF office area; IG industrial zoning; Grade‑level loading access