Freestanding Office
For Sale
$1,600,000
1402 Royal Palm Beach Boulevard, Royal Palm Beach, FL 33411
Commercial Sale, Royal Palm Beach, FL
Property Size3,864 SF
Lot Size0.02 Acres
Price / SF$414.08
Days on Market251
Property Features for 1402 Royal Palm Beach Boulevard
General Information
Property type
Residential
Property subtype
Office
Zoning
17
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 4, Bathroom 2, Bathroom 1
Security features
Security System
Directions
On Royal Palm Beach Blvd. Just North of Okeechobee Blvd next to McDonalds.
Subdivision
5530
Standard status
Active
APN
72414323160000030
Size
3,864 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Lakeview Center Lot 3
Tax Annual Amount
18081
HOA Fee
$4,748 Annually
Legal Description
Lakeview Center Lot 3
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2000
Floors in Building
1
Number of units
4
Flooring type
Tile - Ceramic, Carpet
Building materials
CBS, Stucco
Roof type
Composition
Listing Agency:
RE/MAX Prestige Realty/RPB · RE/MAX International
(561) 932-0444
Listed By:
Patrick P Kavanagh PA · License #603116
(561) 398-0265
Added: Jan 12
Changed: Sep 13
Last Checked: Sep 20 at 4:06PM
MLS# R11153532
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding office building contains 3,864 square feet on a 0.02-acre lot and was built in 2000. The improvements use CBS and stucco construction, with ceramic tile and carpet flooring, central heating, and central air conditioning. Four new A/C units were installed in 2023, and the composition roof was replaced in 2024. The property also includes four bathrooms, cable availability, public water, and public sewer.
Located at 1402 Royal Palm Beach Boulevard in Royal Palm Beach, the office is near shopping and restaurants. Existing 19-year tenants are in place and will sign a long-term lease for 1/2 of the building. Zoning is identified as 17.
Located at 1402 Royal Palm Beach Boulevard in Royal Palm Beach, the office is near shopping and restaurants. Existing 19-year tenants are in place and will sign a long-term lease for 1/2 of the building. Zoning is identified as 17.
Key Highlights
- 3,864 square feet on a 0.02‑acre lot
- Four new A/C units installed in 2023
- Composition roof replaced in 2024
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
$102,415
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
6.40%
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%
$2,048,300
$2.0M
Cap Rate 7%
$1,463,071
$1.5M
Cap Rate 9%
$1,137,944
$1.1M
Market Conditions
NOI Build-Up for 3,864 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
$176.2K $45.60/SF
− Vacancy
−$39.6K −$10.26/SF
EGI
$136.6K $35.34/SF
− OpEx
−$34.1K −$8.84/SF
NOI
$102.4K $26.51/SF
Area
Palm Beach County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
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%
$2,048,300
Cap Rate 7%
$1,463,071
Cap Rate 9%
$1,137,944
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.71M
NOI $102,415 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.72M
$2.38M – $3.17M
NOI $190,487 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,026
Businesses Nearby
Explore this area
Business Placement
Demographics for 33411, FL
74,206
Population
30,063
Households
2.5
Avg Household Size
42
Median Age
39%
College-Educated
91%
High-School Grad
34.9 sq mi
ZIP Area
2,126
Density / Sq Mi
$89,329
Median Household Income
$46,461
Median Earnings
$1,887
Median Rent
$400,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Updated HVAC and roofing, with shopping and restaurants nearby in Royal Palm Beach.
Where is this office building located?
The property is located at 1402 Royal Palm Beach Boulevard Royal Palm Beach, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 3,864 square feet on a 0.02‑acre lot; Four new A/C units installed in 2023; Composition roof replaced in 2024
