Two-Story Industrial
For Sale
Contact for pricing
1500 Nw Park Ridge Blvd, Boynton Beach, FL 33426
Two-story industrial warehouse on 3.74 acres, built in 1962 and offered for sale as a single unit.
Property Size63,663 SF
Lot Size3.74 Acres
Price / SF$184.57
Days on Market63
Property Features for 1500 Nw Park Ridge Blvd
General Information
Standard status
Active
Size
63,663 SF
Lot size
3.74 Acres
Property subtype
INDUSTRIAL
Building Details
Year Built
1962
Stories
2
Listing Agency:
Douglas Elliman
Listed By:
Shannon Ramirez · License #3631203
(561) 719-9868
Source:
Moodyscre
Added: Jul 20
Changed: Sep 17
Last Checked: Sep 20 at 11:07AM
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 Douglas Elliman
Investment Insights
Based on property information with market context.
This two-story industrial warehouse totals 63,663 square feet and is offered for sale as one unit. The building was constructed in 1962 and sits on a 3.74-acre lot.
The property is located at 1500 NW Park Ridge Blvd in Boynton Beach, Florida. Public remarks also indicate monthly tax of $14,724.
With a compact configuration of one rentable unit across two levels, the building may appeal to industrial users seeking a single, contiguous facility within a defined parcel size.
The property is located at 1500 NW Park Ridge Blvd in Boynton Beach, Florida. Public remarks also indicate monthly tax of $14,724.
With a compact configuration of one rentable unit across two levels, the building may appeal to industrial users seeking a single, contiguous facility within a defined parcel size.
Key Highlights
- Two‑story industrial warehouse on 3.74 private acres
- Total building size: 63,663 SF
- Built in 1962
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
$834,561
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
7.10%
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%
$16,691,220
$16.7M
Cap Rate 7%
$11,922,300
$11.9M
Cap Rate 9%
$9,272,900
$9.3M
Market Conditions
NOI Build-Up for 63,663 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
$1.04M $16.32/SF
− Vacancy
−$57.1K −$0.90/SF
EGI
$981.8K $15.42/SF
− OpEx
−$147.3K −$2.31/SF
NOI
$834.6K $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%
$16,691,220
Cap Rate 7%
$11,922,300
Cap Rate 9%
$9,272,900
Alternative Uses
Best Use
Warehouse
$11.92M
$10.43M – $13.91M
NOI $834,561 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$44.84M
$39.23M – $52.31M
NOI $3,138,453 @ 7.0% cap · market cap 26.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
866
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33426, FL
25,155
Population
12,500
Households
2
Avg Household Size
43
Median Age
32%
College-Educated
91%
High-School Grad
6.1 sq mi
ZIP Area
4,124
Density / Sq Mi
$76,328
Median Household Income
$43,992
Median Earnings
$1,981
Median Rent
$298,500
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?
Warehouse - Two-story industrial warehouse on 3.74 acres, built in 1962 and offered for sale as a single unit.
Where is this warehouse located?
The property is located at 1500 Nw Park Ridge Blvd Boynton Beach, FL.
What is the asking price?
The asking price for this property is $11,750,000.
What are key features of this property?
This property features: Two‑story industrial warehouse on 3.74 private acres; Total building size: 63,663 SF; Built in 1962
