New Single-Tenant
For Sale
$5,450,000
15783 Walgreens Dr, Jupiter, FL 33478
Newly built industrial facility with a net lease, loading access, EV charging infrastructure, and an established logistics setting.
Property Size16,175 SF
Lot Size1.00 Acre
Price / SF$336.94
Days on Market49
Property Features for 15783 Walgreens Dr
General Information
Standard status
Active
Size
16,175 SF
Total Parking Spaces
21
Lot size
1.00 Acre
Property subtype
Single-Tenant Industrial
Occupancy
100%
Net Operating Income
$299,885
Financials
Asking Price
$5,450,000
Cap Rate
5.5%
Warehouse & Industrial
Clear Height
26 ft
Dock-High Doors
1
Drive-In Doors
1
Amenities
EV charging infrastructure
Brand-New, Built-To-Suit With Long-Term Net Lease In Place
Contractual, Fixed-Rate Rent Growth Through 2040
True Net Lease Structure
Functional, Distribution-Ready Building
Positioned Among Institutional-Caliber Neighbors In Palm Beach Park of Commerce
Located In The Supply-Constrained Palm Beach County Industrial Market
Building Details
Building Size
16,175 SF
Year Built
2025
Buildings
1
Tenancy
Single
Listing Agency:
Fort Lauderdale Office
Listed By:
Doug Mandel · License #License(s): FL: SL3090637
(954) 245-3465
Source:
Marcusmillichap
Added: Sep 18
Changed: Oct 26
Last Checked: Nov 4 at 9:35AM
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 Fort Lauderdale Office
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Completed in 2025, this 16,175-square-foot industrial warehouse occupies an approximately 1.0-acre parcel and is fully leased to Revival Animal Health, LLC, operating under the PetStore Direct brand. The single-tenant building includes 2 loading bays—1 dock-high and 1 drive-in—along with 21 parking spaces, approximately 26-foot clear heights, and EV charging infrastructure.
The net lease commenced June 1, 2025, and runs through May 31, 2035, with one 5-year renewal option and fixed 3% annual rent escalations during both the initial term and option period. The tenant is responsible for utilities, trash removal, and maintenance and repair obligations, subject to landlord caps on capital items. The property is located within an established industrial park alongside a major Amazon distribution facility and other logistics and light-industrial users.
The net lease commenced June 1, 2025, and runs through May 31, 2035, with one 5-year renewal option and fixed 3% annual rent escalations during both the initial term and option period. The tenant is responsible for utilities, trash removal, and maintenance and repair obligations, subject to landlord caps on capital items. The property is located within an established industrial park alongside a major Amazon distribution facility and other logistics and light-industrial users.
Key Highlights
- Newly constructed in 2025 with 16,175 square feet on an approximately ±1.0‑acre parcel
- 100% leased to Revival Animal Health, LLC under the PetStore Direct brand
- 10‑year net lease runs from June 1, 2025 through May 31, 2035
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$212,039
Cap Rate
3.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,240,780
$4.2M
Cap Rate 7%
$3,029,129
$3.0M
Cap Rate 9%
$2,355,989
$2.4M
Market Conditions
NOI Build-Up for 16,175 SF
Gross rent
$264.0K $16.32/SF
− Vacancy
−$14.5K −$0.90/SF
EGI
$249.5K $15.42/SF
− OpEx
−$37.4K −$2.31/SF
NOI
$212.0K $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 Rate 5%
$4,240,780
Cap Rate 7%
$3,029,129
Cap Rate 9%
$2,355,989
Alternative Uses
Best Use
Warehouse
$3.03M
$2.65M – $3.53M
NOI $212,039 @ 7.0% cap · market cap 3.89%
Second Best
Industrial
$2.49M
$2.18M – $2.91M
NOI $174,620 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$11.39M
$9.97M – $13.29M
NOI $797,394 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
26 ft
Clear height
1
Dock-high doors
1
Drive-in doors
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33478, FL
14,740
Population
5,771
Households
2.6
Avg Household Size
47
Median Age
47%
College-Educated
96%
High-School Grad
64.6 sq mi
ZIP Area
228
Density / Sq Mi
$142,109
Median Household Income
$57,688
Median Earnings
$2,701
Median Rent
$653,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Warehouse - Newly built industrial facility with a net lease, loading access, EV charging infrastructure, and an established logistics setting.
Where is this warehouse located?
The property is located at 15783 Walgreens Dr Jupiter, FL.
What is the asking price?
The asking price for this property is $5,450,000.
What are key features of this property?
This property features: Newly constructed in 2025 with 16,175 square feet on an approximately ±1.0‑acre parcel; 100% leased to Revival Animal Health, LLC under the PetStore Direct brand; 10‑year net lease runs from June 1, 2025 through May 31, 2035
