Building Details

Year Built 1958

Listing Agency: United Realty Group, Inc p***@urgfl.com Show Phone

Listed By: Catherine A Parenti · License #3232957 Show Phone

Source: Lehmannflorida

Added: Jul 22 Changed: Oct 25 Last Checked: Oct 24 at 5:30PM

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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 United Realty Group, Inc

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Investment Insights

Based on property information with market context.

This commercial building is being offered for sale, and the property remarks also describe it as available for lease. The building offers approximately 1,800 square feet of retail space on about 0.43 acres, with ample parking for customer or client use.

Public remarks note past uses including a grocery store and medical equipment, which may be helpful for retailers or service providers looking for an existing commercial layout. The property is located at 190 US Highway 27 N in South Bay, Florida.

Key Highlights

• Commercial building offered for lease with 1,800 SF
• 0.43‑acre site with ample parking
• Past uses include a grocery store and medical equipment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,437

Suggested Prices Based on Cap Rates

Cap Rate 5%

$608,740 $608.7K

Cap Rate 7%

$434,814 $434.8K

Cap Rate 9%

$338,189 $338.2K

What to ask about pricing

Market Conditions

NOI Build-Up for 1,800 SF

Gross rent

$47.5K $26.40/SF

− Vacancy

−$4.0K −$2.24/SF

EGI

$43.5K $24.16/SF

− OpEx

−$13.0K −$7.25/SF

NOI

$30.4K $16.91/SF

Area

Palm Beach County, FL

Vacancy

8.50%

Lease Rate

$26.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$608,740

Cap Rate 7%

$434,814

Cap Rate 9%

$338,189

Alternative Uses

Best Use

Specialty Retail

$495.0K

$433.2K – $577.5K (±1% cap)

NOI $34,652 @ 7.0% cap · market cap 495.03%

Second Best

Retail

$434.8K

$380.5K – $507.3K (±1% cap)

NOI $30,437 @ 7.0% cap · market cap 434.81%

Theoretical Best

Office A

$1.27M

$1.11M – $1.48M (±1% cap)

NOI $88,736 @ 7.0% cap · market cap 1,267.66%

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

Charley Biggs Restaurant United States Postal ... Post Office

Suggested Use

Top Pick Dental Office Hair Salon Storage Facility Building Supply Parking Lot & Garage Kitchen & Bath Showroom

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

Location Intelligence

Trade Area within ½ mile

181

Businesses Nearby

13k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Marathon Shops & Services

7,620 visits/mo 0.2 miles

Dollar General Shops & Services

5,145 visits/mo 0.2 miles

U-Haul Shops & Services

357 visits/mo 0.1 miles

Demographics for 33493, FL

5,129

Population

907

Households

5.7

Avg Household Size

37

Median Age

8%

College-Educated

58%

High-School Grad

244.2 sq mi

ZIP Area

21

Density / Sq Mi

$52,404

Median Household Income

$23,815

Median Earnings

$1,067

Median Rent

$121,100

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Similar For Sale Nearby

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Mixed-Use Property with Laundromat

103 NW 10th Ave, South Bay, FL 33493

$250,000

2,368 SF

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Pallet Manufacturing Facility

South Bay, FL 33493

$3,500,000

6.90 Acres

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Offered for sale retail building with ample parking; past uses include grocery store and medical equipment.

Where is this grocery and convenience store located?

The property is located at 190 US HIGHWAY 27 N South Bay, FL.

What are key features of this property?

This property features: Commercial building offered for lease with 1,800 SF; 0.43‑acre site with ample parking; Past uses include a grocery store and medical equipment