Lake Park Industrial Property For
For Sale
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210 Newman Road, Lake Park, FL 33403
20,750 SF industrial property with air-conditioned space.
Property Size20,750 SF
Lot Size1.22 Acres
Price / SF$240.96
Days on Market110
Property Features for 210 Newman Road
General Information
Standard status
Active
Size
20,750 SF
Total Parking Spaces
28
Lot size
1.22 Acres
Property subtype
Industrial
Zoning
CLIC
Building Details
Year Built
1976
Listing Agency:
JLL
Listed By:
Robert Foster · License #BK3347923
Source:
Crexi
Added: May 12
Changed: Aug 14
Last Checked: Aug 28 at 9:43PM
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 JLL
Investment Insights
Based on property information with market context.
The industrial property, located at 210 Newman Road in Lake Park, FL, features 20,750 square feet of fully air-conditioned space situated on 1.22 acres. The property incorporates 2,600 square feet of office space. Ceiling heights range from 19'9" to 20'4". Loading and unloading operations are facilitated by 2 loading docks and 2 drive-in doors. The site provides 28 parking spaces and includes outdoor storage capabilities. Heavy power is available.
Key Highlights
- 20,750 SF of 100% air‑conditioned industrial space.
- Includes 2,600 SF of office space.
- Features 2 loading docks and 2 drive‑in doors.
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
$456,417
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
9.13%
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%
$9,128,340
$9.1M
Cap Rate 7%
$6,520,243
$6.5M
Cap Rate 9%
$5,071,300
$5.1M
Market Conditions
NOI Build-Up for 20,750 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
$747.0K $36.00/SF
− Vacancy
−$44.8K −$2.16/SF
EGI
$702.2K $33.84/SF
− OpEx
−$245.8K −$11.84/SF
NOI
$456.4K $22.00/SF
Area
Palm Beach County, FL
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
35.00%
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%
$9,128,340
Cap Rate 7%
$6,520,243
Cap Rate 9%
$5,071,300
Alternative Uses
Best Use
Flex RnD
$6.52M
$5.71M – $7.61M
NOI $456,417 @ 7.0% cap · market cap 9.13%
Second Best
Industrial
$3.20M
$2.80M – $3.73M
NOI $224,010 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$14.61M
$12.79M – $17.05M
NOI $1,022,932 @ 7.0% cap · market cap 20.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
854
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33403, FL
13,779
Population
5,906
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
3.3 sq mi
ZIP Area
4,175
Density / Sq Mi
$69,050
Median Household Income
$34,019
Median Earnings
$1,426
Median Rent
$340,100
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?
Flex space - 20,750 SF industrial property with air-conditioned space.
Where is this flex space located?
The property is located at 210 Newman Road Lake Park, FL.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 20,750 SF of 100% air‑conditioned industrial space.; Includes 2,600 SF of office space.; Features **2 loading docks and 2 drive‑in doors.**
