Grocery Store with Front
For Sale
$1,300,000
2393 N Military Trl, West Palm Beach, FL 33409
Commercial building near Palm Beach International Airport with customer parking positioned at the front.
Property Size3,146 SF
Price / SF$413.22
Days on Market22
Property Features for 2393 N Military Trl
General Information
Standard status
Active
Size
3,146 SF
Building Details
Year Built
1963
Listing Agency:
United Realty Group Inc
(954) 732-4283
Listed By:
Tamara Starcher · License #3426906
Source:
Thepennteam
Added: Aug 8
Changed: Aug 28
Last Checked: Aug 28 at 2:49PM
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
Investment Insights
Based on property information with market context.
This grocery and convenience store property contains 3,146 square feet and was constructed in 1963. The building has parking directly in front, providing on-site vehicle access for customers and visitors. A 2024 roof replacement is also reported.
The property is located near Palm Beach International Airport on N Military Trl. Its established building footprint and front parking configuration provide the key physical features identified for the asset.
The property is located near Palm Beach International Airport on N Military Trl. Its established building footprint and front parking configuration provide the key physical features identified for the asset.
Key Highlights
- 3,146‑square‑foot grocery and convenience store property
- Parking located directly in front of the building
- 2024 roof
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
$50,838
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
3.91%
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%
$1,016,760
$1.0M
Cap Rate 7%
$726,257
$726.3K
Cap Rate 9%
$564,867
$564.9K
Market Conditions
NOI Build-Up for 3,146 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
$71.7K $22.80/SF
− Vacancy
−$3.9K −$1.25/SF
EGI
$67.8K $21.55/SF
− OpEx
−$16.9K −$5.39/SF
NOI
$50.8K $16.16/SF
Area
West Palm Beach, FL
Vacancy
5.50%
Lease Rate
$22.80 /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%
$1,016,760
Cap Rate 7%
$726,257
Cap Rate 9%
$564,867
Alternative Uses
Best Use
Specialty Retail
$726.3K
$635.5K – $847.3K
NOI $50,838 @ 7.0% cap · market cap 3.91%
Second Best
Retail
$635.4K
$556.0K – $741.3K
NOI $44,476 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$2.22M
$1.94M – $2.58M
NOI $155,091 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,872
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33409, FL
33,061
Population
13,715
Households
2.4
Avg Household Size
34
Median Age
27%
College-Educated
80%
High-School Grad
6.3 sq mi
ZIP Area
5,248
Density / Sq Mi
$65,206
Median Household Income
$34,994
Median Earnings
$1,633
Median Rent
$282,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Tapatia Supermarket - Westgate Ave — 3819 Westgate Ave, West Palm Beach, FL 33409
- Brothers Farmers Market — 1937 N Military Trl J, West Palm Beach, FL 33409
- Okeechobee Prime Meat Market — 1959 Wabasso Dr, West Palm Beach, FL 33409
- Euro Market — 4603 Okeechobee Blvd #120, West Palm Beach, FL 33417
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Commercial building near Palm Beach International Airport with customer parking positioned at the front.
Where is this grocery and convenience store located?
The property is located at 2393 N Military Trl West Palm Beach, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 3,146‑square‑foot grocery and convenience store property; Parking located directly in front of the building; 2024 roof
