Flex Space with Office
For Sale
$670,000
2423 QUANTUM Boulevard, Boynton Beach, FL 33426
Office and warehouse configuration with full air conditioning and rear loading access.
Property Size1,677 SF
Price / SF$399.52
Days on Market834
Property Features for 2423 QUANTUM Boulevard
General Information
Standard status
Active
Size
1,677 SF
Property subtype
General Commercial
Warehouse & Industrial
Clear Height
16 ft
Office Build-Out
1,100 SF
Loading
Rear Load
Conditioned Warehouse
Yes
Taxes and HOA fees
Annual Taxes
$6,152
Amenities
Wired for phone and T-1 systems
3
1,677
Building Details
Year Built
2003
Stories
1
Listing Agency:
Home & Business Partners, LLC
(561) 480-0023
Listed By:
Cheryl Spearling
(561) 480-0023
Source:
Xome
Added: May 20, 2024
Changed: Aug 30
Last Checked: Aug 30 at 2:26PM
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 Home & Business Partners, LLC
Investment Insights
Based on property information with market context.
This flex-space bay contains 1,677 SF, including 1,100 SF of fully built-out office area and warehouse space with a 16-foot ceiling. The office portion features Pergo flooring, chair rail, phone and T-1 wiring, and complete air conditioning. A 10' x 12' rear-loading overhead door supports warehouse access and functionality.
The property is located in West Quantum Plaza at 2423 Quantum Boulevard in Boynton Beach, Florida. Built in 2003, the building combines finished office accommodation with a dedicated warehouse component in a commercial plaza setting.
The property is located in West Quantum Plaza at 2423 Quantum Boulevard in Boynton Beach, Florida. Built in 2003, the building combines finished office accommodation with a dedicated warehouse component in a commercial plaza setting.
Key Highlights
- 1,677 SF flex‑space bay with 1,100 SF of fully built‑out office area
- Warehouse ceiling height of 16 feet
- 10' x 12' rear‑loading overhead door
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
$44,449
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
6.63%
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%
$888,980
$889.0K
Cap Rate 7%
$634,986
$635.0K
Cap Rate 9%
$493,878
$493.9K
Market Conditions
NOI Build-Up for 1,677 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
$76.5K $45.60/SF
− Vacancy
−$17.2K −$10.26/SF
EGI
$59.3K $35.34/SF
− OpEx
−$14.8K −$8.84/SF
NOI
$44.4K $26.51/SF
Area
Palm Beach County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$888,980
Cap Rate 7%
$634,986
Cap Rate 9%
$493,878
Alternative Uses
Best Use
Office B
$635.0K
$555.6K – $740.8K
NOI $44,449 @ 7.0% cap · market cap 6.63%
Second Best
Flex RnD
$527.0K
$461.1K – $614.8K
NOI $36,887 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,673 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Location Intelligence
Trade Area within ½ mile
1,446
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse configuration with full air conditioning and rear loading access.
Where is this flex space located?
The property is located at 2423 QUANTUM Boulevard Boynton Beach, FL.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: 1,677 SF flex‑space bay with 1,100 SF of fully built‑out office area; Warehouse ceiling height of 16 feet; 10' x 12' rear‑loading overhead door
