Industrial Warehouse Condo with
For Sale
$475,000
2755 Vista Pkwy I3, West Palm Beach, FL 33411
Functional warehouse and office setup with 22-foot clear height and dedicated office access for a variety of light industrial uses.
Property Size1,300 SF
Price / SF$365.38
Days on Market51
Property Features for 2755 Vista Pkwy I3
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
22 ft
Drive-In Doors
1
Building Details
Year Built
2005
Listing Agency:
Compass Florida LLC
(954) 614-4112
Listed By:
Donald Colonello · License #3257540
(954) 614-4112
Source:
Elliman
Added: Jun 17
Changed: Jul 10
Last Checked: Aug 6 at 3:29AM
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 Compass Florida LLC
Investment Insights
Based on property information with market context.
This for-sale industrial warehouse condominium offers a functional combination of warehouse and office space. The rear warehouse/storage area includes an impressive 22-foot clear height and a high-bay garage door designed to support storage of equipment, inventory, and other operational needs. Office space is split across two levels and connected by an interior spiral staircase, with the second-floor office featuring a private bathroom and kitchenette. A separate exterior entrance to the upper office level via staircase provides flexibility for independent access, client-facing use, or separating office operations from warehouse space.
The property is located within a well-maintained industrial park community and is served by abundant parking. The community is described as professional and orderly, with an industrial zoning designation supporting a variety of business uses. Condo fees are noted to include water, sewer, trash service, and security gate maintenance, which can simplify certain ownership expenses.
Designed for owner-users and businesses that need both operational and administrative space, the layout can support contractors, trades, service businesses, showroom-office operations, and warehouse/distribution or other light industrial activity. The combination of high-clear warehouse functionality, multiple office access points, and on-site parking helps make the unit practical for day-to-day operations that require storage alongside managed work and client use.
The property is located within a well-maintained industrial park community and is served by abundant parking. The community is described as professional and orderly, with an industrial zoning designation supporting a variety of business uses. Condo fees are noted to include water, sewer, trash service, and security gate maintenance, which can simplify certain ownership expenses.
Designed for owner-users and businesses that need both operational and administrative space, the layout can support contractors, trades, service businesses, showroom-office operations, and warehouse/distribution or other light industrial activity. The combination of high-clear warehouse functionality, multiple office access points, and on-site parking helps make the unit practical for day-to-day operations that require storage alongside managed work and client use.
Key Highlights
- 1,300 SF industrial warehouse condominium built in 2005 in a maintained industrial condo community
- Rear warehouse/storage area has 22‑foot clear height and a high‑bay garage door for loading, storage, and equipment use
- Functional layout combining warehouse and office space, plus office space on two levels connected by an interior spiral staircase
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
$14,480
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
3.05%
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%
$289,600
$289.6K
Cap Rate 7%
$206,857
$206.9K
Cap Rate 9%
$160,889
$160.9K
Market Conditions
NOI Build-Up for 1,300 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
$18.7K $14.40/SF
− Vacancy
−$1.7K −$1.30/SF
EGI
$17.0K $13.10/SF
− OpEx
−$2.6K −$1.97/SF
NOI
$14.5K $11.14/SF
Area
West Palm Beach, FL
Vacancy
9.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
15.00%
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%
$289,600
Cap Rate 7%
$206,857
Cap Rate 9%
$160,889
Alternative Uses
Best Use
Office B
$647.4K
$566.5K – $755.3K
NOI $45,316 @ 7.0% cap · market cap 9.54%
Second Best
Warehouse
$206.9K
$181.0K – $241.3K
NOI $14,480 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$915.5K
$801.1K – $1.07M
NOI $64,087 @ 7.0% cap · market cap 13.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33411, FL
74,206
Population
30,063
Households
2.5
Avg Household Size
42
Median Age
39%
College-Educated
91%
High-School Grad
34.9 sq mi
ZIP Area
2,126
Density / Sq Mi
$89,329
Median Household Income
$46,461
Median Earnings
$1,887
Median Rent
$400,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Functional warehouse and office setup with 22-foot clear height and dedicated office access for a variety of light industrial uses.
Where is this flex space located?
The property is located at 2755 Vista Pkwy I3 West Palm Beach, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1,300 SF industrial warehouse condominium built in 2005 in a maintained industrial condo community; Rear warehouse/storage area has 22‑foot clear height and a high‑bay garage door for loading, storage, and equipment use; Functional layout combining warehouse and office space, plus office space on two levels connected by an interior spiral staircase
