Mixed-Use Building with Rooftop
New
For Sale
$14,950,000
312 Clematis St, West Palm Beach, FL 33401
Retail frontage and upper-level office suites create a five-story property with a flexible mix of commercial space.
Property Size25,296 SF
Price / SF$647.80
Days on Market2
Property Features for 312 Clematis St
General Information
Standard status
Active
Size
25,296 SF
Net Rentable
23,078 SF
Class
Trophy
Property subtype
Office
Occupancy
30%
Site & Location
Neighborhood
West Palm Beach Downtown Neighborhood Association
Road Access
Yes
Public Transit
Yes
Mixed-Use Components
retail, office
Additional Details
Tenant in Place
Yes
Property Use
Retail and Office
Amenities
original hardwood flooring
high ceilings
crown and accent moldings
exposed beams
rooftop patio
Building Details
Building Size
25,296 SF
Year Built
1925
Year Renovated
1998
Buildings
1
Stories
5
Listed By:
C. Todd Everett, SIOR · License #SL3265231
(561) 414-8567
Source:
Lee-associates
Added: Oct 30
Last Checked: Oct 30 at 2:46PM
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 C. Todd Everett, SIOR
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Investment Insights
Based on property information with market context.
At 312 Clematis St, this five-story mixed-use building contains 23,078 rentable square feet. Retail space occupies the first two floors, including a street-facing ground-floor suite with 18-foot ceilings and approximately 850 square feet of mezzanine area. The upper three levels are configured for office use, with original hardwood floors. The penthouse spans approximately 40% of the building footprint and opens to a rooftop patio through three sets of French doors. The property was built in 1925 and renovated in 1998; its facade retains decorative columns and carved architectural details.
The building fronts Clematis Street in downtown West Palm Beach. The Brightline station and The Ben hotel are within walking distance. Current occupancy is 30%, with one tenant occupying space in the building.
The building fronts Clematis Street in downtown West Palm Beach. The Brightline station and The Ben hotel are within walking distance. Current occupancy is 30%, with one tenant occupying space in the building.
Key Highlights
- 23,078 rentable square feet in a five‑story mixed‑use building
- Retail space on the first two floors; office space on the upper three
- Ground‑floor retail suite has 18‑foot ceilings and approximately 850 square feet of mezzanine space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$804,471
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,089,420
$16.1M
Cap Rate 7%
$11,492,443
$11.5M
Cap Rate 9%
$8,938,567
$8.9M
Market Conditions
NOI Build-Up for 23,078 SF
Gross rent
$1.27M $55.20/SF
− Vacancy
−$201.3K −$8.72/SF
EGI
$1.07M $46.48/SF
− OpEx
−$268.2K −$11.62/SF
NOI
$804.5K $34.86/SF
Area
West Palm Beach, FL
Vacancy
15.80%
Lease Rate
$55.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,089,420
Cap Rate 7%
$11,492,443
Cap Rate 9%
$8,938,567
Alternative Uses
Best Use
Office B
$11.49M
$10.06M – $13.41M
NOI $804,471 @ 7.0% cap · market cap 5.38%
Second Best
Mixed Use
$5.00M
$4.38M – $5.84M
NOI $350,324 @ 7.0% cap · market cap 2.34%
Theoretical Best
Office A
$16.25M
$14.22M – $18.96M
NOI $1,137,697 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,624
Businesses Nearby
Explore this area
Business Placement
Demographics for 33401, FL
31,302
Population
19,051
Households
1.6
Avg Household Size
40
Median Age
42%
College-Educated
89%
High-School Grad
5.1 sq mi
ZIP Area
6,138
Density / Sq Mi
$60,942
Median Household Income
$39,932
Median Earnings
$1,774
Median Rent
$430,900
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail frontage and upper-level office suites create a five-story property with a flexible mix of commercial space.
Where is this mixed-use property located?
The property is located at 312 Clematis St West Palm Beach, FL.
What is the asking price?
The asking price for this property is $14,950,000.
What are key features of this property?
This property features: 23,078 rentable square feet in a five‑story mixed‑use building; Retail space on the first two floors; office space on the upper three; Ground‑floor retail suite has 18‑foot ceilings and approximately 850 square feet of mezzanine space
