Historic Mixed-Use
312 Clematis St West Palm West Palm Beach, FL 33401
For Sale
$10,500,000
Five-story building with ground-floor retail and upper-level office space, including a penthouse rooftop patio.
Property Size23,078 SF
Price / SF$454.98
Days on Market156
Property Features for 312 Clematis St West Palm
General Information
- Standard status
- Active
- Size
- 23,078 SF
- Property subtype
- Multi Tenant Office
Building Details
- Year Built
- 1925
Listing Agency:
Lee & Associates | Miami
(305) 235-1500
Listed By:
Lee & Associates | Miami Marketing
(305) 235-1500
Source:
Thebrokerlist
Added: Feb 18
Changed: Jul 23
Last Checked: Jul 23 at 2:54PM
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 Lee & Associates | Miami
Investment Insights
Based on property information with market context.
The Anthony Building is a historic five-story retail and office property originally built in 1925 and completely renovated in 1998. The first two floors include a ground-floor retail suite fronting Historic Clematis Street with 18-foot high ceilings and approximately 850 square feet of mezzanine space. The top three floors are configured as conventional and loft offices, with original hardwood flooring. Two floors span the full building footprint, and there is a penthouse level covering approximately 40% of the footprint on the south end, featuring a large rooftop patio with three sets of French doors.
The building’s facade retains original historic design elements, including decorative columns and carved concrete architectural cornices and moldings, along with gold-leafed lettering for prominent street presence. The property is currently 31.7% leased to two tenants.
Positioned in the Downtown West Palm Beach CBD, the building is described as one block from US-1 and about 1.5 miles from I-95. The area includes proximity to the Palm Beach County Courthouse, Cityplace, and The Waterfront, with a Walk Score of 98 and convenient access to public transportation, including the Brightline High-Speed Rail station.
The building’s facade retains original historic design elements, including decorative columns and carved concrete architectural cornices and moldings, along with gold-leafed lettering for prominent street presence. The property is currently 31.7% leased to two tenants.
Positioned in the Downtown West Palm Beach CBD, the building is described as one block from US-1 and about 1.5 miles from I-95. The area includes proximity to the Palm Beach County Courthouse, Cityplace, and The Waterfront, with a Walk Score of 98 and convenient access to public transportation, including the Brightline High-Speed Rail station.
Key Highlights
- 23,078 rentable SF five‑story retail and office building on Historic Clematis Street in Downtown West Palm Beach (built 1925).
- Ground‑floor retail suite fronts Clematis with 18‑foot high ceilings and about 850 SF of mezzanine space.
- Upper floors feature conventional and loft offices with original hardwood flooring; building includes a penthouse floor covering about 40% of the south end footprint.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.27M | $55.20 |
| − Vacancy | −$201.3k | −$8.72 |
| EGI | $1.07M | $46.48 |
| − OpEx | −$268.2k | −$11.62 |
| NOI | $804.5k | $34.86 |
23,078 SF · lease $55.20/SF/yr · vacancy 15.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$11.49M
$10.06M – $13.41M
NOI $804,471 @ 7.0% cap · market cap 7.66%
Second Best
Retail
$4.66M
$4.08M – $5.44M
NOI $326,258 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$16.25M
$14.22M – $18.96M
NOI $1,137,697 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
ScriptRx
(Bike/Boat/Book/etc) Store
Bravado Health
(Bike/Boat/Book/etc) Store
Fitness Hub Studios
Gym & Fitness Center
Avison Young
Real Estate Agency
FAQs
What type of property is this?
Office building - Five-story building with ground-floor retail and upper-level office space, including a penthouse rooftop patio.
Where is this office building located?
The property is located at 312 Clematis St West Palm West Palm Beach, FL.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: 23,078 rentable SF five‑story retail and office building on Historic Clematis Street in Downtown West Palm Beach (built 1925).; Ground‑floor retail suite fronts Clematis with 18‑foot high ceilings and about 850 SF of mezzanine space.; Upper floors feature conventional and loft offices with original hardwood flooring; building includes a penthouse floor covering about 40% of the south end footprint.
