Office Condo in Mixed-Use
For Sale
$469,000
Pending
3307 Northlake Boulevard, Palm Beach Gardens, FL 33403
Commercial Sale, Palm Beach Gardens, FL
Property Size1,000 SF
Lot Size1.00 Acre
Days on Market157
Property Features for 3307 Northlake Boulevard
General Information
Property type
Residential
Property subtype
Office
Zoning
MXD (city)
Parking
8
Subdivision
5260
Standard status
Pending
APN
52434218210021070
Size
1,000 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Description
BANYAN PLACE CONDOMINIUM UNIT B107
Tax Annual Amount
5614
HOA Fee
$737 Monthly
Legal Description
BANYAN PLACE CONDOMINIUM UNIT B107
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
building signage
Building Details
Year built
2005
Floors in Building
1
Number of units
1
Flooring type
Vinyl
Building materials
CBS
Roof type
Concrete
Listing Agency:
Illustrated Properties LLC (Co
(561) 626-7000
Listed By:
Troy Maleyko · License #3583569
(561) 831-8202
Added: Mar 27
Changed: Aug 19
Last Checked: Aug 30 at 6:06AM
MLS# B26007817
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale office condo is offered as Unit 107 within the Banyan Place Condominium. The unit is approximately 1,000 square feet and was built in 2005. The property is part of a Class B office condominium and is situated within mixed-use zoning (MXD), supporting a broad range of approved uses.
The condominium is located on Northlake Boulevard in Palm Beach Gardens and is described as highly visible, with building signage. Parking is identified as strong, at 8.67 spaces per 1,000 square feet, supporting convenient day-to-day access for occupants and visitors.
As a professionally positioned office condo in a multi-use condominium setting, the offering provides an owner-occupant or investment buyer with a compact, manageable footprint inside Banyan Place.
The condominium is located on Northlake Boulevard in Palm Beach Gardens and is described as highly visible, with building signage. Parking is identified as strong, at 8.67 spaces per 1,000 square feet, supporting convenient day-to-day access for occupants and visitors.
As a professionally positioned office condo in a multi-use condominium setting, the offering provides an owner-occupant or investment buyer with a compact, manageable footprint inside Banyan Place.
Key Highlights
- Prime location on highly visible Northlake Boulevard in Palm Beach Gardens.
- Strong parking ratio of 8.67 spaces per 1,000 SF.
- Mixed‑use zoning allows for a broad range of approved uses.
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
$26,505
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
5.65%
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%
$530,100
$530.1K
Cap Rate 7%
$378,643
$378.6K
Cap Rate 9%
$294,500
$294.5K
Market Conditions
NOI Build-Up for 1,000 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
$45.6K $45.60/SF
− Vacancy
−$10.3K −$10.26/SF
EGI
$35.3K $35.34/SF
− OpEx
−$8.8K −$8.84/SF
NOI
$26.5K $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%
$530,100
Cap Rate 7%
$378,643
Cap Rate 9%
$294,500
Alternative Uses
Best Use
Office B
$378.6K
$331.3K – $441.8K
NOI $26,505 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$704.3K
$616.2K – $821.6K
NOI $49,298 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,331
Businesses Nearby
Explore this area
Business Placement
Demographics for 33403, FL
13,779
Population
5,906
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
3.3 sq mi
ZIP Area
4,175
Density / Sq Mi
$69,050
Median Household Income
$34,019
Median Earnings
$1,426
Median Rent
$340,100
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?
Office units - Well-located office condo unit in Banyan Place Condominium with dedicated parking and building signage.
Where is this office units located?
The property is located at 3307 Northlake Boulevard Palm Beach Gardens, FL.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Prime location on highly visible Northlake Boulevard in Palm Beach Gardens.; Strong parking ratio of 8.67 spaces per 1,000 SF.; Mixed‑use zoning allows for a broad range of approved uses.
