Flex Space with Mezzanine
For Sale
Contact for pricing
3445-3499 High Ridge Rd, Boynton Beach, FL 33426
Flex property combines conditioned office space, mezzanine storage, and a grade-level overhead door.
Property Size3,111 SF
Price / SF$150
Days on Market194
Property Features for 3445-3499 High Ridge Rd
General Information
Standard status
Active
Size
3,111 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Office Build-Out
518 SF
Mezzanine
518 SF
Drive-In Doors
1
Sprinkler System
Yes
Listing Agency:
Green Capital Realty Advisors
(561) 998-2427
Listed By:
Steve Leeds
(561) 998-2427
Source:
Moodyscre
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 5:56PM
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 Green Capital Realty Advisors
Investment Insights
Based on property information with market context.
This 3,111-square-foot flex property includes 518 square feet of air-conditioned office space and an additional 518 square feet of mezzanine storage. The building also features a grade-level overhead door and a fully fire-sprinklered system, supporting a practical combination of office and workspace functions.
The property fronts High Ridge Road at 3445–3499 High Ridge Rd in Boynton Beach, Florida. It is located one block west of I-95 and Gateway Boulevard, providing a defined position near a major transportation corridor.
The property fronts High Ridge Road at 3445–3499 High Ridge Rd in Boynton Beach, Florida. It is located one block west of I-95 and Gateway Boulevard, providing a defined position near a major transportation corridor.
Key Highlights
- 3,111 SF of flex space fronting High Ridge Road
- 518 SF of A/C office space plus 518 SF of mezzanine storage
- Grade‑level 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
$33,585
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
7.20%
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%
$671,700
$671.7K
Cap Rate 7%
$479,786
$479.8K
Cap Rate 9%
$373,167
$373.2K
Market Conditions
NOI Build-Up for 3,111 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
$50.8K $16.32/SF
− Vacancy
−$2.8K −$0.90/SF
EGI
$48.0K $15.42/SF
− OpEx
−$14.4K −$4.63/SF
NOI
$33.6K $10.80/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
30.00%
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%
$671,700
Cap Rate 7%
$479,786
Cap Rate 9%
$373,167
Alternative Uses
Best Use
Flex RnD
$977.6K
$855.4K – $1.14M
NOI $68,430 @ 7.0% cap · market cap 14.66%
Second Best
Industrial
$479.8K
$419.8K – $559.8K
NOI $33,585 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,366 @ 7.0% cap · market cap 32.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,282
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Flex property combines conditioned office space, mezzanine storage, and a grade-level overhead door.
Where is this flex space located?
The property is located at 3445-3499 High Ridge Rd Boynton Beach, FL.
What is the asking price?
The asking price for this property is $466,650.
What are key features of this property?
This property features: 3,111 SF of flex space fronting High Ridge Road; 518 SF of A/C office space plus 518 SF of mezzanine storage; Grade‑level overhead door
