Office Building with Two Accessible
For Sale
Under Contract
$849,000
3865 10th Avenue N, Palm Springs, FL 33461
SINGLE_FAMILY - Palm Springs, FL
Property Size1,248 SF
Lot Size0.33 Acres
Price / SF$680.29
Days on Market379
Property Features for 3865 10th Avenue N
General Information
Property type
Residential
Property subtype
Office
Zoning
CG(cit
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
12
Security features
Security System
Directions
I95 to 10th Ave. N, go east on 10th Ave. West of Congress Ave. just east of Kirk Rd. On the North side of the road.
Subdivision
5490
Standard status
Active Under Contract
APN
70434419160000012
Size
1,248 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
REO PARK S 100 FT OF LT 1
Tax Annual Amount
7953
Legal Description
REO PARK S 100 FT OF LT 1
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Central
Cooling system
Zoned, Central Air
Water source
Public
Amenities
waiting room
reception area
conference room
breakroom
handicapped accessible
Building Details
Year built
1952
Floors in Building
1
Number of units
12
Flooring type
Tile - Ceramic
Building materials
CBS
Roof type
Composition
Listing Agency:
Partnership Realty Inc.
(561) 355-0270
Listed By:
Janice Perry Brown · License #671261
(561) 351-3171
Added: Jul 28, 2025
Changed: Aug 10
Last Checked: Aug 10 at 1:06PM
MLS# R11111026
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 office building on a 0.33-acre lot was built in 1952 with CBS construction and a composition roof. The interior is set up for office use with a waiting room and reception area, at least three large offices plus smaller rooms used for filing and storage, a breakroom, and a large conference room that could be divided with cubicles. Heating and cooling are zoned and centrally provided, with central air, and the A/C units are reported as 6 years old. Flooring includes ceramic tile. Public water and public sewer serve the property.
The building is handicapped accessible with a ramp, handrails, and two accessible bathrooms. The current tenant has been there for over 20 years; the lease ends February 1, 2027, with the tenant possibly leaving earlier. The seller notes lots of parking and a location close to I-95.
The layout can be configured as two different office areas with separate entrances, bathrooms, electric panels, and storage, supporting flexible office planning.
The building is handicapped accessible with a ramp, handrails, and two accessible bathrooms. The current tenant has been there for over 20 years; the lease ends February 1, 2027, with the tenant possibly leaving earlier. The seller notes lots of parking and a location close to I-95.
The layout can be configured as two different office areas with separate entrances, bathrooms, electric panels, and storage, supporting flexible office planning.
Key Highlights
- 0.33‑acre office lot with 1,248 SF building
- Lease ends February 1, 2027; tenant may leave earlier
- A/C units reported 6 years old; roof reported 9 years old
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
$33,078
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
3.90%
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%
$661,560
$661.6K
Cap Rate 7%
$472,543
$472.5K
Cap Rate 9%
$367,533
$367.5K
Market Conditions
NOI Build-Up for 1,248 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
$56.9K $45.60/SF
− Vacancy
−$12.8K −$10.26/SF
EGI
$44.1K $35.34/SF
− OpEx
−$11.0K −$8.84/SF
NOI
$33.1K $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%
$661,560
Cap Rate 7%
$472,543
Cap Rate 9%
$367,533
Alternative Uses
Best Use
Office B
$472.5K
$413.5K – $551.3K
NOI $33,078 @ 7.0% cap · market cap 3.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$878.9K
$769.1K – $1.03M
NOI $61,524 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
977
Businesses Nearby
Explore this area
Business Placement
Demographics for 33461, FL
47,161
Population
18,095
Households
2.6
Avg Household Size
36
Median Age
17%
College-Educated
75%
High-School Grad
7.1 sq mi
ZIP Area
6,642
Density / Sq Mi
$61,218
Median Household Income
$31,503
Median Earnings
$1,615
Median Rent
$263,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building with central HVAC, ceramic tile floors, and two accessible bathrooms, plus a multi-office layout.
Where is this office building located?
The property is located at 3865 10th Avenue N Palm Springs, FL.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 0.33‑acre office lot with 1,248 SF building; Lease ends February 1, 2027; tenant may leave earlier; A/C units reported 6 years old; roof reported 9 years old
