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    West Palm Beach Commercial Space Title is generated by Realmo AI

    400 Executive Center Drive, West Palm Beach, FL 33401

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    For Lease
    $5,767/Mo $25 SF/Yr (calc)

    COMMERCIAL - West Palm Beach, FL

    Type:Office
    Property size:
    2,768 SF
    Added:
    Feb 19, 2025
    Days on Market:
    449
    Last Refresh:
    May 14 at 5:06 am

    Property Features for 400 Executive Center Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    NC(cit
    Bathrooms
    2
    Rooms
    Bathroom 2, Bathroom 1
    Standard status
    Active
    APN
    74434320040002090
    Size
    2,768 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    EXECUTIVE CENTER PLAZA COND UNIT 209
    Tax Annual Amount
    6804

    Building Details

    Year built
    1985
    Floors in Building
    2
    Number of units
    1

    We can help!

    Listing Contact
    Blake B Rayner
    Blake B Rayner

    Listing agent Blake B Rayner License #3438544

    Listing office Compass Florida LLC 101 N Federal Hwy, 5th Floor, Miami Beach, FL

    Listing date Feb 19, 2025

    MLS# R11063818

    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.

    HighLights

    • Central West Palm Beach location
    • Private entrance on the second floor
    • Use of receptionist included in base rent
    • Shared conference room on the first floor
    • One covered parking space included
    • Kitchen/breakroom (convertible to office space)

    Overview

    Located in central West Palm Beach, this commercial property offers office space for rent. The second floor, accessible via a private entrance at the rear of the building, features two private offices and a kitchen/breakroom equipped with cabinets and a refrigerator. This breakroom can also serve as a third office or a small conference room. A bathroom with a shower is also included. The tenant has access to the main entrance and receptionist on the first floor. Shared amenities on the first floor include an IT closet and a conference room, both shared with the property owner. The base rent includes the use of the receptionist and conference room. One covered parking space is available for the second-floor tenant. The property has a size of 2768 square feet. All CAM charges are shared with the new tenant. The zoning is NC(cit.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Palm Beach Orthodontics, ... Dental Office Massey Clark Fischer ... Insurance Agency Fishcer Eric J Insurance Agency Thomas C Mangum Insurance Agency MindHealing Institute Life Coach

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.078259
    Latitude
    26.713673

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    FAQs

    What type of property is this?
    Office units - Office space for rent in central West Palm Beach.
    Where is this office units located?
    The property is located at 400 Executive Center Drive West Palm Beach, FL.
    What is the lease rate?
    The lease rate is $5,767 /Mo.
    What are key features of this property?
    This property features: Central West Palm Beach location; Private entrance on the second floor; Use of receptionist included in base rent
    (561) 252-2208
    We can help!
    Listing Contact
    Blake B Rayner
    Blake B Rayner
    Real Estate License ID: 3438544
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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