Live-Work
New
For Sale
$725,000
410 EVERNIA Street #117, West Palm Beach, FL 33401
Condominium unit configured for combined residential and professional use in downtown West Palm Beach.
Property Size1,211 SF
Price / SF$598.68
Days on Market5
Property Features for 410 EVERNIA Street #117
General Information
Standard status
Active
Size
1,211 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,069
Amenities
Central air
Assigned
Ceiling Fans Cooling
Central Air Cooling
Central Heating
Ceramic Tile Flooring
Concrete Roof
Laminate Flooring
Phases3
Building Details
Year Built
2007
Listing Agency:
MANTOVANI LAND & COMMERCIAL
Listed By:
SILVANA DECASTRO · License #B26070160
(561) 701-4226
Source:
Corcoran
Added: Aug 30
Changed: Sep 3
Last Checked: Sep 2 at 9:06PM
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 MANTOVANI LAND & COMMERCIAL
Investment Insights
Based on property information with market context.
This live-work condominium unit combines residential and professional functionality within a 1,211-square-foot layout. The property is identified as Unit 117 and was built in 2007, providing a defined setting for occupants seeking to integrate living and workspace in one property.
Located in downtown West Palm Beach, the unit is situated at 410 Evernia Street. Its live-work classification and condominium format distinguish it from conventional office-only or residential-only space.
Located in downtown West Palm Beach, the unit is situated at 410 Evernia Street. Its live-work classification and condominium format distinguish it from conventional office-only or residential-only space.
Key Highlights
- Live‑work condominium unit with combined residential and professional use
- 1,211 square feet of property space
- Built in 2007
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
$42,214
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
5.82%
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%
$844,280
$844.3K
Cap Rate 7%
$603,057
$603.1K
Cap Rate 9%
$469,044
$469.0K
Market Conditions
NOI Build-Up for 1,211 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
$66.8K $55.20/SF
− Vacancy
−$10.6K −$8.72/SF
EGI
$56.3K $46.48/SF
− OpEx
−$14.1K −$11.62/SF
NOI
$42.2K $34.86/SF
Area
West Palm Beach, FL
Vacancy
15.80%
Lease Rate
$55.20 /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%
$844,280
Cap Rate 7%
$603,057
Cap Rate 9%
$469,044
Alternative Uses
Best Use
Office B
$603.1K
$527.7K – $703.6K
NOI $42,214 @ 7.0% cap · market cap 5.82%
Second Best
Mixed Use
$262.6K
$229.8K – $306.4K
NOI $18,383 @ 7.0% cap · market cap 2.54%
Theoretical Best
Office A
$852.9K
$746.3K – $995.0K
NOI $59,700 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,473
Businesses Nearby
Explore this area
Business Placement
Demographics for 33401, FL
31,302
Population
19,051
Households
1.6
Avg Household Size
40
Median Age
42%
College-Educated
89%
High-School Grad
5.1 sq mi
ZIP Area
6,138
Density / Sq Mi
$60,942
Median Household Income
$39,932
Median Earnings
$1,774
Median Rent
$430,900
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?
Live-work space - Condominium unit configured for combined residential and professional use in downtown West Palm Beach.
Where is this live-work space located?
The property is located at 410 EVERNIA Street #117 West Palm Beach, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Live‑work condominium unit with combined residential and professional use; 1,211 square feet of property space; Built in 2007
