Live-Work Condominium
New
For Sale
$725,000
410 EVERNIA Street, West Palm Beach, FL 33401
Commercial Sale, West Palm Beach, FL
Property Size1,211 SF
Lot Size1.00 Acre
Price / SF$598.68
Days on Market2
Property Features for 410 EVERNIA Street
General Information
Property type
Residential
Property subtype
Office
Zoning
QGD-10 (city)
Parking
1
Parking features
Assigned
Subdivision
5420
Standard status
Active
APN
74434321250001170
Size
1,211 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Description
WHITNEY CONDO UNIT 117
Tax Annual Amount
9069
HOA Fee
$588 Annually
Legal Description
WHITNEY CONDO UNIT 117
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
2007
Number of units
210
Flooring type
Laminate, Tile - Ceramic
Building materials
Block, CBS, Concrete
Roof type
Concrete
Listing Agency:
Mantovani Land & Commercial
(561) 840-6789
Listed By:
Silvana DeCastro · License #0681440
(561) 701-4226
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 7:06AM
MLS# B26070160
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 1,211-square-foot condominium unit is configured for combined residential and work use. Built in 2007 with block, CBS, and concrete construction, the space features laminate and ceramic tile flooring, central heating, central air, and ceiling fan(s). Assigned parking is provided.
The property is located in downtown West Palm Beach within the QGD-10 (city) zoning designation. Public water and public sewer serve the property, while electricity is available. A concrete roof completes the building improvements.
The property is located in downtown West Palm Beach within the QGD-10 (city) zoning designation. Public water and public sewer serve the property, while electricity is available. A concrete roof completes the building improvements.
Key Highlights
- 1,211‑square‑foot live‑work condominium unit
- Located in downtown West Palm Beach
- QGD‑10 (city) zoning
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Condominium layout supports combined residential and work use in downtown West Palm Beach.
Where is this live-work space located?
The property is located at 410 EVERNIA Street 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: 1,211‑square‑foot live‑work condominium unit; Located in downtown West Palm Beach; QGD‑10 (city) zoning
