Corner Office Unit with Wraparound
For Sale
$445,500
4524 Gun Club Rd Unit 203, West Palm Beach, FL 33415
UC zoning supports professional office, medical, and executive suite uses.
Property Size2,172 SF
Price / SF$205.11
Days on Market8
Property Features for 4524 Gun Club Rd Unit 203
General Information
Standard status
Active
Size
2,172 SF
Elevators
Yes
Zoning
UC
Additional Details
Floor
Penthouse
Amenities
lush courtyard
updated bathrooms
Building Details
Year Built
1985
Listing Agency:
Continental Properties, Inc.
Listed By:
Julie L Clapp · License #3268440
(561) 689-4766
Source:
Chenoregroup
Added: Sep 7
Changed: Sep 10
Last Checked: Sep 13 at 3:59PM
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 Continental Properties, Inc.
Investment Insights
Based on property information with market context.
This penthouse office condominium occupies a corner position and provides office space with wraparound windows. The 1985 building includes an elevator, maintained common areas, a courtyard, and updated bathrooms serving the property. These features provide a defined office setting with common-area maintenance handled by the building.
UC zoning supports professional office, medical, and executive suite uses. Located at 4524 Gun Club Rd, Unit 203, in West Palm Beach, Florida, the property has reported exposure to over 44,000 cars per day. Its configuration and zoning accommodate the office-oriented business formats identified for the property.
UC zoning supports professional office, medical, and executive suite uses. Located at 4524 Gun Club Rd, Unit 203, in West Palm Beach, Florida, the property has reported exposure to over 44,000 cars per day. Its configuration and zoning accommodate the office-oriented business formats identified for the property.
Key Highlights
- Penthouse corner office unit
- Wraparound windows provide broad exterior exposure
- Reported exposure to over 44,000 cars per day
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
$30,378
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
6.82%
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%
$607,560
$607.6K
Cap Rate 7%
$433,971
$434.0K
Cap Rate 9%
$337,533
$337.5K
Market Conditions
NOI Build-Up for 2,172 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
$54.7K $25.20/SF
− Vacancy
−$4.1K −$1.89/SF
EGI
$50.6K $23.31/SF
− OpEx
−$20.3K −$9.32/SF
NOI
$30.4K $13.99/SF
Area
West Palm Beach, FL
Vacancy
7.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
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%
$607,560
Cap Rate 7%
$433,971
Cap Rate 9%
$337,533
Alternative Uses
Best Use
Office B
$1.08M
$946.4K – $1.26M
NOI $75,713 @ 7.0% cap · market cap 17.00%
Second Best
Healthcare Medical
$434.0K
$379.7K – $506.3K
NOI $30,378 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,075 @ 7.0% cap · market cap 24.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Explore this area
Business Placement
Demographics for 33415, FL
51,251
Population
20,364
Households
2.5
Avg Household Size
37
Median Age
19%
College-Educated
77%
High-School Grad
7.3 sq mi
ZIP Area
7,021
Density / Sq Mi
$57,199
Median Household Income
$35,146
Median Earnings
$1,597
Median Rent
$220,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - UC zoning supports professional office, medical, and executive suite uses.
Where is this office units located?
The property is located at 4524 Gun Club Rd Unit 203 West Palm Beach, FL.
What is the asking price?
The asking price for this property is $445,500.
What are key features of this property?
This property features: Penthouse corner office unit; Wraparound windows provide broad exterior exposure; Reported exposure to over 44,000 cars per day
