First-Floor Office
New
For Sale
Contact for pricing
5114 OKEECHOBEE Boulevard Unit 112, West Palm Beach, FL 33417
A vacant, six-room layout includes a central hall, utility closet, and windowed offices.
Property Size1,229 SF
Price / SF$0.02
Days on Market3
Property Features for 5114 OKEECHOBEE Boulevard Unit 112
General Information
Standard status
Active
Size
1,229 SF
Total Parking Spaces
84
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
1
Amenities
Acres: 3.27, Features: County Location, Near Airport, 3 To Less Than 4 Acre Lot, West Of US 1
Roof: Flat Tile, Flat Roof With Facade Front
Sewer: Public Sewer, Public Sanitation, Sewer
Parcel Number: 00424326000001310, Tax Annual Amount: $95,523, Tax Legal Description: 26-43-42~ N 33O FT OF W 515 FTOF E 865 FT OF NE 1/4 (LESS NLY 62 FT OKEECHOBEE RD R/W), Tax Year: 2025
Flooring: Vinyl
Cooling: Central Air
Heating: Central, Electric
Business Type: Office/Warehouse Combination, Office Space, Number Of Units Total: 1, Special Listing Conditions: Lease, Standard Status: Active
Parking Total: 84, Features: Common, Free Parking
Construction Materials: Concrete Block Construction, Levels: 1, Stories: 2, Year Built: 1982, Building Area Total: 19525, Building Features: Airport Access, Landscaped, Heavy Traffic, Structure Type: Office/Retail, Office, Professional
County Or Parish: Palm Beach County, Unit Number: 112
Leasable Area Units: Square Feet, Leasable Area: 1229
Features: Lawn/Pool Maintenance, Units In Community: 1
Electric On Property YN: t, Electric: Separate Meters, Utilities: Cable Connected, Cable Available, Electricity Available, Sewer Available, Water Available
Possession: Funding, Long Closing Preferred, Negotiable
Tenant Pays: Grounds Care, Outside Insurance, Lawn Care, Exterior Maintenance, Real Estate Tax
Water Source: Public
Road Frontage Type: State Road, City/County Maintained, State, U.S. Hwy, Road Responsibility: Public Maintained Road
Features: West Of Us1
Features: Smoke Alarm, Fire Alarm
Building Details
Year Built
1982
Listing Agency:
Compass Florida LLC
(561) 285-4794
Listed By:
Brad Kuskin · License #3333122
(561) 232-7899
Source:
Riserealty
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 16 at 2:22PM
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 Compass Florida LLC
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Investment Insights
Based on property information with market context.
The 1,229-square-foot first-floor office suite is vacant and arranged as six enclosed rooms around a central hall. A front office has a window, while the corner office features windows on two walls; a utility closet completes the layout. The building dates to 1982.
The suite fronts Okeechobee Boulevard, with approximately 68,500 vehicles per day. Florida’s Turnpike is about two minutes away, and I-95 is about six minutes away. The property offers 84 free surface parking spaces.
Lease terms of three to ten years are preferred, with flexibility on guarantee structures. Surgical and full medical uses are not permitted.
The suite fronts Okeechobee Boulevard, with approximately 68,500 vehicles per day. Florida’s Turnpike is about two minutes away, and I-95 is about six minutes away. The property offers 84 free surface parking spaces.
Lease terms of three to ten years are preferred, with flexibility on guarantee structures. Surgical and full medical uses are not permitted.
Key Highlights
- 1,229 SF vacant office suite on the first floor
- Six enclosed rooms organized around a central hall
- Front office with a window; corner office has windows on two walls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,841
Suggested Prices Based on Cap Rates
Cap Rate 5%
$856,820
$856.8K
Cap Rate 7%
$612,014
$612.0K
Cap Rate 9%
$476,011
$476.0K
Market Conditions
NOI Build-Up for 1,229 SF
Gross rent
$67.8K $55.20/SF
− Vacancy
−$10.7K −$8.72/SF
EGI
$57.1K $46.48/SF
− OpEx
−$14.3K −$11.62/SF
NOI
$42.8K $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 Rate 5%
$856,820
Cap Rate 7%
$612,014
Cap Rate 9%
$476,011
Alternative Uses
Best Use
Office B
$612.0K
$535.5K – $714.0K
NOI $42,841 @ 7.0% cap · market cap 214,205.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$865.5K
$757.3K – $1.01M
NOI $60,587 @ 7.0% cap · market cap 302,935.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,040
Businesses Nearby
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Business Placement
Demographics for 33417, FL
34,153
Population
20,450
Households
1.7
Avg Household Size
48
Median Age
26%
College-Educated
83%
High-School Grad
6.6 sq mi
ZIP Area
5,175
Density / Sq Mi
$50,077
Median Household Income
$35,036
Median Earnings
$1,533
Median Rent
$159,300
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
Frequently Asked Questions
What type of property is this?
Office units - A vacant, six-room layout includes a central hall, utility closet, and windowed offices.
Where is this office units located?
The property is located at 5114 OKEECHOBEE Boulevard Unit 112 West Palm Beach, FL.
What are key features of this property?
This property features: 1,229 SF vacant office suite on the first floor; Six enclosed rooms organized around a central hall; Front office with a window; corner office has windows on two walls
