Industrial Condo with Office &
For Sale
Contact for pricing
5401 N Haverhill Road # 126, West Palm Beach, FL 33407
Move-in-ready industrial condo with 20-foot clear height, grade-level loading, and built-out office space.
Property Size3,500 SF
Price / SF$328.57
Days on Market184
Property Features for 5401 N Haverhill Road # 126
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Industrial, Business for Sale, Retail, Office
Zoning
IPD(ci
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Year Built
2006
Stories
2
Units
1
Listing Agency:
Douglas Elliman (Palm Beach)
(561) 801-1535
Listed By:
Gloria Giudici · License #3514951
Source:
Crexi
Added: Feb 13
Changed: Aug 14
Last Checked: Aug 14 at 8:29PM
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 Douglas Elliman (Palm Beach)
Investment Insights
Based on property information with market context.
This industrial condo combines warehouse functionality with substantial built-out office space. The ground floor includes versatile space that can support office, showroom, and warehouse uses, with separate warehouse and office areas. A fully built-out, air-conditioned office and mezzanine provides an additional layer of usable space, along with separate offices on both levels. The property includes a break room and bathroom facilities, ample parking and storage, and solid concrete tilt wall construction. Built in 2006, the asset features 20-foot clear height ceilings throughout and a 10-by-12-foot grade-level loading drive in the bay. A new roof adds to the move-in-ready condition.
Located on N Haverhill Road in West Palm Beach, the property is positioned for convenient access to I-95 and the Turnpike, supporting distribution and day-to-day operational needs across Florida.
The space is well suited for an owner-user seeking an industrial setup with dedicated office and showroom functionality alongside a separate warehouse area. Tenants and buyers who need ground-level loading, meaningful height, and on-site office accommodations will find the configuration practical for warehousing, light distribution, and related commercial operations.
Located on N Haverhill Road in West Palm Beach, the property is positioned for convenient access to I-95 and the Turnpike, supporting distribution and day-to-day operational needs across Florida.
The space is well suited for an owner-user seeking an industrial setup with dedicated office and showroom functionality alongside a separate warehouse area. Tenants and buyers who need ground-level loading, meaningful height, and on-site office accommodations will find the configuration practical for warehousing, light distribution, and related commercial operations.
Key Highlights
- Industrial condo built in 2006 with approx 2,500 SF ground‑floor office/showroom/warehouse plus an additional approx 1,000 SF built‑out A/C office and mezzanine
- 20‑ft clear height ceilings throughout the space
- 10' x 12' grade‑level loading drive in the bay for easy access
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
$38,984
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
3.39%
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%
$779,680
$779.7K
Cap Rate 7%
$556,914
$556.9K
Cap Rate 9%
$433,156
$433.2K
Market Conditions
NOI Build-Up for 3,500 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
$50.4K $14.40/SF
− Vacancy
−$4.5K −$1.30/SF
EGI
$45.9K $13.10/SF
− OpEx
−$6.9K −$1.97/SF
NOI
$39.0K $11.14/SF
Area
West Palm Beach, FL
Vacancy
9.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
15.00%
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%
$779,680
Cap Rate 7%
$556,914
Cap Rate 9%
$433,156
Alternative Uses
Best Use
Office B
$1.74M
$1.53M – $2.03M
NOI $122,006 @ 7.0% cap · market cap 10.61%
Second Best
Warehouse
$556.9K
$487.3K – $649.7K
NOI $38,984 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$2.46M
$2.16M – $2.88M
NOI $172,543 @ 7.0% cap · market cap 15.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33407, FL
34,558
Population
15,147
Households
2.3
Avg Household Size
35
Median Age
26%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
3,491
Density / Sq Mi
$56,606
Median Household Income
$34,886
Median Earnings
$1,551
Median Rent
$290,500
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?
Flex space - Move-in-ready industrial condo with 20-foot clear height, grade-level loading, and built-out office space.
Where is this flex space located?
The property is located at 5401 N Haverhill Road # 126 West Palm Beach, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Industrial condo built in 2006 with approx 2,500 SF ground‑floor office/showroom/warehouse plus an additional approx 1,000 SF built‑out A/C office and mezzanine; 20‑ft clear height ceilings throughout the space; 10' x 12' grade‑level loading drive in the bay for easy access
