Versatile Industrial Condo with
For Sale
$1,150,000
5401 N Haverhill Rd 126, West Palm Beach, FL 33407
2,500 sqft industrial condo with 1,000 sqft office space.
Property Size3,500 SF
Price / SF$328.57
Days on Market107
Property Features for 5401 N Haverhill Rd 126
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$8,598
Building Details
Building Size
3,500 SF
Year Built
2006
Stories
2
Units
1
Listing Agency:
Douglas Elliman
(561) 655-8600
Listed By:
Paul Bergman · License #3248699
(561) 655-8600
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 8 at 6:55AM
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
Investment Insights
Based on property information with market context.
This industrial condo provides approximately 2,500 sqft of ground floor space suitable for office, showroom, and warehouse use. It also features an additional approximately 1,000 sqft of fully built-out, air-conditioned office and mezzanine space. The property includes 20ft clear height ceilings throughout, along with a 10 x 12 ft grade-level loading drive-in bay. The layout incorporates a separate warehouse area, separate offices on both levels, a break room, and bathroom facilities. Ample parking and storage are available. Constructed in 2006 with solid concrete tilt wall construction, the property also features a new roof and is in move-in condition. Located on Haverhill, it offers convenient access to I-95 and the Turnpike, facilitating distribution throughout Florida. This property is an ideal owner-user opportunity.
Key Highlights
- 2,500 sqft of ground floor space plus 1,000 sqft of built‑out, air‑conditioned office/mezzanine space.
- Benefit from 20ft clear height ceilings.
- Features a 10 x 12 ft grade‑level loading drive in bay.
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
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 - 2,500 sqft industrial condo with 1,000 sqft office space.
Where is this flex space located?
The property is located at 5401 N Haverhill Rd 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: 2,500 sqft of ground floor space plus 1,000 sqft of built‑out, air‑conditioned office/mezzanine space.; Benefit from **20ft clear height ceilings**.; Features a **10 x 12 ft grade‑level loading drive in bay**.
