Industrial Condo with
For Sale
Contact for pricing
5401 N Haverhill Rd, West Palm Beach, FL 33407
Industrial condo featuring 20-foot clear height and ground-level loading into a dedicated warehouse area.
Property Size2,500 SF
Price / SF$460
Days on Market56
Property Features for 5401 N Haverhill Rd
General Information
Standard status
Active
Size
2,500 SF
Property subtype
OFFICE
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Year Built
2006
Construction
tilt-up concrete
Listing Agency:
Douglas Elliman
Listed By:
Paul Bergman · License #3248699
(310) 498-4883
Source:
Moodyscre
Added: Jul 21
Changed: Sep 11
Last Checked: Sep 13 at 8:28AM
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 includes approximately 2,500 square feet of versatile ground-floor space with office, showroom, and warehouse areas. An additional approximately 1,000 square feet of fully built-out, air-conditioned office space with a mezzanine is included. The property is constructed with solid concrete tilt wall and offers 20-foot clear height ceilings throughout, along with a 10 x 12-foot grade-level loading drive in the bay.
The layout includes separate warehouse area and separate offices on both levels, as well as a break room and bathroom facilities. Ample parking and storage are provided. Built in 2006, the property has a new roof and is described as move-in condition.
For access to distribution routes, the property is positioned on Haverhill with easy access to I-95 and the Turnpike, supporting efficient operations throughout Florida.
The layout includes separate warehouse area and separate offices on both levels, as well as a break room and bathroom facilities. Ample parking and storage are provided. Built in 2006, the property has a new roof and is described as move-in condition.
For access to distribution routes, the property is positioned on Haverhill with easy access to I-95 and the Turnpike, supporting efficient operations throughout Florida.
Key Highlights
- Approx. 2,500 sqft ground‑floor office, showroom, and warehouse space, plus approx. 1,000 sqft built‑out air‑conditioned office and mezzanine
- 20‑ft clear height ceilings throughout and separate warehouse area with dedicated grade‑level loading
- 10 x 12‑ft grade‑level loading drive in bay for warehouse 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
$87,147
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
7.58%
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%
$1,742,940
$1.7M
Cap Rate 7%
$1,244,957
$1.2M
Cap Rate 9%
$968,300
$968.3K
Market Conditions
NOI Build-Up for 2,500 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
$138.0K $55.20/SF
− Vacancy
−$21.8K −$8.72/SF
EGI
$116.2K $46.48/SF
− OpEx
−$29.0K −$11.62/SF
NOI
$87.1K $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%
$1,742,940
Cap Rate 7%
$1,244,957
Cap Rate 9%
$968,300
Alternative Uses
Best Use
Office B
$1.24M
$1.09M – $1.45M
NOI $87,147 @ 7.0% cap · market cap 7.58%
Second Best
Warehouse
$397.8K
$348.1K – $464.1K
NOI $27,846 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,245 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
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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?
Flex space - Industrial condo featuring 20-foot clear height and ground-level loading into a dedicated warehouse area.
Where is this flex space located?
The property is located at 5401 N Haverhill Rd 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: Approx. 2,500 sqft ground‑floor office, showroom, and warehouse space, plus approx. 1,000 sqft built‑out air‑conditioned office and mezzanine; 20‑ft clear height ceilings throughout and separate warehouse area with dedicated grade‑level loading; 10 x 12‑ft grade‑level loading drive in bay for warehouse access
