Industrial Flex Space with Loading
For Sale
$999,000
5401 N Haverhill Road, West Palm Beach, FL 33407
Commercial Sale, West Palm Beach, FL
Property Size3,500 SF
Price / SF$285.43
Days on Market218
Property Features for 5401 N Haverhill Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IPD(ci
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Security features
Security System
Directions
Directions I95 to 45th St - West to Haverhill. Head South, Property is on right hand side.
Subdivision
5400
Standard status
Active
APN
74424302090001260
Size
3,500 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
WEST PALM BEACH COMMERCE PARK CONDOMINIUM UNIT 126
Tax Annual Amount
8598
HOA Fee
$9,600 Annually
Legal Description
WEST PALM BEACH COMMERCE PARK CONDOMINIUM UNIT 126
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
break room
Building Details
Year built
2006
Floors in Building
2
Number of units
1
Flooring type
Marble, Concrete, Tile - Ceramic
Building materials
Concrete, Pre-Cast Concrete Construction
Listing Agency:
Douglas Elliman
(561) 655-8600
Listed By:
Paul Bergman LLC · License #3248699
(310) 498-4883
Added: Feb 6
Changed: Sep 11
Last Checked: Sep 12 at 10:06AM
MLS# R11161416
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,500-square-foot industrial flex condominium combines approximately 2,500 sqft of ground-floor office, showroom, and warehouse space with an additional approximately 1,000 sqft of built-out, air-conditioned office and mezzanine area. The property includes separate warehouse and office areas on both levels, a break room, bathroom facilities, ample parking and storage, and 20-foot clear-height ceilings throughout. A 10 x 12 ft grade-level loading drive-in bay supports receiving and distribution needs. Solid concrete tilt-wall construction and a 2006 build date add to the building profile, while the roof is new.
Located on N Haverhill Road in West Palm Beach, the property provides access to I-95 and the Turnpike. Public water and public sewer serve the site, with central air and cable availability also noted.
Located on N Haverhill Road in West Palm Beach, the property provides access to I-95 and the Turnpike. Public water and public sewer serve the site, with central air and cable availability also noted.
Key Highlights
- 3,500 square feet combining office, showroom, warehouse, and mezzanine space
- Approximately 2,500 sqft of ground‑floor space plus approximately 1,000 sqft of built‑out office and mezzanine
- 20ft clear height ceilings throughout
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
$49,480
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
4.95%
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%
$989,600
$989.6K
Cap Rate 7%
$706,857
$706.9K
Cap Rate 9%
$549,778
$549.8K
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
$75.6K $21.60/SF
− Vacancy
−$4.9K −$1.40/SF
EGI
$70.7K $20.20/SF
− OpEx
−$21.2K −$6.06/SF
NOI
$49.5K $14.14/SF
Area
West Palm Beach, FL
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$989,600
Cap Rate 7%
$706,857
Cap Rate 9%
$549,778
Alternative Uses
Best Use
Retail
$706.9K
$618.5K – $824.7K
NOI $49,480 @ 7.0% cap · market cap 4.95%
Second Best
Warehouse
$556.9K
$487.3K – $649.7K
NOI $38,984 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$2.46M
$2.16M – $2.88M
NOI $172,543 @ 7.0% cap · market cap 17.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
288
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile owner-user property combining offices, showroom space, warehouse areas, and a grade-level drive-in bay.
Where is this flex space located?
The property is located at 5401 N Haverhill Road West Palm Beach, FL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 3,500 square feet combining office, showroom, warehouse, and mezzanine space; Approximately 2,500 sqft of ground‑floor space plus approximately 1,000 sqft of built‑out office and mezzanine; 20ft clear height ceilings throughout
