West Palm Beach Investment
For Sale
$1,500,000
Pending
5509 & 5501 Broadway, West Palm Beach, FL 33407
Two adjacent commercial properties in West Palm Beach for sale.
Property Size5,147 SF
Lot Size0.53 Acres
Days on Market166
Property Features for 5509 & 5501 Broadway
General Information
Standard status
Pending
Size
5,147 SF
Total Parking Spaces
27
Lot size
0.53 Acres
Zoning
BMUD TYP
Taxes and HOA fees
Annual Taxes
$8,084
Building Details
Building Size
5,147 SF
Year Built
1948
Buildings
2
Stories
1
Listing Agency:
Align Right Realty K1 Group
(954) 588-7257
Listed By:
Sandra Piquant
(954) 588-7257
Source:
Laerrealty
Added: Mar 12
Changed: Aug 23
Last Checked: Jul 23 at 11:16AM
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 Align Right Realty K1 Group
Investment Insights
Based on property information with market context.
Located in West Palm Beach, this offering presents an investment opportunity consisting of two adjacent commercial properties at 5509 & 5501 Broadway. The properties, identified by Folio Numbers 74434304080620050 and 74434304080620010, are being sold together. The combined building area is approximately 5,147 square feet, situated on a total land area of 22,812 square feet, which is approximately 0.53 acres. The properties are positioned along Broadway Avenue, a high-traffic thoroughfare, providing visibility and accessibility. The location is minutes from Downtown West Palm Beach, the Northwood Historic District, and I-95. The properties are suitable for retail, office, medical, professional, or redevelopment purposes, offering potential for investors, developers, or owner-users seeking a mixed-use opportunity in a growing commercial corridor.
Key Highlights
- Two adjacent commercial properties being sold together, offering a combined 5,147 sq. ft. building area and 22,812 sq. ft. land size.
- Located on high‑traffic Broadway Avenue with excellent visibility and accessibility.
- Strategically located minutes from Downtown West Palm Beach, the Northwood Historic District, and I‑95.
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
$78,131
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
5.21%
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%
$1,562,620
$1.6M
Cap Rate 7%
$1,116,157
$1.1M
Cap Rate 9%
$868,122
$868.1K
Market Conditions
NOI Build-Up for 5,147 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
$135.9K $26.40/SF
− Vacancy
−$10.9K −$2.11/SF
EGI
$125.0K $24.29/SF
− OpEx
−$46.9K −$9.11/SF
NOI
$78.1K $15.18/SF
Area
West Palm Beach, FL
Vacancy
8.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
37.50%
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%
$1,562,620
Cap Rate 7%
$1,116,157
Cap Rate 9%
$868,122
Alternative Uses
Best Use
Office B
$2.56M
$2.24M – $2.99M
NOI $179,418 @ 7.0% cap · market cap 11.96%
Second Best
Mixed Use
$1.12M
$976.6K – $1.30M
NOI $78,131 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$3.62M
$3.17M – $4.23M
NOI $253,736 @ 7.0% cap · market cap 16.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two adjacent commercial properties in West Palm Beach for sale.
Where is this mixed-use property located?
The property is located at 5509 & 5501 Broadway West Palm Beach, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Two adjacent commercial properties being sold together, offering a combined 5,147 sq. ft. building area and 22,812 sq. ft. land size.; Located on high‑traffic Broadway Avenue with **excellent visibility and accessibility**.; Strategically located minutes from Downtown West Palm Beach, the Northwood Historic District, and I‑95.
