Industrial Condo
For Sale
Contact for pricing
581 105th Ave N Unit 36, Royal Palm Beach, FL 33411
IG-zoned industrial condominium unit in a 2007 building at 581 105th Ave N.
Property Size2,400 SF
Price / SF$337.50
Days on Market130
Property Features for 581 105th Ave N Unit 36
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Industrial
Zoning
IG
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Building Details
Year Built
2007
Year Renovated
2025
Listing Agency:
Matthews
Listed By:
Michael Buonadonna · License #SL3531894
Source:
Crexi
Added: Apr 24
Changed: Aug 31
Last Checked: Aug 30 at 8:18PM
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 Matthews
Investment Insights
Based on property information with market context.
Unit 36 at 581 105th Ave N in Royal Palm Beach is a 2,400-square-foot industrial condominium within a building completed in 2007. The property carries IG zoning and is identified as an industrial property suitable for commercial evaluation within the Royal Palm Beach market.
The address places the unit in Palm Beach County, with regional access to Florida’s Turnpike and I-95. Royal Palm Beach is described as a suburban community connected to employment centers in West Palm Beach and broader county employment across healthcare, education, retail, and professional services.
The address places the unit in Palm Beach County, with regional access to Florida’s Turnpike and I-95. Royal Palm Beach is described as a suburban community connected to employment centers in West Palm Beach and broader county employment across healthcare, education, retail, and professional services.
Key Highlights
- 2,400‑square‑foot industrial condominium unit
- Unit 36 at 581 105th Ave N, Royal Palm Beach, FL 33411
- IG zoning
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
$25,910
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
3.20%
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%
$518,200
$518.2K
Cap Rate 7%
$370,143
$370.1K
Cap Rate 9%
$287,889
$287.9K
Market Conditions
NOI Build-Up for 2,400 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
$39.2K $16.32/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$37.0K $15.42/SF
− OpEx
−$11.1K −$4.63/SF
NOI
$25.9K $10.80/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$16.32 /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%
$518,200
Cap Rate 7%
$370,143
Cap Rate 9%
$287,889
Alternative Uses
Best Use
Industrial
$370.1K
$323.9K – $431.8K
NOI $25,910 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,315 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
687
Businesses Nearby
Explore this area
Business Placement
Demographics for 33411, FL
74,206
Population
30,063
Households
2.5
Avg Household Size
42
Median Age
39%
College-Educated
91%
High-School Grad
34.9 sq mi
ZIP Area
2,126
Density / Sq Mi
$89,329
Median Household Income
$46,461
Median Earnings
$1,887
Median Rent
$400,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - IG-zoned industrial condominium unit in a 2007 building at 581 105th Ave N.
Where is this industrial property located?
The property is located at 581 105th Ave N Unit 36 Royal Palm Beach, FL.
What is the asking price?
The asking price for this property is $810,000.
What are key features of this property?
This property features: 2,400‑square‑foot industrial condominium unit; Unit 36 at 581 105th Ave N, Royal Palm Beach, FL 33411; IG zoning
