Riviera Beach Industrial Property For
For Sale
$5,950,000
6861 Garden Road, Riviera Beach, FL 33404
16,025 SF industrial property on 1.47 acres.
Property Size16,025 SF
Lot Size1.47 Acres
Price / SF$371.29
Days on Market122
Property Features for 6861 Garden Road
General Information
Standard status
Active
Size
16,025 SF
Lot size
1.47 Acres
Zoning
IG(cit
Taxes and HOA fees
Annual Taxes
$45,017
Building Details
Building Size
16,025 SF
Year Built
1988
Stories
2
Listing Agency:
Keller Williams Realty Jupiter
(561) 339-3002
Listed By:
Kim Cuomo · License #0662253
(561) 339-3002
Source:
Laerrealty
Added: Apr 24
Changed: Aug 23
Last Checked: Aug 23 at 9:50AM
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 Keller Williams Realty Jupiter
Investment Insights
Based on property information with market context.
This industrial property offers 16,025 square feet of space on a 1.47-acre corner lot. The property is located directly on Garden Road, which sees over 10,000 vehicles per day, and has access from Blue Heron Boulevard, a commercial corridor with over 55,000 vehicles per day. Zoned IG, the site supports a wide range of industrial and business uses. The building features over 5,000 square feet of professional office space, including over 12 offices, storage spaces, workstations, a lobby, conference rooms, and kitchen facilities. The warehouse space is 10,000 square feet and includes 4 overhead doors, a loading dock, and a large, secured lot for additional storage. Additional features include impact windows and doors, fire sprinklers, heavy 3-phase power, and a 22-foot clear height. The property is somewhat bikeable with a bike score of 34 and has some transit options with a transit score of 31. The property is car-dependent with a walk score of 14.
Key Highlights
- Prime corner‑lot location on Garden Road, high visibility with great access.
- 16,025 sq ft industrial building on 1.47 acres, great for owner‑users or investors.
- IG zoning supports various industrial and business uses.
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
$352,486
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
5.92%
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%
$7,049,720
$7.0M
Cap Rate 7%
$5,035,514
$5.0M
Cap Rate 9%
$3,916,511
$3.9M
Market Conditions
NOI Build-Up for 16,025 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
$576.9K $36.00/SF
− Vacancy
−$34.6K −$2.16/SF
EGI
$542.3K $33.84/SF
− OpEx
−$189.8K −$11.84/SF
NOI
$352.5K $22.00/SF
Area
Palm Beach County, FL
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
35.00%
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%
$7,049,720
Cap Rate 7%
$5,035,514
Cap Rate 9%
$3,916,511
Alternative Uses
Best Use
Flex RnD
$5.04M
$4.41M – $5.87M
NOI $352,486 @ 7.0% cap · market cap 5.92%
Second Best
Industrial
$2.47M
$2.16M – $2.88M
NOI $173,001 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$11.29M
$9.87M – $13.17M
NOI $789,999 @ 7.0% cap · market cap 13.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33404, FL
31,869
Population
15,990
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
87%
High-School Grad
7.3 sq mi
ZIP Area
4,366
Density / Sq Mi
$60,225
Median Household Income
$35,521
Median Earnings
$1,507
Median Rent
$305,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - 16,025 SF industrial property on 1.47 acres.
Where is this flex space located?
The property is located at 6861 Garden Road Riviera Beach, FL.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: Prime corner‑lot location on Garden Road, high visibility with great access.; 16,025 sq ft industrial building on 1.47 acres, great for owner‑users or investors.; IG zoning supports various industrial and business uses.
