Corner Unit Office
For Sale
$385,000
721 Us Highway 1 116-117, North Palm Beach, FL 33408
Ground floor office suite in North Palm Beach location.
Property Size1,200 SF
Lot Size2.00 Acres
Days on Market275
Property Features for 721 Us Highway 1 116-117
General Information
Standard status
Active
Size
1,200 SF
Lot size
2.00 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,658
Building Details
Building Size
1,200 SF
Year Built
1973
Stories
2
Units
48
Listing Agency:
Touchstone Webb Realty Company
(561) 358-6868
Listed By:
Lauren Thomas Friel · License #3379509
(561) 358-6868
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 26
Last Checked: Aug 29 at 2:38PM
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 Touchstone Webb Realty Company
Investment Insights
Based on property information with market context.
This 1,200 square foot ground floor corner unit office suite is located in the Squires Building. It is suitable for an owner-user or investor. The suite features a new 2025 HVAC system, fresh paint, and tile flooring throughout. The turnkey corner unit offers a bright and functional ground-floor office space with extra windows. The layout includes two reception areas, four private offices, a kitchenette with a sink, two private restrooms, and a conference room with built-in shelving. The unit consists of two combined suites (116-117), each with its own entrance, providing the flexibility to occupy the entire space or easily separate them as needed. Front and rear parking is available for staff and clients. The property is situated in a prime North Palm Beach location, near La Bamba and Draft House.
Key Highlights
- Turnkey 1,200 SF ground floor corner unit with extra windows.
- Two combined suites (116‑117) with separate entrances, offering flexibility for single or dual occupancy.
- Brand new 2025 HVAC system.
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
$31,806
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
8.26%
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%
$636,120
$636.1K
Cap Rate 7%
$454,371
$454.4K
Cap Rate 9%
$353,400
$353.4K
Market Conditions
NOI Build-Up for 1,200 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
$54.7K $45.60/SF
− Vacancy
−$12.3K −$10.26/SF
EGI
$42.4K $35.34/SF
− OpEx
−$10.6K −$8.84/SF
NOI
$31.8K $26.51/SF
Area
Palm Beach County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$636,120
Cap Rate 7%
$454,371
Cap Rate 9%
$353,400
Alternative Uses
Best Use
Office B
$454.4K
$397.6K – $530.1K
NOI $31,806 @ 7.0% cap · market cap 8.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$845.1K
$739.5K – $986.0K
NOI $59,158 @ 7.0% cap · market cap 15.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 33408, FL
18,965
Population
13,490
Households
1.4
Avg Household Size
58
Median Age
52%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
2,789
Density / Sq Mi
$91,390
Median Household Income
$65,606
Median Earnings
$1,885
Median Rent
$502,900
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?
Office units - Ground floor office suite in North Palm Beach location.
Where is this office units located?
The property is located at 721 Us Highway 1 116-117 North Palm Beach, FL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Turnkey 1,200 SF ground floor corner unit with extra windows.; Two combined suites (116‑117) with separate entrances, offering flexibility for single or dual occupancy.; Brand new 2025 HVAC system.
