Office Unit with Private
For Sale
$579,900
9200 Belvedere Road, Royal Palm Beach, FL
Commercial Sale, Royal Palm Beach, FL
Property Size1,230 SF
Price / SF$471.46
Days on Market161
Property Features for 9200 Belvedere Road
General Information
Property type
Residential
Property subtype
Office
Zoning
IL(cit
Parking
10
Security features
Security System
Subdivision
5580
Standard status
Active
APN
72424331100032070
Size
1,230 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
ROYAL PALM BUSINESS PLAZA CONDO UNIT C207
Tax Annual Amount
5493
HOA Fee
$1,252 Quarterly
Legal Description
ROYAL PALM BUSINESS PLAZA CONDO UNIT C207
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2007
Floors in Building
2
Number of units
1
Flooring type
Tile
Building materials
CBS
Listing Agency:
United Realty Group Inc
(561) 868-1930
Listed By:
Jeremy H Dysch · License #3067579
(561) 351-6843
Added: Apr 13
Changed: Sep 13
Last Checked: Sep 20 at 7:06PM
MLS# B26014706
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 1,230-square-foot office condo provides a furnished professional setting with four private executive offices, a dedicated conference room, and an open area for collaborative work. Two bathrooms support the suite, while tile flooring, CBS construction, central heating, and central air with electric cooling complete the existing improvements. The property was built in 2007.
Located at 9200 Belvedere Road in Royal Palm Beach, the suite has public water and public sewer service, with cable available. The property is identified with IL(cit zoning and offers a compact office configuration for an owner-user or occupier seeking multiple enclosed rooms alongside shared workspace.
Located at 9200 Belvedere Road in Royal Palm Beach, the suite has public water and public sewer service, with cable available. The property is identified with IL(cit zoning and offers a compact office configuration for an owner-user or occupier seeking multiple enclosed rooms alongside shared workspace.
Key Highlights
- 1,230‑square‑foot office condo
- Four private executive offices
- Conference room and open collaboration area
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
$32,601
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
5.62%
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%
$652,020
$652.0K
Cap Rate 7%
$465,729
$465.7K
Cap Rate 9%
$362,233
$362.2K
Market Conditions
NOI Build-Up for 1,230 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
$56.1K $45.60/SF
− Vacancy
−$12.6K −$10.26/SF
EGI
$43.5K $35.34/SF
− OpEx
−$10.9K −$8.84/SF
NOI
$32.6K $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%
$652,020
Cap Rate 7%
$465,729
Cap Rate 9%
$362,233
Alternative Uses
Best Use
Office B
$465.7K
$407.5K – $543.4K
NOI $32,601 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$866.2K
$758.0K – $1.01M
NOI $60,636 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
489
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Furnished office condo with executive rooms, conference space, collaboration area, and two bathrooms.
Where is this office units located?
The property is located at 9200 Belvedere Road Royal Palm Beach, FL.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: 1,230‑square‑foot office condo; Four private executive offices; Conference room and open collaboration area
