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    1818 Australian Ave West Palm Beach, FL 33409

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    For Lease
    Contact for pricing

    West Palm Beach Office Space Available

    Lot size:
    56,425 SF

    Property Features for 1818 Australian Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    56,425 SF
    Class
    B
    Total Rate
    103445.83

    Spaces For Lease

    at 1818 Australian Ave, West Palm Beach, FL 33409 Contact us
    Unit Availabilities

    $22 /Mo

    Size
    6,174 SF
    Contact us

    We can help!

    Listing Contact
    Jason Sundook
    Jason Sundook

    Listing Agency: NAI Merin Hunter Codman, Inc. West Palm Beach Listing Agent: Jason Sundook

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Discover move-in ready office suites at Commerce Pointe Silver, a four-story Class B building totaling 56,425 square feet, situated on a 1.3-acre lot in West Palm Beach, Florida. This meticulously maintained property offers stunning Clear Lake views and is conveniently located off South Australian Avenue, less than a mile from I-95 and Okeechobee Boulevard. Enjoy easy access to public transportation and proximity to popular destinations such as The Square and Grandview Market, providing convenient access to dining, banking, fitness, and accommodations. The building features significantly upkept common areas, including an atrium and pond, along with on-site property management. Individual suites offer beautiful views of Clear Lake and distant views of Palm Beach. The 2024 common area maintenance (CAM) charge is $14.80 per square foot, with electricity billed separately. This prime location is less than a 10-minute drive to Palm Beach International Airport and less than a 7-minute drive to Downtown West Palm Beach, offering excellent access to arterial roads and a thriving business environment. Multiple tenancy options are available. The property's address is 1818 S Australian Ave, West Palm Beach, FL 33409, in Palm Beach County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bobby Hurley Mortgage ... Loan Service US Drug Enforcement ... Government Office Dillon A Steinman, LMHC Counselor Roush Spine Medical Clinic Positive Behavior Supports ... Crisis Center

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.071953031658
    Latitude
    26.69702704198

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    FAQs

    What type of property is this?
    Office Property / Space - West Palm Beach Office Space Available
    Where is this office property / space located?
    The property is located at 1818 Australian Ave West Palm Beach, FL.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: Well-maintained common areas and offices with Clear Lake and Palm Beach views.; Close proximity to The Square, Grandview Market, and downtown West Palm Beach.; Excellent I-95 and Okeechobee Blvd access, less than a mile away.
    (561) 471-8000 Call to check price and availability
    Request Owner's contact information
    1818 Australian Ave West Palm Beach, FL 33409
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    West Palm Beach, FL 33409
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1818 Australian Ave West Palm Beach, FL 33409
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    Contact for Pricing
    Please call us for current price
    and status of this listing Jason Sundook
    Jason Sundook
    Real Estate License ID: 602243
    (561) 471-8000 (561) 762-3131
    Learn more
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