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    Sec Northlake Blvd & Coconut Blvd West Palm Beach, FL 33412

    Sponsored
    For Sale
    Contact for pricing

    High-visibility retail space, prime location.

    Property size:
    6,996 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    407
    This exceptional retail opportunity encompasses two high-profile pads totaling 6,996 square feet, ideally situated at the intersection of Northlake Boulevard and Coconut Boulevard in West Palm Beach, Florida (zip code 33412). Boasting excellent visibility and signage on Northlake Boulevard, which sees an average daily traffic count of 32,500 vehicles, this property benefits from a shared traffic signal with a Publix supermarket, slated for completion in the third quarter of 2024. The location is at the main entrance to the Avenir development, a thriving community featuring 3,900 homes upon full build-out, a 56,000-square-foot hospital and emergency room, a 600-student charter school, and two million square feet of office space. The property is available for sale or lease, with delivery anticipated in the second quarter of 2025. This presents a unique chance to establish a strong retail presence within a rapidly growing and affluent residential community. The property is conveniently located in Palm Beach County and offers significant potential for long-term growth and profitability. The pads are ready for immediate development and occupancy.

    Property Features for 0 Sec Northlake Blvd & Coconut Blvd

    General Information

    Property type
    Retail properties
    Square Feet
    6,996 SF

    We can help!

    Listing Contact
    Matt Lynch
    Matt Lynch

    Learn more

    HighLights

    • Two high‑profile retail pads available for sale or lease.
    • Excellent visibility and signage on Northlake Blvd (32,500 ADT).
    • Prime location at a shared traffic signal with a Publix (Q3 2024 delivery) at the main entrance to the Avenir development.
    • Avenir development includes 3,900 homes, a 56,000 SF hospital/ER, a 600‑student charter school, and 2M SF of office space.
    • Q2 2025 delivery.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.2374636
    Latitude
    26.8118816

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    FAQs

    What type of property is this?
    Retail property - High-visibility retail space, prime location.
    Where is this retail property located?
    The property is located at Sec Northlake Blvd & Coconut Blvd West Palm Beach, FL.
    What are key features of this property?
    This property features: Two high-profile retail pads available for sale or lease.; Excellent visibility and signage on Northlake Blvd (32,500 ADT).; Prime location at a shared traffic signal with a Publix (Q3 2024 delivery) at the main entrance to the Avenir development.
    (561) 424-3019
    Request Owner's contact information
    Sec Northlake Blvd & Coconut Blvd West Palm Beach, FL 33412
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    West Palm Beach, FL 33412
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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
    Sec Northlake Blvd & Coconut Blvd West Palm Beach, FL 33412
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    We can help!
    Listing Contact
    Matt Lynch
    Matt Lynch
    Real Estate License ID: FL 3276269
    (561) 424-3019
    Learn more
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