Flex Space with Roll-Up
For Sale
$690,000
G-352 Tall Pines Rd, West Palm Beach, FL 33413
Light-industrial property combines an air-conditioned office with open storage and work areas.
Property Size2,119 SF
Price / SF$325.63
Days on Market18
Property Features for G-352 Tall Pines Rd
General Information
Standard status
Active
Size
2,119 SF
Zoning
IL
Additional Details
Highway Access
Yes
Clear Height
20 ft
Taxes and HOA fees
Annual Taxes
$5,656
Building Details
Year Built
2002
Buildings
1
Construction
CBS
Listing Agency:
Beachfront Properties Real Estate LLC
(386) 569-5466
Listed By:
Ioannis Frygoudakis
(386) 569-5466
Source:
Exprealty
Added: Aug 14
Changed: Aug 30
Last Checked: Aug 30 at 7:42PM
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 Beachfront Properties Real Estate LLC
Investment Insights
Based on property information with market context.
This 2,119 SF flex space provides a practical combination of office, workspace, and warehouse functions. The interior includes an air-conditioned office and work area, a professional storefront entrance, and an open storage or production area with 20' clear ceilings. A 10'x12' roll-up door supports loading and material movement. Built in 2002 with CBS construction and a twin T roof, the building is zoned IL, or Light Industrial.
The property is near Southern Blvd and Jog Road, east of Florida's Turnpike and with access to I-95. Its configuration is suited to industrial and service-oriented operations requiring both finished office space and functional storage or work areas.
The property is near Southern Blvd and Jog Road, east of Florida's Turnpike and with access to I-95. Its configuration is suited to industrial and service-oriented operations requiring both finished office space and functional storage or work areas.
Key Highlights
- 2,119 SF flex space zoned IL (Light Industrial)
- 20' clear ceilings in the open storage/work area
- 10'x12' roll‑up door
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
$23,602
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
3.42%
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%
$472,040
$472.0K
Cap Rate 7%
$337,171
$337.2K
Cap Rate 9%
$262,244
$262.2K
Market Conditions
NOI Build-Up for 2,119 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
$30.5K $14.40/SF
− Vacancy
−$2.7K −$1.30/SF
EGI
$27.8K $13.10/SF
− OpEx
−$4.2K −$1.97/SF
NOI
$23.6K $11.14/SF
Area
West Palm Beach, FL
Vacancy
9.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
15.00%
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%
$472,040
Cap Rate 7%
$337,171
Cap Rate 9%
$262,244
Alternative Uses
Best Use
Warehouse
$337.2K
$295.0K – $393.4K
NOI $23,602 @ 7.0% cap · market cap 3.42%
Second Best
Flex RnD
$297.5K
$260.3K – $347.1K
NOI $20,826 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,462 @ 7.0% cap · market cap 15.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33413, FL
17,503
Population
6,217
Households
2.8
Avg Household Size
36
Median Age
27%
College-Educated
86%
High-School Grad
7.2 sq mi
ZIP Area
2,431
Density / Sq Mi
$80,527
Median Household Income
$41,644
Median Earnings
$2,016
Median Rent
$405,900
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.
Similar Off Market Nearby
- Catering Solutions — 352 Tall Pines Rd Suite F, West Palm Beach, FL 33413
- Wellington Hospitality Group — 352 Tall Pines Rd Suite F, West Palm Beach, FL 33413
Frequently Asked Questions
What type of property is this?
Flex space - Light-industrial property combines an air-conditioned office with open storage and work areas.
Where is this flex space located?
The property is located at G-352 Tall Pines Rd West Palm Beach, FL.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: 2,119 SF flex space zoned IL (Light Industrial); 20' clear ceilings in the open storage/work area; 10'x12' roll‑up door
