Renovated Flex Space with
For Sale
$435,000
I-2-2755 Vista Pkwy, West Palm Beach, FL 33411
Two-level commercial unit combines finished office space with warehouse functionality.
Property Size1,306 SF
Price / SF$333.08
Days on Market19
Property Features for I-2-2755 Vista Pkwy
General Information
Standard status
Active
Size
1,306 SF
Elevators
Yes
Additional Details
Floor
1-2
Highway Access
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$4,977
Amenities
elevator
fenced park
security cameras
on-site fuel station
car wash
Listing Agency:
WRA BUSINESS & REAL ESTATE
(407) 371-2227
Listed By:
Vinny Apolinario · License #3270041
(407) 371-2227
Source:
Exprealty
Added: Jul 26
Changed: Aug 11
Last Checked: Aug 12 at 12:52PM
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 WRA BUSINESS & REAL ESTATE
Investment Insights
Based on property information with market context.
This 1,306 SF flex space combines a first-floor warehouse with a finished second-floor office area. The office buildout includes a lobby, private office, and bathroom, while the warehouse provides a front entry, a large rear roll-up door, and interior stairs connecting to the upper level. An elevator opens directly in front of the office door. Recent improvements include new flooring, baseboards, and interior paint throughout.
The property is located within a fenced business park on Vista Pkwy with security cameras, ample parking, an on-site fuel station, and a car wash. Access to the Turnpike and I-95 supports regional connectivity for office and warehouse operations.
The property is located within a fenced business park on Vista Pkwy with security cameras, ample parking, an on-site fuel station, and a car wash. Access to the Turnpike and I-95 supports regional connectivity for office and warehouse operations.
Key Highlights
- 1,306 SF flex space with office and warehouse areas
- Second‑floor office buildout includes lobby, office, and bathroom
- First‑floor warehouse has front entry and large rear 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
$14,547
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
3.34%
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%
$290,940
$290.9K
Cap Rate 7%
$207,814
$207.8K
Cap Rate 9%
$161,633
$161.6K
Market Conditions
NOI Build-Up for 1,306 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
$18.8K $14.40/SF
− Vacancy
−$1.7K −$1.30/SF
EGI
$17.1K $13.10/SF
− OpEx
−$2.6K −$1.97/SF
NOI
$14.5K $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%
$290,940
Cap Rate 7%
$207,814
Cap Rate 9%
$161,633
Alternative Uses
Best Use
Office B
$650.4K
$569.1K – $758.8K
NOI $45,526 @ 7.0% cap · market cap 10.47%
Second Best
Warehouse
$207.8K
$181.8K – $242.5K
NOI $14,547 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$919.8K
$804.8K – $1.07M
NOI $64,383 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,064
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33411, FL
74,206
Population
30,063
Households
2.5
Avg Household Size
42
Median Age
39%
College-Educated
91%
High-School Grad
34.9 sq mi
ZIP Area
2,126
Density / Sq Mi
$89,329
Median Household Income
$46,461
Median Earnings
$1,887
Median Rent
$400,900
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.
Similar Off Market Nearby
- Paella Man Catering — 1424 Fair Green Rd, West Palm Beach, FL 33417
Frequently Asked Questions
What type of property is this?
Flex space - Two-level commercial unit combines finished office space with warehouse functionality.
Where is this flex space located?
The property is located at I-2-2755 Vista Pkwy West Palm Beach, FL.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 1,306 SF flex space with office and warehouse areas; Second‑floor office buildout includes lobby, office, and bathroom; First‑floor warehouse has front entry and large rear roll‑up door
