Listing Agency: WRA BUSINESS & REAL ESTATE Show Phone

Listed By: Vinny Apolinario · License #3270041 Show Phone

Source: Exprealty

Added: Jul 26 Changed: Oct 26 Last Checked: Nov 1 at 10:34AM

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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.

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 / Yr

$14,547

Cap Rate

3.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$290,940 $290.9K

Cap Rate 7%

$207,814 $207.8K

Cap Rate 9%

$161,633 $161.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,306 SF

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 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 (±1% cap)

NOI $45,526 @ 7.0% cap · market cap 10.47%

Second Best

Warehouse

$207.8K

$181.8K – $242.5K (±1% cap)

NOI $14,547 @ 7.0% cap · market cap 3.34%

Theoretical Best

Office A

$919.8K

$804.8K – $1.07M (±1% cap)

NOI $64,383 @ 7.0% cap · market cap 14.80%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Dental Office Hair Salon Restaurant Spa & Massage Center Parking Lot & Garage Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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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