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    12535 Northlake Blvd West Palm Beach, FL 33412

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    12535 Northlake Blvd West Palm Beach, FL 33412

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    • Retail properties & Spaces
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    Cap Rate Potential
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    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 12535 Northlake Blvd

    Year built
    2024
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    Avenir Town Center offers exceptional retail and restaurant opportunities in West Palm Beach, Florida. This Class A, Publix-anchored shopping center, opening Fall 2024, is ideally situated at 12535 Northlake Blvd, near Coconut Blvd, in the rapidly growing 33412 zip code. The center provides multiple tenancy options, with spaces ranging from a minimum of 1,000 square feet to a maximum contiguous space of 100,000 square feet. This presents a unique chance for businesses of various sizes to establish a presence in a thriving community. The property benefits from its proximity to thousands of existing single-family homes, with thousands more under construction, ensuring a robust and expanding customer base. Palm Beach County's strong economic growth further enhances the investment potential of this exceptional retail location. The property's "Retail, Restaurant, Service" subtype designation highlights its versatility and suitability for a wide range of businesses. This is a truly remarkable opportunity to secure a space in a brand-new, high-demand shopping center in one of Florida's most desirable areas. Contact us today to learn more about available spaces and leasing options.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.2364
    Latitude
    26.814

    Comparable in this City

    • Value Estimation by Request
      6,966 SF

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      Retail properties & Spaces • 6,966 SF
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    • Value Estimation by Request
      6,996 SF

      Sec Northlake Blvd & Coconut Blvd

      Retail properties & Spaces • 6,996 SF
      0 Sec Northlake Blvd & Coconut Blvd, West Palm Beach, FL 33412
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      11200 Aviation Blvd

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      1,156 SF

      11050 Northlake Blvd

      SHOW ROOM, WAREHOUSE • 1,156 SF
      11050 Northlake Blvd, West Palm Beach, FL 33412
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    • Value Estimation
      $3,540,000
      13,003 SF

      8100 Ibis Blvd

      SHOW ROOM, WAREHOUSE • 13,003 SF
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    • Value Estimation by Request
      400 SF

      11998 Northlake Blvd

      SHOW ROOM, WAREHOUSE • 400 SF
      11998 Northlake Blvd, West Palm Beach, FL 33412
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    Similar Nearby for Sale

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      Retail Pads For Sale

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    • $3,940,000
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      Land Parcel in West Palm Beach

      Land available in West Palm Beach, Florida.
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    Similar Nearby for Lease

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      1,400 SF

      Restaurant End Cap with Patio

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      13,575 SF

      Retail, Restaurant, Office Space Available

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      12500 Northlake Blvd, West Palm Beach, FL 33412
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      3,130 SF

      Retail Space in West Palm

      Retail, restaurant, and office spaces available near affluent neighborhoods.
      12650 Northlake Blvd, West Palm Beach, FL 33412
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      Retail Pads For Lease

      Retail pads available for lease in Palm Beach Gardens, FL.
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      Retail Pads For Lease

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    • Contact for pricing
      14,942 SF

      Retail Space in West Palm

      Retail, restaurant, and office spaces available near affluent neighborhoods.
      12800 Northlake 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
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