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    6076 Okeechobee Blvd West Palm Beach, FL 33417
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    6076 Okeechobee Blvd West Palm Beach, FL 33417

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    • Office properties & Spaces
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Perez-Mcarthur Vivian A DO / Pediatrician / Physician
    • Fit Body Boot Camp / Gym & Fitness Center
    • Affordable Dentures & Implants / Dental Office
    • VAVAA SATISFACTION BEAUTY BAR / Hair Salon
    • CHEEKY FITNESS Personal Training Pole Dancing & Fitness / Training Center

    Property Details for 6076 Okeechobee Blvd

    Year built
    1980
    Property type
    Office properties & Spaces

    Description

    This exceptional 1980-built executive office space, located at 6076 Okeechobee Blvd, West Palm Beach, FL 33417, is offered at $125,000. The property boasts a unique history as a well-established dance and fitness studio, currently operating with a substantial client base. The main studio area is generously sized and equipped for various disciplines including pole dancing, chair dancing, and aerial yoga. A secondary room, fully outfitted as a gym, includes exercise machines and weights, providing immediate income-generating potential for a new owner. This turnkey operation is ready for immediate use, eliminating the need for extensive setup or renovations. The seller is motivated and financing options may be available. The property's prime location in Palm Beach County offers excellent visibility and accessibility. This presents a rare opportunity to acquire a profitable business with existing clientele and equipment, minimizing start-up costs and maximizing return on investment. Serious inquiries are encouraged. Please note that the property is currently in operation, and viewing should be scheduled with consideration for ongoing classes.

    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
    -80.137
    Latitude
    26.7053

    Comparable in this City

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      $5,655,000
      23,060 SF

      5849 Okeechobee Blvd

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      5849 Okeechobee Blvd, West Palm Beach, FL 33417-4352
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    • Value Estimation
      $1,035,000
      7,056 SF

      4714 Okeechobee Blvd

      MEDICAL BUILDING • 7,056 SF
      4714 Okeechobee Blvd, West Palm Beach, FL 33417-4626
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    • Value Estimation by Request
      1,228 SF

      5589 Okeechobee Blvd Ste, Unit 101

      OFFICE BUILDING • 1,228 SF
      5589 Okeechobee Blvd Ste, West Palm Beach, FL 33417-4486
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    • Value Estimation
      $685,000
      3,360 SF

      4678 Okeechobee Blvd

      MEDICAL BUILDING • 3,360 SF
      4678 Okeechobee Blvd, West Palm Beach, FL 33417-4624
      View Details
    • Value Estimation
      $515,000
      1,563 SF

      5589 Okeechobee Blvd Ste, Unit 105

      OFFICE BUILDING • 1,563 SF
      5589 Okeechobee Blvd Ste, West Palm Beach, FL 33417-4486
      View Details
    • Value Estimation
      $2,320,000
      6,150 SF

      4375 Easley Dr

      OFFICE BUILDING (MULTI-STORY) • 6,150 SF
      4375 Easley Dr, West Palm Beach, FL 33417-8105
      View Details

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      West Palm Beach Retail/Office Space

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      West Palm Beach Office/Retail Opportunity

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    West Palm Beach, FL 33417
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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.

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