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    358 Hiatt Dr Palm Beach Gardens, FL 33418

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    358 Hiatt Dr Palm Beach Gardens, FL 33418

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    • Warehouses
    • 50,022 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 358 Hiatt Dr

    Property size
    50,022 SF
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This Class A, 50,022-square-foot industrial warehouse in Palm Beach Gardens, Florida, offers multiple tenancy options within the Gardens Innovation Center. Located at 358 Hiatt Dr, 33418, this brand-new building boasts a 32-foot ceiling height, making it ideal for various industrial uses. Units are divisible down to approximately 11,299 square feet, with the largest contiguous space encompassing the entire 50,022 square feet. The building features 20 dock-high doors and 2 drive-in doors, providing ample loading and unloading capabilities. End bays include 12' x 14' drive-in ramp doors and a minimum of four docks per bay. A significant benefit is the inclusion of approximately 11,200 square feet of office space within the minimum divisible unit. This property is situated in the desirable PGA National Park of Commerce, making it a highly sought-after location in Palm Beach County. The building comprises four total suites, presenting a unique opportunity for businesses seeking efficient and modern warehouse space in a prime location. This small bay warehouse is a rare find in Palm Beach County and is expected to be in high demand.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Palm Beach Gardens
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.1321
    Latitude
    26.8125

    Comparable in this City

    • Value Estimation
      $24,525,000
      74,372 SF

      354 Hiatt Dr

      DISTRIBUTION WAREHOUSE • 74,372 SF
      354 Hiatt Dr, Palm Beach Gardens, FL 33418-7236
      View Details
    • Value Estimation
      $1,115,000
      7,075 SF

      351 Hiatt Dr

      MANUFACTURING (LIGHT) • 7,075 SF
      351 Hiatt Dr, Palm Beach Gardens, FL 33418-7106
      View Details
    • Value Estimation by Request
      0.69 Acres

      Palm Beach

      GOLF COURSE • 0.69 Acres
      Palm Beach, Gardens, FL 33418
      View Details
    • Value Estimation
      $7,570,000
      27,388 SF

      4580 Pga Blvd

      RETAIL STORES (PERSONAL SERVICES) • 27,388 SF
      4580 Pga Blvd, Palm Beach Gardens, FL 33418-3920
      View Details
    • Value Estimation
      $870,000
      10,000 SF

      7020 Fairway Dr

      DAY CARE, PRE-SCHOOL • 10,000 SF
      7020 Fairway Dr, Palm Beach Gardens, FL 33418-3775
      View Details
    • Value Estimation
      $1,075,000
      25,257 SF

      13535 Eastpointe Blvd

      COUNTRY CLUB • 25,257 SF
      13535 Eastpointe Blvd, Palm Beach Gardens, FL 33418-1499
      View Details

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      11,299 SF

      New Industrial Warehouse in Gardens

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      358 Hiatt Dr, Palm Beach Gardens, FL 33418
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      2nd Generation Restaurant Endcap plus Patio Area

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      High-End Office Park

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    Palm Beach Gardens, FL 33418
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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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