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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11380 Prosperity Farms Rd Palm Beach Gardens, FL 33410

    • Office buildings
    • 1,266 SF
    For Lease
    View listing
    $0.13 SF/Yr
    Last Sale
    Nov 01, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0940528
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 11380 Prosperity Farms Rd

    Year built
    1986
    Construction
    CONCRETE BLOCKS
    Property size
    1,266 SF
    Property type
    Office buildings
    APN
    52-43-42-05-18-004-1131
    APU
    52434205180041131

    Description

    This exceptional 2,700 square foot office condo, located at 11380 Prosperity Farms Road, presents a unique investment opportunity. Situated on a prominent corner lot at the intersection of PGA Boulevard and Prosperity Farms Road, this property benefits from unparalleled visibility and accessibility. Currently configured as a single medical office suite with nine individual offices, the space offers remarkable flexibility. It can easily function as a single large unit or be subdivided into two separate units, catering to diverse business needs. The property's layout is highly adaptable, allowing for customization to suit various professional uses. Its strategic location provides convenient access to major retail destinations including The Gardens Mall, Downtown Palm Beach Gardens, Legacy Place, and PGA Commons. Furthermore, it enjoys close proximity to affluent residential areas such as PGA National and Marisol, ensuring a strong potential client base. The property's excellent location offers easy access to major transportation arteries, including A1A, PGA Boulevard, I-95, and the Turnpike, enhancing its overall appeal and accessibility. The property is zoned PO and has an APN of 52434205180022040. This is a rare opportunity to acquire a well-situated, versatile office space in a thriving area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Palm Beach Gardens
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0715
    Latitude
    26.8418
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $6,087
    $0.00
    $320,299
    $320,299
    -
    $0.00
    $320,299
    $320,299

    Comparable in this City

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    • Value Estimation
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    • Value Estimation
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      8371 Military Trl, West Palm Beach, FL 33410-6300
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    • Value Estimation
      $46,580,000
      104,400 SF

      3910 Rca Blvd Ste, Unit 1001

      OFFICE BUILDING (MULTI-STORY) • 104,400 SF
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      View Details
    • Value Estimation by Request

      11211 Prosperity Farms Rd Ste B203

      OFFICE BUILDING
      11211 Prosperity Farms Rd Ste B203, Palm Beach Gardens, FL 33410-3401
      View Details
    • Value Estimation
      $1,465,000
      5,678 SF

      4361 Northlake Blvd

      OFFICE BUILDING (MULTI-STORY) • 5,678 SF
      4361 Northlake Blvd, Palm Beach Gardens, FL 33410-6253
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $48 SF/Yr
      80,000 SF

      Renovated Palm Beach Gardens Office

      Ten-story office building with excellent access and fantastic amenities.
      4400 Pga Blvd, West Palm Beach, FL 33410
      View Details
    • $0.13 SF/Yr
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      Prosperity Farms Road Office Condo

      Prime PGA Blvd location, 2,700 sq ft.
      11380 Prosperity Farms Rd, Palm Beach Gardens, FL 33410
      View Details
    • $18 SF/Yr
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      Palm Beach Gardens Office Space

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    • $21 SF/Yr
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    • $22 SF/Yr
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      Prime Office Space in Gardens

      Move-in ready office space with convenient highway access and amenities.
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      View Details
    • $32 SF/Yr

      Office Space For Lease

      Office space available for lease in Palm Beach Gardens, FL.
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      View Details
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    Palm Beach Gardens, FL 33410
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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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