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Property profile & analytics
OFF-MARKET Estimated value $1,040,000
Office buildings

117 Miller Way Lake Park, FL 33403-3009

4,048 SF 0.26 ac lot Built 1971
Entity Owned 28-yr Hold ~ Est. High Equity
Property ID
US18-4749632
Property summary
AI-generated overview

This exceptional commercial property, located at 117 Miller Way in West Palm Beach, Florida, 33403, presents a unique opportunity for businesses seeking a blend of modern office space and ample warehouse facilities. The complex comprises two buildings totaling 10,078 square feet, offering a single-tenant occupancy arrangement. The property features 4,078 square feet of newly constructed, high-quality office space, ideal for a variety of business needs. Complementing the office area is a substantial 6,000-square-foot warehouse, providing ample storage and operational space. This strategic location in Lake Park offers convenient access to major highways, ensuring seamless transportation and logistics. The supportive community environment fosters business growth and success, making this property an attractive investment for companies seeking a functional and well-situated base of operations. The property is classified as both Office and Industrial, with a Traditional Office and Warehouse subtype. This combined offering provides a versatile and efficient workspace, perfectly suited for businesses requiring both office and storage capabilities. The property's address is 117 Miller Way, West Palm Beach, FL 33403.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1971
Construction CONCRETE
Total area 4,048 SF
Lot 0.26 ac (11,238 SF)
Zoning code CLIC
APN 36-43-42-20-07-003-0031
UPID US18-4749632
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.43M
Blend (final) Blend
$1.04M
Owner & transaction history
Metropolitan Properties INC · 28 yrs held
Metropolitan Properties INC
since 1998
7 recorded transactions
2018
Price N/A
2007
Price N/A
2006
Price N/A
1998
$82,500
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
CLIC · Lake Park, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

It is the purpose of the CLIC district to allow the development of a mixed use, campus light industrial or commercial employment center. The location of this district abutting the MU mixed use residential or commercial or light industrial district provides opportunities for employment in close proximity to higher population densities, thereby promoting walk…

Zone name Campus Light Industrial And Commercial
General category MIXED_USE
Zone area 150.65 ac
Source Realmo
Top alternative use upside
Retail stores $1.6M +0.5%
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