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

    1700 45Th St West Palm Beach, FL 33407

    • Community centers
    • 13,668 SF
    • 8.20 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Value Estimations
    $1,260,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3620478
    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

    • IN HIS PRESENCE DELIVERANCE MINISTRIES INC / Association / Organization
    • Liberty Christian Outreach / Religious Organization
    • Beulahland Relevant Word Church / Church
    • Sea2see Island Shipping Llc / Shipping Company
    • U-Haul Neighborhood Dealer / Truck Rental Agency / Trailer Rental Service

    Property Details for 1700 45Th St

    Year built
    1985
    Construction
    CONCRETE
    Lot size
    8.20 lot acres
    Property size
    13,668 SF
    Zone code
    NC
    Property type
    Community centers
    APN
    74-43-43-05-01-028-0011
    APU
    74434305010280011

    Description

    45th Street Plaza presents a compelling investment opportunity in the thriving West Palm Beach market. This Class B property, built in 1985, encompasses 118,000 square feet across four buildings situated at 1700 45th St, West Palm Beach, FL 33407. The property is zoned NC - Neighborhood Commercial within Palm Beach County and enjoys a convenient location one mile east of I-95, providing excellent accessibility. The plaza offers a diverse mix of retail, office, and restaurant spaces, currently featuring multiple tenancies. Six individual spaces are immediately available, ranging in size from 1,260 to 12,000 square feet, catering to a variety of business needs. The property's traditional and creative office subtypes make it suitable for a wide range of tenants. Its strategic location at the intersection of 45th Street and Australian Avenue ensures high visibility and accessibility for businesses. This vibrant neighborhood shopping center benefits from the accelerated growth experienced throughout West Palm Beach, making it an attractive proposition for both established businesses and new ventures. The property's diverse tenant mix and convenient location contribute to its strong potential for sustained growth and profitability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,260,000

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

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0793
    Latitude
    26.7526
    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
    $130,486
    $4,500,000
    $0.00
    $4,500,000
    -
    $4,500,000
    $0.00
    $4,500,000

    Comparable in this City

    • Value Estimation
      $1,560,000
      36,200 SF

      5335 Military Trl

      MINI-MALL • 36,200 SF
      5335 Military Trl, West Palm Beach, FL 33407-3058
      View Details
    • Value Estimation
      $890,000
      33,339 SF

      1225 45th St

      MINI-MALL • 33,339 SF
      1225 45th St, Mangonia Park, FL 33407-2120
      View Details
    • Value Estimation
      $1,090,000
      137,900 SF

      4295 45th St

      WHOLESALE OUTLET, DISCOUNT STORE • 137,900 SF
      4295 45th St, West Palm Beach, FL 33407-1859
      View Details
    • Value Estimation
      $430,000
      2,496 SF

      5112 Broadway

      SHOPPING CENTER, STRIP CENTER • 2,496 SF
      5112 Broadway, West Palm Beach, FL 33407-2806
      View Details
    • Value Estimation
      $535,000
      5,840 SF

      2600 Broadway

      SHOPPING CENTER, STRIP CENTER • 5,840 SF
      2600 Broadway, West Palm Beach, FL 33407-5466
      View Details
    • Value Estimation
      $430,000
      2,973 SF

      524 24th St

      SHOPPING CENTER, STRIP CENTER • 2,973 SF
      524 24th St, West Palm Beach, FL 33407-5404
      View Details

    Similar Nearby for Sale

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      BRYN MAWR: Prime West Palm Beach Land

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      BRYN MAWR: Prime West Palm Beach Land

      Vacant Land, Development Opportunity, 54,768 SF
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      West Palm Beach Mixed-Use Redevelopment

      Prime location, vacant, redevelopment opportunity.
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    Similar Nearby for Lease

    • $25 SF/Yr
      125,000 SF

      5335 Military Trl

      Lifestyle centers • 125,000 SF
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      View Details
    • $16 SF/Yr
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      Metrocentre Corporate Park Office Space

      West Palm Beach office space, ideal for medical or professional use.
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    • Contact for pricing
      1,608 SF

      Restaurant & Retail Space Available

      Prime restaurant and retail space with expansive outdoor areas.
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      1,757 SF

      Restaurant & Retail Space Available

      Prime restaurant and retail space with expansive outdoor areas.
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    • Contact for pricing
      5,178 SF

      Restaurant & Retail Space Available

      Prime restaurant and retail space with expansive outdoor areas.
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      View Details
    • $1,500 /Mo

      Prime Location Retail/Office Space

      Retail or office space near Downtown West Palm Beach.
      3600 Broadway Ave, West Palm Beach, FL 33407
      View Details
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    West Palm Beach, FL 33407
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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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