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    3111 45Th St West Palm Beach, FL 33407

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    3111 45Th St West Palm Beach, FL 33407

    View on Map
    • Strip malls
    • 24,251 SF
    • 4.39 lot acres
    For Lease
    $26 SF/Yr
    View Listing →
    West Palm Beach Retail Spaces For Lease
    $26 SF/Yr
    29,967 SF

    West Palm Beach Retail Spaces

    Three retail spaces and one office space available for lease.

    3111 45th Street, West Palm Beach, FL 33407
    View Listing
    Property ID
    US18-4587152
    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.
    Value Estimations
    $6,120,000
    Cap Rate Potential
    5.6%
    Strip malls
    Location Intelligence

    Current Use by Public Records

    • Lucky Coins / (Bike/Boat/Book/etc) Store
    • Family Dental Care / Dental Office
    • Dr. Michael C. Westcott, DDS / Dental Office
    • Accident Doctor Group / Medical Clinic / Physical Therapist
    • Dr. Sujay Trivedi, General & Cosmetic Dentist / Dental Office

    Property Details for 3111 45Th St

    Year built
    1989
    Construction
    CONCRETE
    Lot size
    4.39 lot acres
    Property size
    24,251 SF
    Zone code
    CPD
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    74-42-43-01-17-000-0071
    APU
    74424301170000071

    Description

    This exceptional 2,421 square foot retail space is ideally located at 3111 45th Street in West Palm Beach, Florida, zip code 33407. The property is a single-tenant building, perfect for a variety of retail businesses. It's zoned CPD and features on-site signage opportunities visible from 45th Street. The lot size is not specified. The property's APN is 74424301170000071. This is a NNN lease, meaning the tenant is responsible for base rent, common area maintenance (CAM), and annual property taxes. This translates to predictable and manageable operating expenses for the tenant. The property's convenient location in West Palm Beach offers excellent visibility and accessibility for customers. This presents a unique opportunity for a business seeking a well-situated, single-tenant retail space with strong signage potential. The property is ready for immediate occupancy. Interested parties should inquire about lease terms and conditions. The property's latitude and longitude coordinates are 26.7605942 and -80.1012414 respectively.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,985,000
      ML approach
      $6,990,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,530,000
      6.5%
      $6,030,000
      7%
      $5,600,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,033,000
      Market price range: $1.89M - $4.36M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $7,140,000
      Current use
      INDUSTRIAL (GENERAL)
      $10,125,000
      Change: +42% Conversion: Difficult
      RETAIL STORES
      $10,065,000
      Change: +41% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.1014
    Latitude
    26.7603
    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
    $111,458
    $2,208,891
    $2,694,868
    $4,903,759
    -
    $2,208,891
    $2,694,868
    $4,903,759

    Comparable in this City

    • Value Estimation
      $1,450,000
      5,914 SF

      6758 Military Trl

      SHOPPING CENTER, STRIP CENTER • 5,914 SF
      6758 Military Trl, Riviera Beach, FL 33407-1203
      View Details
    • Value Estimation
      $810,000
      4,177 SF

      519 Northwood Rd

      SHOPPING CENTER, STRIP CENTER • 4,177 SF
      519 Northwood Rd, West Palm Beach, FL 33407-5817
      View Details
    • Value Estimation
      $8,990,000
      36,747 SF

      3500 45th St

      SHOPPING CENTER, STRIP CENTER • 36,747 SF
      3500 45th St, West Palm Beach, FL 33407-1899
      View Details
    • Value Estimation
      $635,000
      4,030 SF

      4715 Broadway

      SHOPPING CENTER, STRIP CENTER • 4,030 SF
      4715 Broadway, West Palm Beach, FL 33407-2903
      View Details
    • Value Estimation
      $2,180,000
      12,000 SF

      1746 45th St

      SHOPPING CENTER, STRIP CENTER • 12,000 SF
      1746 45th St, Mangonia Park, FL 33407-2167
      View Details
    • Value Estimation
      $1,550,000
      6,640 SF

      4201 Shr Dr

      SHOPPING CENTER, STRIP CENTER • 6,640 SF
      4201 Shr Dr, West Palm Beach, FL 33407
      View Details

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    Similar Nearby for Lease

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      West Palm Beach Shopping Center

      Neighborhood shopping center with retail and service tenants in West Palm Beach.
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      High-Traffic Retail Plaza For Rent

      Retail spaces available in high-traffic West Palm Beach location.
      5335 N Military Trl, West Palm Beach, FL 33407
      View Details
    • Contact for pricing

      High-Traffic Retail Space Available

      Retail spaces for lease in West Palm Beach, Florida.
      5335 N Military Trl, West Palm Beach, FL 33407
      View Details
    • Contact for pricing

      West Palm Beach Office Space

      Single-story office building with private entrances and ample parking.
      2442 Metrocentre Blvd, West Palm Beach, FL 33407
      View Details
    • $26 SF/Yr
      29,967 SF

      West Palm Beach Retail Spaces

      Three retail spaces and one office space available for lease.
      3111 45Th St, West Palm Beach, FL 33407
      View Details
    • Contact for pricing

      High-Traffic Plaza Commercial Suites

      Commercial suites in a highly visible, accessible plaza off I-95.
      2100 45Th St, West Palm Beach, FL 33407
      View Details
    View Listing
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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.

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