Property profile

375 Kelly Dr West Palm Beach, FL 33411

FOR LEASE
Office buildings
Property ID
US18-3054697
1,728 SF 30 ac lot Built 1987
Entity Owned 13-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 15-acre industrial parcel, located at 375 Kelly Drive in West Palm Beach, Palm Beach County, presents a unique investment opportunity. The property boasts a single-tenant warehouse configuration, zoned IL (Light Industrial), with an APN of 00424327050070230. Its strategic location offers unparalleled access to major transportation arteries, including Route 98 (Southern Boulevard) and the Florida Turnpike. The site is conveniently situated just 5.58 miles from Palm Beach International Airport and 6.6 miles from I-95, ensuring seamless logistics and efficient transportation. The property's unique zoning designation (Property Code Use 4900) permits outside storage, a highly desirable feature for industrial tenants. This advantage, combined with easy ingress and egress, optimizes operational efficiency. The expansive acreage provides ample space for a wide range of vehicles and equipment, including trucks, containers, cars, buses, boats, and heavy wheeled equipment. Located in the highly sought-after West Palm Beach submarket, this property is ideally positioned to attract industrial tenants seeking substantial parking and storage solutions. The price is quoted per acre per month.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1987
Construction WOOD
Total area 1,728 SF
Lot 30 ac (1,306,800 SF)
Zoning code IL
APN 00-42-43-27-05-007-0230
UPID US18-3054697

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store Rental Equipment Company

Location

375 Kelly Dr West Palm Beach, FL 33411
West Palm Beach metro Census 7833 MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$835k
CAP Approach CAP
$990k
Comparable Approach Comparable
$815k
Blend (final) Blend
$815k

Owner & transaction history

Zoning & alternative use

IL · West Palm Beach, FL
Zoning description

d Transition District (RTD). Secs. 94-150-94-170. - Reserved. ARTICLE VI. - INDUSTRIAL DISTRICT Article VI. Footnotes Sec. 94-171. - Intent. Sec. 94-172. - General development standards. Sec. 94-173. - Industrial light (…

General category INDUSTRIAL
Top alternative use upside
Medical building $935,000 +71.8%
Auto repair, garage $890,000 +63.4%
Retail stores $715,000 +31.7%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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