Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5509 Broadway West Palm Beach, FL 33407-2603
    Back to Search
    Property profile & analytics

    5509 Broadway, West Palm Beach, FL 33407-2603

    View on Map
    • Grocery and convenience stores
    • 2,113 SF
    • 0.31 lot acres
    Off-Market
    Property ID
    US18-3890085
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 5509 Broadway

    Year built
    1948
    Construction
    WOOD
    Lot size
    0.31 lot acres
    Zone code
    BMUD- II
    Property type
    Grocery and convenience stores
    APN
    74-43-43-04-08-062-0010
    APU
    74434304080620010

    Description

    This exceptional 22,812 square foot mixed-use property in West Palm Beach, Florida, presents a compelling redevelopment opportunity. Located at 5509 Broadway, within the Broadway Corridor CRA and an Opportunity Zone, this site offers significant tax incentives and development benefits. Built in 1948, the property is zoned to allow for the construction of a three-story building, providing flexibility for a dynamic mix of residential, commercial, and retail spaces. The high-traffic location ensures excellent visibility and strong growth potential. This strategic location, combined with favorable zoning regulations, makes this an attractive investment for developers seeking to capitalize on the area's revitalization. The asking price is $1,500,000. This unique opportunity allows for the creation of a landmark development within a thriving community, benefiting from the ongoing improvements and investment in the Broadway Corridor. The property's potential is further enhanced by its position within a designated Community Redevelopment Area, promising continued growth and development in the surrounding neighborhood. Don't miss this chance to shape the future of West Palm Beach's vibrant Broadway Corridor. The property's address is 5509 Broadway, West Palm Beach, FL 33407.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0558
    Latitude
    26.7601
    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
    $7,750
    $133,360
    $132,600
    $265,960
    -
    $133,360
    $132,600
    $265,960

    Comparable in this City

    • Value Estimation by Request
      1,250 SF

      1725 Spruce Ave

      CONVENIENCE STORE
      1725 Spruce Ave, West Palm Beach, FL 33407-6410
      View Details
    • Value Estimation
      $750,000
      3,034 SF

      5501 Broadway

      CONVENIENCE STORE
      5501 Broadway, West Palm Beach, FL 33407-2603
      View Details
    • Value Estimation by Request
      2,695 SF

      4701 Broadway

      CONVENIENCE STORE
      4701 Broadway, West Palm Beach, FL 33407-2903
      View Details
    • Value Estimation
      $755,000
      3,075 SF

      5709 Australian Ave

      CONVENIENCE STORE
      5709 Australian Ave, Mangonia Park, FL 33407-2325
      View Details
    • Value Estimation
      $1,360,000
      5,700 SF

      2995 45th St

      CONVENIENCE STORE
      2995 45th St, West Palm Beach, FL 33407-1911
      View Details
    • Value Estimation by Request
      2,478 SF

      1551 45th St

      CONVENIENCE STORE
      1551 45th St, Mangonia Park, FL 33407-2146
      View Details

    Similar Nearby for Sale

    • $1,780,000

      Premier Office & Flex Showroom

      Flagship office, showroom, and flex space in A++ condition.
      4188 Westroads Dr, Riviera Beach, FL 33407
      View Details
    • $1,150,000

      Versatile Industrial Condo with Office

      2,500 sqft industrial condo with 1,000 sqft office space.
      5401 N Haverhill Rd, West Palm Beach, FL 33407
      View Details

    Similar Nearby for Lease

    • New
      $199,000
      2,400 SF

      West Palm Beach Commercial Space

      2,400 sq ft commercial space in revitalizing West Palm Beach.
      2121 N Tamarind Ave, West Palm Beach, FL 33407
      View Details
    • Contact for pricing
      3,200 SF

      Restaurant & Retail Space Available

      Prime restaurant and retail space with expansive outdoor areas.
      585 Northwood Rd, West Palm Beach, FL 33407
      View Details
    • Contact for pricing
      1,033 SF

      Restaurant & Retail Space Available

      Prime restaurant and retail space with expansive outdoor areas.
      602 Northwood Rd, West Palm Beach, FL 33407
      View Details
    • Contact for pricing
      2,873 SF

      Restaurant & Retail Space Available

      Prime restaurant and retail space with outdoor patios in West Palm Beach.
      25Th St, West Palm Beach, FL 33407
      View Details
    • Contact for pricing
      1,757 SF

      Restaurant & Retail Space Available

      Prime restaurant and retail space with expansive outdoor areas.
      2461 Pinewood Ave, West Palm Beach, FL 33407
      View Details
    • Contact for pricing
      5,178 SF

      Restaurant & Retail Space Available

      Prime restaurant and retail space with expansive outdoor areas.
      638 25Th St, West Palm Beach, FL 33407
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5509 Broadway
    West Palm Beach, FL 33407-2603
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5509 Broadway, West Palm Beach, FL, 33407
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!