West Palm Beach Professional Building...CURRENT RENT ROLL 5725 Corporate Way | West Palm Beach, FL...
Transcript of West Palm Beach Professional Building...CURRENT RENT ROLL 5725 Corporate Way | West Palm Beach, FL...
Each office independently owned and operated
West Palm Beach Professional Building5725 Corporate Way | West Palm Beach, FL 33407
JOHN DEMARCO, ACP, [email protected]
19,452 sf luxury office building situated on a large 1.149➢
A+++ Location in desirable West Palm Beach Florida➢
9% Pro-Forma Capitalization Rate➢
Excellent condition➢
RE/MAX 5 STAR REALTY4151 Hollywood BlvdHollywood, FL 33020(954) 361-0000www.DeMarcoGroup.com
INVESTMENT DETAILS5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
ANALYSIS
Analysis Date March 2019
PROPERTY
Property West Palm Beach Professional
Property Address 5725 Corporate WayWest Palm Beach, FL 33407
Year Built 1983
FINANCIAL INFORMATION
All Cash
PURCHASE INFORMATION
Property Type Office
Purchase Price $2,950,000
Tenants 1
Total Rentable Sq. Ft. 19,452
LOANS
Type Debt Term Amortization Rate Payment LO Costs
All Cash
INCOME & EXPENSES
Gross Operating Income $270,312
Monthly GOI $22,526
Total Annual Expenses ($112,202)
Monthly Expenses ($9,350)
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EXECUTIVE SUMMARY5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Acquisition Costs
Purchase Price, Points and Closing Costs $2,950,000
Investment - Cash $0
Investment Information
Purchase Price $2,950,000
Price per Tenant $2,950,000
Price per Sq. Ft. $151.66
Income, Expenses & Cash Flow
Gross Scheduled Income $270,312
Total Vacancy and Credits $0
Operating Expenses ($112,202)
Net Operating Income $158,110
Debt Service $0
Cash Flow Before Taxes $158,110
Financial Indicators
Debt Coverage Ratio N/A
Capitalization Rate 5.36%
Gross Income / Square Feet $13.90
Gross Expenses / Square Feet ($5.77)
Operating Expense Ratio 41.51%
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PROPERTY DESCRIPTION5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
John DeMarco with Re/Max 5 Star Realty is pleased to present the sale of 5725 Corporate Way West Palm BeachFlorida. This luxury office building is located in an excellent location.The physical property consists of 19,452 sf ofleasable space well situated on a large 1.149 acre lot. Features include professional marble lobby entrance, elegantfinishes, high end tenant offices, ample parking, and much more. Building is in excellent overall condition with nodeferred maintenance. Looks wonderful. The building was recently renovated including new roof, cameras, painting,paving, LED lights, interior renovations. This property is currently 81% occupied with only three vacancies. It is currently grossing $264,970.94 annuallynetting $152,769.04. There are several existing tenants that have renewals upcoming in the next few months. Thisgives an investor a significant advantage to raise rents to market rates, as well as place these tenants on net leases.Included in this offering is a pro-forma outlining new market leasing rates. These leasing rates are based on actualleasing data contained in this offering and customary with the West Palm Beach markets. These pro-forma figuresproject a gross operating income will be $401,925 netting $264,985.48 a year. This NOI will yield an investor a 9%Capitalization rate.
This property also works very well for an owner user.
This is an excellent opportunity to invest in a well maintained and operating office building in a A+++ location. Callfor additional information.
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PROPERTY PHOTOS5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
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CURRENT RENT ROLL5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection byand/or with the appropriate professionals.
CORPORATE WAY PROFESSIONAL OFFICES 18, LLC Rent RollMar-19
Suite TenantArea in
SFRent/PSF
Pct of Bldg
Lease Start
Lease End
Monthly Rent
SALES TAX Monthly Rent &
Sales Tax
Security Deposit
Last Month Rent
101 Vacant 1,754 9.28%102/104 EVERGLADES AHEC, INC. 2,400 $17.50 15.71% 11.01.17 10.31.19 $3,500.00 Exmd $3,500.00 $3,000.00 $0.00103 LIVE JOY TODAY INC. & WEBMASTER FOR HIRE 595 $20.95 3.15% 4.1.18 3.31.19 $1,038.77 $70.64 $1,109.41 $1,038.77 $0.00105/107 LYDIA FILS CHARLES 2,128 $12.74 11.26% 1.1.18 12.31.22 $2,259.23 $153.63 $2,412.86 $3,982.00 $0.00106 WARD & COMPANY, P.A. 1,500 $15.00 9.82% 1.1.18 12.31.18 $1,875.00 $127.50 $2,002.50 $832.10 $0.00108 Vacant 888 4.70%201 DPS HOME HEALTH AGENCY, LLC 910 $16.03 4.82% 10.1.17 9.30.18 $1,215.51 $82.65 $1,298.16 $1,100.00 $1,288.44202 LTL ASSOCIATES, INC 1,100 $13.81 5.82% 12.1.17 11.30.19 $1,265.91 $86.08 $1,351.99 $980.50 $0.00203 NEW PRIORITIES INC 1,035 $13.39 5.48% 2.1.17 1.31.20 $1,154.89 $78.53 $1,233.42 $943.17 $0.00204 Dr. ROSENBERG 950 $15.35 5.03% 1.1.18 12.31.18 $1,215.21 $82.63 $1,297.84 $2,500.00 $0.00205 THE BALANCE SHEET INC 895 $17.43 4.74% 10.1.18 9.30.23 $1,300.00 $88.40 $1,388.40 $1,043.00 $1,138.75206 FLETCHER LAW OFFICE PA 950 $13.39 5.03% 5.1.17 4.30.18 $1,060.05 $72.08 $1,132.13 $1,030.00 $0.00207 Health Billing Solution 800 $19.75 4.23% 3.15.19 3.14.22 $1,316.64 $89.53 $1,406.17 $1,316.34 $1,396.50208 US House of Representatives 975 $19.75 5.16% 3.1.2019 1.02.2021 $1,605.03 $0.00 $1,605.03 $0.00209 BAND CAMP, INC 1,081 $16.05 5.72% 10.01.17 7.1.20 $1,445.84 $98.32 $1,544.16 $1,445.00 $1,638.62210 H20 MARKETING GROUP, INC. 932 $15.00 4.93% 12.1.17 11.30.18 $1,165.00 $79.22 $1,244.22 $0.00 $0.00
Total 18,893 $21,417.08 $1,109.22 $22,526.29 $19,210.88 $5,462.31Total Occupied 15,276 Annually $257,004.90 $13,310.63 $270,315.53Percentage Occupied 80.86%
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YEAR-TO-DATE P&L 20185725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
CORPORATE WAY PROFESSIONAL OFFICES 18, LLC YTD Profit and Loss Statement
Feb 18 Mar 18 Apr 18 May 18 Jun 18 Jul 18 TOTAL YTD Annually Accrued
Ordinary Income/ExpenseIncome
42000 · Commercial Rental4201 · Rental - Current Month 20,926.49 27,209.89 21,932.13 16,759.13 19,527.35 20,385.44 126,740.434203 · Rental - Future Month 1,226.58 0.00 0.00 2,259.23 0.00 2,259.23 5,745.04
Total 42000 · Commercial Rental 22,153.07 27,209.89 21,932.13 19,018.36 19,527.35 22,644.67 132,485.475000 · Suspense Account, Temp Adj 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Income 22,153.07 27,209.89 21,932.13 19,018.36 19,527.35 22,644.67 132,485.47 264,970.94 Expense
Licenses and Permits63310 · Elevator 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Licenses and Permits 0.00 0.00 0.00 0.00 0.00 0.00 0.0060100 · Alarm/Security 0.00 0.00 0.00 0.00 0.00 0.00 0.0060700 · Bank Service Charges 0.00 6.80 33.00 3.00 3.00 0.01 45.8161800 · Insurance
61810 · A1 Workers Comp 0.00 0.00 0.00 0.00 0.00 27.84 27.8462000 · Flood 143.42 143.42 143.42 143.42 143.42 143.42 860.5262100 · Liability Insurance 145.87 145.87 145.87 145.87 145.87 145.87 875.2262200 · Property 1,595.00 502.09 1,004.17 1,004.17 1,004.17 1,004.17 6,113.77
Total 61800 · Insurance 1,884.29 791.38 1,293.46 1,293.46 1,293.46 1,321.30 7,877.3563700 · Maintenance
63800 · Building 0.00 0.00 0.00 0.00 0.00 0.00 0.0063850 · Building Cleaning/Janitorial 1,570.63 1,230.00 1,687.83 1,687.83 2,037.55 1,673.57 9,887.4163860 · Cleaning - Windows 0.00 235.40 0.00 0.00 235.40 0.00 470.8063900 · Elevator 366.00 0.00 0.00 0.00 366.00 0.00 732.0064000 · Exterminator 217.00 77.10 117.70 0.00 117.70 32.10 561.6064100 · Lawn 300.00 300.00 300.00 300.00 300.00 300.00 1,800.00
Total 63700 · Maintenance 2,453.63 1,842.50 2,105.53 1,987.83 3,056.65 2,005.67 13,451.8165900 · Printing and Reproduction 0.00 0.00 0.00 98.92 0.00 0.00 98.9267400 · Salaries & Wages
67401 · A1 Payroll Expenses & Taxes 0.00 0.00 0.00 0.00 0.00 1,827.79 1,827.7967402 · Guaranteed Payment 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 67400 · Salaries & Wages 0.00 0.00 0.00 0.00 0.00 1,827.79 1,827.7967600 · Supplies
67650 · Building Supplies67900 · Keys 0.00 0.00 270.00 0.00 0.00 0.00 270.0067650 · Building Supplies - Other 83.67 0.00 0.00 0.00 0.00 0.00 83.67
Total 67650 · Building Supplies 83.67 0.00 270.00 0.00 0.00 0.00 353.67Total 67600 · Supplies 83.67 0.00 270.00 0.00 0.00 0.00 353.6768200 · Taxes
68500 · Property 3,916.00 3,916.00 3,916.00 3,916.00 3,916.00 3,916.00 23,496.0068600 · State-Sales Tax 0.00 0.00 0.00 0.00
Total 68200 · Taxes 3,916.00 3,916.00 3,916.00 3,916.00 3,916.00 3,916.00 23,496.0068700 · Telephone
68701 · Internet 255.00 155.05 0.00 507.15 135.04 155.05 1,207.2968702 · Elevator Cell Phone 48.15 48.15 48.15 48.15 48.15 48.15 288.90
Total 68700 · Telephone 303.15 203.20 48.15 555.30 183.19 203.20 1,496.1969400 · Utilities
69500 · Electric 459.09 394.57 393.65 447.84 434.41 474.05 2,603.6169700 · Waste/Recycling 204.00 204.00 204.00 204.00 204.00 204.00 1,224.0069800 · Water 672.89 662.27 585.36 585.36 563.59 556.33 3,625.80
Total 69400 · Utilities 1,335.98 1,260.84 1,183.01 1,237.20 1,202.00 1,234.38 7,453.41Total Expense 9,976.72 8,020.72 8,849.15 9,091.71 9,654.3 10,508.35 56,100.95 112,201.90Net Income 12,176.35 19,189.17 13,082.98 9,926.65 9,873.05 12,136.32 76,384.52 152,769.04
Aug-18
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PRO-FORMA RENT ROLL 20195725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection byand/or with the appropriate professionals.
CORPORATE WAY PROFESSIONAL OFFICES 18, LLC Rent RollPro-Forma 2019
Suite TenantArea in
SFRent/PSF
Pct of Bldg
Monthly Rent
SALES TAX CAMTotal
Monthly Rent
101 Tenant 1,754 $20.00 9.28% $2,923.33 $198.79 $869.69 $3,991.81102/104 EVERGLADES AHEC, INC. 2,400 $17.50 12.70% $3,500.00 Exmd $3,500.00103 LIVE JOY TODAY INC. & WEBMASTER FOR HIRE 595 $20.95 3.15% $1,038.77 $70.64 $1,109.41105/107 LYDIA FILS CHARLES 2,128 $12.74 11.26% $2,259.23 $153.63 $2,412.86106 WARD & COMPANY, P.A. 1,500 $20.00 7.94% $2,500.00 $170.00 $743.75 $3,413.75108 Tenant 888 $20.00 4.70% $1,480.00 $100.64 $440.30 $2,020.94201 DPS HOME HEALTH AGENCY, LLC 910 $20.00 4.82% $1,516.67 $103.13 $451.21 $2,071.01202 LTL ASSOCIATES, INC 1,100 $13.81 5.82% $1,265.91 $86.08 $1,351.99203 NEW PRIORITIES INC 1,035 $13.39 5.48% $1,154.89 $78.53 $1,233.42204 Dr. ROSENBERG 950 $20.00 5.03% $1,583.33 $107.67 $471.04 $2,162.04205 THE BALANCE SHEET INC 895 $17.43 4.74% $1,300.00 $88.40 $1,388.40206 FLETCHER LAW OFFICE PA 950 $20.00 5.03% $1,583.33 $107.67 $471.04 $2,162.04207 Health Billing Solution 800 $19.75 4.23% $1,316.67 $89.53 $1,406.20208 US US House of Representatives 975 $19.75 5.16% $1,604.69 $0.00 $1,604.69209 BAND CAMP, INC 1,081 $16.05 5.72% $1,445.84 $98.32 $1,544.16210 H20 MARKETING GROUP, INC. 932 $20.00 4.93% $1,553.33 $105.63 $462.12 $2,121.08
Total 18,893 $28,025.99 $1,558.65 $3,909.15 $33,493.79Total Occupied 18,893 Annually $336,311.93 $18,703.79 $46,909.80 $401,925.52Percentage Occupied 100.00%
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PRO-FORMA P&L 20195725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
CORPORATE WAY PROFESSIONAL OFFICES 18, LLC Profit and Loss Statement
Monthly AnnuallyIncome
42000 · Commercial Rental4201 · Rental - Current Month 29,584.64 336,311.93 4203 · Rental - Future Month 0
Total 42000 · Commercial Rental 29,584.64 336,311.93 5000 · Suspense Account, Temp Adj 05100 * CAM Reimbersement 3,909.15 46,909.80
Total Income 33,493.79 401,925.48
Expense60100 · Advertisement 25.00 300.0060115 · Alarm/Security 5.83 70.0060700 · Bank Service Charges 5.83 70.0061800 · Insurance
61810 · A1 Workers Comp 6.67 80.0062000 · Flood 145.83 1,750.0062100 · Liability Insurance 145.83 1,750.0062200 · Property 1,041.67 12,500.00
Total 61800 · Insurance 1,340.00 16,080.0063700 · Maintenance
63850 · Building Cleaning/Janitorial 1,666.67 20,000.0063860 · Cleaning - Windows 58.33 700.0063900 · Elevator 125.00 1,500.0064000 · Exterminator 108.33 1,300.0064060 · Plumbing 83.33 1,000.0064100 · Lawn 458.33 5,500.00
Total 63700 · Maintenance 2,500.00 30,000.0064700 · Outside Contractors
64700 · Outside Contractors 125.00 1,500.00Total 64700 · Outside Contractors 1,500.0066000 · Professional Fees
66005 · A1 Administrative Fees 8.33 100.00Total 66000 · Professional Fees 8.33 100.0067400 · Salaries & Wages
67401 · A1 Payroll Expenses & Taxes 1,750.00 21,000.00Total 67400 · Salaries & Wages 1,750.00 21,000.0067600 · Supplies
67650 · Building Supplies67700 · AC Filters 25.00 300.0067900 · Keys 5.83 70.0067650 · Building Supplies - Other 8.33 100.00
Total 67600 · Supplies 39.17 470.0068200 · Taxes
68500 · Property 4,000.00 48,000.00Total 68200 · Taxes 4,000.00 48,000.0068700 · Telephone
68701 · Internet 191.67 2,300.0068702 · Elevator Cell Phone 45.83 550.00
Total 68700 · Telephone 237.50 2,850.0069400 · Utilities
69500 · Electric 500.00 6,000.0069700 · Waste/Recycling 216.67 2,600.0069800 · Water 658.33 7,900.00
Total 69400 · Utilities 1,375.00 16,500.00Total Expense 11,411.67 136,940.00
Net Income 264,985.48 Pro-Forma Capitalization Rate 9.0%
Pro-Forma 2019
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COMPARABLE SALES5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
920 3rd Ave N1 Sold: $325,000 ($219.30/SF)Lake Worth 1,482 SF Class C Office
2810 S Dixie Hwy2 Sold: $695,000 ($341.52/SF)West PalmBeach
2,035 SF Class B Office
4461 Medical Center Way3 Sold: $1,750,000 ($291.57/SF)West PalmBeach
6,002 SF Class B Office/Medical
2410 Metrocentre Blvd E4 Sold: $22,300,000 ($333.98/SF)West PalmBeach
66,770 SF Class B Office
1509 N Military Trl5 Sold: $1,430,000 ($220.27/SF)West PalmBeach
6,492 SF Class C Office
3181 S Military Trl6 Sold: $400,000 ($214.48/SF)Lake Worth 1,865 SF Class C Office
5867 Okeechobee Blvd7 Sold: $2,650,000 ($212/SF)West PalmBeach
12,500 SF Class C Office
2701 W Okeechobee Blvd8 Sold: $2,000,000 ($217.84/SF)West PalmBeach
9,181 SF Class B Office
301 Southern Blvd9 Sold: $2,675,000 ($268.95/SF)West PalmBeach
9,946 SF Class C Office
415 Southern Blvd10 Sold: $1,600,000 ($337.84/SF)West PalmBeach
4,736 SF Class B Office
Address City Property Info Sale Info
Copyrighted report licensed to RE/MAX 5 Star Realty - 746067. 10/11/2018
Page 1P. 10
COMPARABLE SALES5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Dollar Volume
Legend:
Current SurveySold Transactions 10
$35,825,000Number of TransactionsTotal Dollar Volume
121,00915.26
Total Bldg Square FeetTotal Land in Acres
664,726$3,582,500
Total Land in SFAverage Price
12,101$296.05
Average Number of SFAverage Price Per Bldg SF
$244.611.53
Median Price Per SFAverage Number of Acres
66,473-
Average Number of SF(Land)Average Price Per Unit
--
Median Price Per UnitAverage Number of Units
5.72%Actual Cap Rate
SoldTransactions
Time Interval - Quarterly
Report Time Frame: 4/1/2017 - 10/11/2018
Trend Report
Copyrighted report licensed to RE/MAX 5 Star Realty - 746067. 10/11/2018
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COMPARABLE SALES5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Trend Report
Sold Transaction Sold Transaction
2Q17 04/1-6/30/17 4Q17 10/1-12/31/17
Number of TransactionsTotal Dollar VolumeTotal Bldg Square FeetTotal Land in AcresTotal Land in SFAverage PriceAverage Number of SFAverage Price Per Bldg SFMedian Price Per SFAverage Number of AcresAverage Number of SF(Land)Average Price Per UnitMedian Price Per UnitAverage Number of UnitsActual Cap Rate
3Q17 07/1-9/30/17 2Q18 04/1-6/30/18
Sold TransactionSold Transaction
1$400,000
1,8650.54
23,522$400,000
1,865$214.48$214.48
0.5423,522
----
2$3,750,000
15,1832.09
91,040$1,875,000
7,592$246.99$254.71
1.0545,520
----
1$2,675,000
9,9461.38
60,113$2,675,000
9,946$268.95$268.95
1.3860,113
----
3$3,355,000
12,7101.18
51,401$1,118,333
4,237$263.97$220.27
0.3917,134
----
3Q18 07/1-9/30/18
Number of TransactionsTotal Dollar VolumeTotal Bldg Square FeetTotal Land in AcresTotal Land in SFAverage PriceAverage Number of SFAverage Price Per Bldg SFMedian Price Per SFAverage Number of AcresAverage Number of SF(Land)Average Price Per UnitMedian Price Per UnitAverage Number of UnitsActual Cap Rate
Sold Transaction
3$25,645,000
81,30510.07
438,649$8,548,333
27,102$315.42$333.98
3.36146,216
---
5.72%
Copyrighted report licensed to RE/MAX 5 Star Realty - 746067. 10/11/2018
Page 3P. 12
MAPS AND AERIALS5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection byand/or with the appropriate professionals.
Areal
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MAPS AND AERIALS5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection byand/or with the appropriate professionals.
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LOCATION MAP5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
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WEST PALM BEACH5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
FLORIDA'S MOST DYNAMIC CITY
WEST PALM
BEACH
Florida's Most Dynamic City
Gorgeous weather…limitless outdoors adventures…world-class culture, dining, entertainment and shopping. West Palm Beach is the idyllic
spot to visit, live, work or play.
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WEST PALM BEACH5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Located along Florida’s Atlantic Ocean
coast, West Palm Beach offers visitors year-
round excitement within easy reach of
smooth-sand beaches and some of the
nation’s most enticing waterways.
Immediately to the west of the
adjacent Palm Beach, West Palm Beach is
situated on a barrier islandacross the Lake
Worth Lagoon.
It is the oldest incorporated municipality in
the Miami metropolitan area, having been
incorporated as a city two years
before Miami in November 1894.
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WEST PALM BEACH5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
PopulationThe population was 100,343 (revised) at the 2018 census. The US Census
estimates a 2016 population of 108,896, a 7.9% increase from 2010.The
estimated population of the Miami metropolitan area, which includes all of Palm
Beach County, was 6,012,331 people at the 2015 census.
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WEST PALM BEACH5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
P. 19
WEST PALM BEACH5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
DOWNTOWN
WEST PALM BEACH
West Palm Beach is home to four retail
and entertainment districts: Clematis
Street, CityPlace, Northwood
Village, and Antique Row.
These vibrant pieces of West Palm Beach
are lined with fashionable bars,
nightclubs, boutiques and collectables.
Other Downtown attractions include Diva
Duck Amphibious Tour, Harriet Himmel
Theatre, Culture lab, Anushka Spa, and
much more.
Clematis Street is the historical heart of
Downtown West Palm Beach. Two of the
most prominent structures, the Comeau
Building and Harvey Building
Walking west along Clematis Street you’ll
experience the varied, unique to South
Florida flavor of the area’s colorful
boutiques, art galleries, nightclubs, live
music, restaurants, antique shops and
historical landmarks. In the winter season
there is the farmers’ market and the spring
has SunFest. P. 20
WEST PALM BEACH5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
WEST PALM BEACH
ECONOMY
West Palm Beach has an unemployment
rate of 4.6%. The US average is 5.2%.
West Palm Beach has seen the job market
increase by 1.9% over the last year.
Future job growth over the next ten years
is predicted to be 39.3%, which is higher
than the US average of 38.0%.
Tax Rates for West Palm Beach
- The Sales Tax Rate for West Palm Beach
is 6.0%. The US average is 6.0%.
- The Income Tax Rate for West Palm
Beach is 0.0%. The US average is 4.6%.
Income and Salaries for West Palm Beach
- The average income of a West Palm
Beach resident is $29,882 a year. The US
average is $28,555 a year.
- The Median household income of a West
Palm Beach resident is $45,027 a year.
The US average is $53,482 a year.
Data gathered and provided by
best places.net/WestPalmBeah
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WEST PALM BEACH5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
BUSINESS IN
WEST PALM BEACH
The City offers a superlative business climate
bolstered with all you need to prosper and
succeed, combined with a local pro-business
government and a vibrant, supportive business
community.
Unlike other centers of business in the United
States, West Palm Beach offers a rich,
rewarding lifestyle that other Florida cities can
only envy. Basking in sunshine and graced by
swaying palms, the City was born as the
down-to-earth business center of its
aristocratic neighbor, Palm Beach.
And although West Palm Beach is part of the
largest metropolitan statistical area in the
Southeast, its gentle pace, relaxed
atmosphere, and fulfilling amenities separate
it drastically from others in the area.
Costs of business lower. And the weekends
filled with celebration.
Ranked by Forbes Magazine as the #1 city in
Florida for business and careers, West Palm
Beach offers all you need for business and life
– in the perfect balance – leading to America’s
most rewarding and fulfilling place to work
and live.
Sourced at Wpb.org
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WEST PALM BEACH5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Males: 52,914 (48.9%)Females: 55,235 (51.1%)
Median resident age:
40.4 years
Florida median age:
42.1 years
Population Demographics
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DEMOGRAPHICS5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Population 1 Mile 3 Mile 5 Mile
Male 3,243 (46.53 %) 43,110 (47.92 %) 94,948 (47.99 %)
Female 3,726 (53.47 %) 46,854 (52.08 %) 102,917 (52.01 %)
Total Population 6,969 89,964 197,865
Age Breakdown 1 Mile 3 Mile 5 Mile
Ages 0-4 517 (7.42 %) 5,712 (6.35 %) 10,666 (5.39 %)
Ages 5-9 629 (9.03 %) 6,831 (7.59 %) 12,899 (6.52 %)
Ages 10-14 567 (8.14 %) 6,131 (6.81 %) 11,658 (6.52 %)
Ages 15-19 517 (7.42 %) 5,683 (6.32 %) 11,016 (5.57 %)
Ages 20-24 457 (6.56 %) 5,525 (6.14 %) 10,940 (5.53 %)
Ages 25-29 416 (5.97 %) 5,319 (5.91 %) 10,775 (5.45 %)
Ages 30-34 439 (6.30 %) 5,216 (5.80 %) 10,681 (5.40 %)
Ages 35-39 440 (6.31 %) 5,342 (5.94 %) 10,958 (5.54 %)
Ages 40-44 444 (6.37 %) 5,681 (6.31 %) 11,711 (5.92 %)
Ages 45-49 464 (6.66 %) 5,957 (6.62 %) 12,770 (6.45 %)
Ages 50-54 431 (6.18 %) 5,824 (6.47 %) 13,000 (6.57 %)
Ages 55-59 376 (5.40 %) 5,321 (5.91 %) 12,505 (6.32 %)
Ages 60-64 335 (4.81 %) 4,695 (5.22 %) 11,394 (5.76 %)
Ages 65-69 281 (4.03 %) 4,078 (4.53 %) 10,107 (5.11 %)
Ages 70-74 194 (2.78 %) 3,438 (3.82 %) 8,815 (4.46 %)
Ages 75-79 149 (2.14 %) 2,829 (3.14 %) 7,728 (3.91 %)
Ages 80-84 104 (1.49 %) 2,221 (2.47 %) 6,547 (3.31 %)
Ages 85+ 209 (3.00 %) 4,161 (4.63 %) 13,695 (6.92 %)
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DEMOGRAPHICS5725 Corporate Way | West Palm Beach, FL 33407
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Household Income 1 Mile 3 Mile 5 Mile
Median Income $48,342 $42,375 $43,780
Less than $10,000 225 3,382 7,897
$10,000 -$14,999 180 2,610 5,234
$15,000 - $19,999 195 2,257 5,158
$20,000 -$24,999 125 2,595 5,575
$25,000 - $29,999 172 2,104 4,636
$30,000 - $34,999 142 2,283 5,307
$35,000 - $39,999 164 2,032 4,810
$40,000 - $44,999 172 2,384 5,302
$45,000 - $49,999 156 2,002 3,993
$50,000 - $59,999 255 3,372 7,289
$60,000 - $74,999 302 3,498 7,629
$75,000 - $99,999 329 3,893 8,692
$100,000 - $124,999 100 1,586 4,412
$125,000 - $149,999 23 1,019 2,542
$150,000 - $199,999 34 631 2,465
Greater than $200,000 N/A 527 3,809
Housing 1 Mile 3 Mile 5 Mile
Housing Units 2,889 43,734 108,527
Occupied Units 2,600 35,225 84,052
Owner Occupied Units 1,640 18,520 47,647
Renter Occupied Units 960 16,705 36,405
Vacant Units 289 8,509 24,475
Race Demographics 1 Mile 3 Mile 5 Mile
Population Non Hispanic White 1,718 30,466 104,928
Population Black 4,851 51,386 75,697
Population Am In/Ak Nat 6 148 255
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