west palm beach professional building · included in this offering is a pro-forma outlining new...

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➢

7% Pro-Forma Capitalization Rate➢

Building works for an owner user that can use 9659 sf➢

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 October 2018

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 $3,800,000

Tenants 1

Total Rentable Sq. Ft. 19,452

LOANS

Type Debt Term Amortization Rate Payment LO Costs

All Cash

INCOME & EXPENSES

Gross Operating Income $245,688

Monthly GOI $20,474

Total Annual Expenses ($122,997)

Monthly Expenses ($10,250)

P. 2

EXECUTIVE SUMMARY5725 Corporate Way | West Palm Beach, FL 33407


Acquisition Costs

Purchase Price, Points and Closing Costs $3,800,000

Investment - Cash $0

Investment Information

Purchase Price $3,800,000

Price per Tenant $3,800,000

Price per Sq. Ft. $195.35

Income, Expenses & Cash Flow

Gross Scheduled Income $245,688

Total Vacancy and Credits $0

Operating Expenses ($122,997)

Net Operating Income $122,691

Debt Service $0

Cash Flow Before Taxes $122,691

Financial Indicators

Debt Coverage Ratio N/A

Capitalization Rate 3.23%

Gross Income / Square Feet $12.63

Gross Expenses / Square Feet ($6.32)

Operating Expense Ratio 50.06%

P. 3

PROPERTY DESCRIPTION5725 Corporate Way | West Palm Beach, FL 33407


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.

This property is currently 81% occupied with only three vacancies. It is currently grossing $263,650.86 annuallynetting $140,653.43. 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 $394,226 netting $257,286 a year. This NOI will yield an investor a 7%Capitalization rate.

This property also works very well for an owner user. A user could use approximately 9659 sf that will be available inthe next 3-6 months.

This is an excellent opportunity to invest in a well maintained and operating office building in a A+++ location. Call foradditional information.

P. 4

PROPERTY PHOTOS5725 Corporate Way | West Palm Beach, FL 33407


P. 5

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 RollOct-18

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 JUPITER ASSET RECOVERY-Lease Termed 800 $13.46 4.23% 3.1.15 2.28.18 $897.52 $61.03 $958.55 $897.45 $897.45208 Vacant 975 5.16%209 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 $19,392.93 $1,080.72 $20,473.64 $18,791.99 $4,963.26Total Occupied 15,276 Annually $232,715.10 $12,968.63 $245,683.73Percentage Occupied 80.86%

P. 6

YEAR-TO-DATE P&L 20185725 Corporate Way | West Palm Beach, FL 33407


CORPORATE WAY PROFESSIONAL OFFICES 18, LLC YTD Profit and Loss Statement

Jan 18 Feb 18 Mar 18 Apr 18 May 18 Jun 18 Jul 18 Aug 18 TOTAL YTD Annually Accrued

Ordinary Income/ExpenseIncome

42000 · Commercial Rental4201 · Rental - Current Month 20,926.49 20,926.49 27,209.89 21,932.13 16,759.13 19,527.35 20,385.44 17,571.62 165,238.544203 · Rental - Future Month 1,226.58 1,226.58 0.00 0.00 2,259.23 0.00 2,259.23 3,557.08 10,528.70

Total 42000 · Commercial Rental 22,153.07 22,153.07 27,209.89 21,932.13 19,018.36 19,527.35 22,644.67 21,128.70 175,767.245000 · Suspense Account, Temp Adj 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Total Income 22,153.07 22,153.07 27,209.89 21,932.13 19,018.36 19,527.35 22,644.67 21,128.70 175,767.24 263,650.86 Expense

Licenses and Permits63310 · Elevator 0.00 0.00 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 0.00 0.00 0.0060100 · Advertisement 0.00 1,287.94 0.00 0.00 0.00 264.02 0.00 0.00 1,551.9660115 · Alarm/Security 0.00 0.00 0.00 0.00 0.00 0.00 0.00 48.15 48.1560700 · Bank Service Charges 0.00 0.00 6.80 33.00 3.00 3.00 0.01 2.00 47.8161800 · Insurance

61810 · A1 Workers Comp 0.00 0.00 0.00 0.00 0.00 0.00 27.84 27.28 55.1262000 · Flood 143.42 143.42 143.42 143.42 143.42 143.42 143.42 143.42 1,147.3662100 · Liability Insurance 145.87 145.87 145.87 145.87 145.87 145.87 145.87 145.87 1,166.9662200 · Property 1,004.17 1,595.00 502.09 1,004.17 1,004.17 1,004.17 1,004.17 1,004.17 8,122.11

Total 61800 · Insurance 1,293.46 1,884.29 791.38 1,293.46 1,293.46 1,293.46 1,321.30 1,320.74 10,491.5563700 · Maintenance

63800 · Building 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0063850 · Building Cleaning/Janitorial 1,570.63 1,570.63 1,230.00 1,687.83 1,687.83 2,037.55 1,673.57 1,640.80 13,098.8463860 · Cleaning - Windows 0.00 0.00 235.40 0.00 0.00 235.40 0.00 0.00 470.8063900 · Elevator 0.00 366.00 0.00 0.00 0.00 366.00 0.00 366.00 1,098.0064000 · Exterminator 217.00 217.00 77.10 117.70 0.00 117.70 32.10 110.00 888.6064060 · Plumbing 177.29 262.17 178.81 0.00 177.29 198.68 0.00 75.00 1,069.2464100 · Lawn 300.00 300.00 300.00 300.00 300.00 1,580.00 300.00 300.00 3,680.00

Total 63700 · Maintenance 2,264.92 2,715.80 2,021.31 2,105.53 2,165.12 4,535.33 2,005.67 2,491.80 20,305.4864700 · Outside Contractors

64702 · A1 Outside Service 0.00 0.00 0.00 0.00 0.00 0.00 1.50 1.55 3.0564700 · Outside Contractors - Other 160.00 160.00 330.00 542.37 0.00 140.00 0.00 0.00 1,332.37

Total 64700 · Outside Contractors 160.00 160.00 330.00 542.37 0.00 140.00 1.50 1.55 1,335.4265900 · Printing and Reproduction 0.00 0.00 0.00 0.00 98.92 0.00 0.00 0.00 98.9266000 · Professional Fees

66005 · A1 Administrative Fees 0.00 0.00 0.00 0.00 0.00 0.00 31.40 30.76 62.1666400 · Inspections

66500 · Elevator 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0066400 · Inspections - Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Total 66400 · Inspections 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Total 66000 · Professional Fees 0.00 0.00 0.00 0.00 0.00 0.00 31.40 30.76 62.1666900 · Repairs

67000 · Building Repairs67020 · A/C 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0067180 · Pavement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0067185 · Electric 0.00 0.00 0.00 0.00 0.00 0.00 0.00 28.52 28.5267195 · Tenant Renovations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0067350 · Painting 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Total 67000 · Building Repairs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Total 66900 · Repairs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0067400 · Salaries & Wages

67401 · A1 Payroll Expenses & Taxes 0.00 0.00 0.00 0.00 0.00 0.00 1,827.79 1,790.48 3,618.2767402 · Guaranteed Payment 0.00 0.00 0.00 0.00 0.00 0.00 0.00 800.00 800.00

Total 67400 · Salaries & Wages 0.00 0.00 0.00 0.00 0.00 0.00 1,827.79 2,590.48 4,418.2767600 · Supplies

67650 · Building Supplies67700 · AC UNITS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0067900 · Keys 0.00 0.00 0.00 270.00 0.00 0.00 0.00 0.00 270.0067650 · Building Supplies - Other 0.00 83.67 0.00 0.00 0.00 0.00 0.00 0.00 83.67

Total 67650 · Building Supplies 0.00 83.67 0.00 270.00 0.00 0.00 0.00 0.00 353.67Total 67600 · Supplies 0.00 83.67 0.00 270.00 0.00 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 3,916.00 3,916.00 31,328.0068600 · State-Sales Tax 0.00 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 3,916.00 3,916.00 31,328.0068700 · Telephone

68701 · Internet 155.05 255.00 155.05 0.00 507.15 135.04 155.05 155.05 1,517.3968702 · Elevator Cell Phone 48.15 48.15 48.15 48.15 48.15 48.15 48.15 48.15 385.20

Total 68700 · Telephone 203.20 303.15 203.20 48.15 555.30 183.19 203.20 203.20 1,902.5969400 · Utilities

69500 · Electric 459.09 459.09 394.57 393.65 447.84 434.41 474.05 504.59 3,567.2969700 · Waste/Recycling 204.00 204.00 204.00 204.00 204.00 204.00 204.00 204.00 1,632.0069800 · Water 672.89 672.89 662.27 585.36 585.36 563.59 556.33 556.33 4,855.02

Total 69400 · Utilities 1,335.98 1,335.98 1,260.84 1,183.01 1,237.20 1,202.00 1,234.38 1,264.92 10,054.31Total Expense 9,173.56 11,686.83 8,529.53 9,391.52 9,269.00 11,537.00 10,541.25 11,869.60 81,998.29 122,997.44Net Income 12,979.51 10,466.24 18,680.36 12,540.61 9,749.36 7,990.35 12,103.42 9,259.10 93,768.95 140,653.43

Aug-18

P. 7

PRO-FORMA RENT ROLL 20195725 Corporate Way | West Palm Beach, FL 33407


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 JUPITER ASSET RECOVERY-Lease Termed 800 $20.00 4.23% $1,333.33 $90.67 $396.67 $1,820.67208 Tenant 975 $20.00 5.16% $1,625.00 $110.50 $483.44 $2,218.94209 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 $28,062.97 $1,670.28 $4,789.25 $34,522.51Total Occupied 18,893 Annually $336,755.68 $20,043.39 $57,471.05 $414,270.12Percentage Occupied 100.00%

P. 8

PRO-FORMA P&L 20195725 Corporate Way | West Palm Beach, FL 33407


CORPORATE WAY PROFESSIONAL OFFICES 18, LLC Profit and Loss Statement

Monthly AnnuallyIncome

42000 · Commercial Rental4201 · Rental - Current Month 28,062.97 336,755.64 4203 · Rental - Future Month 0

Total 42000 · Commercial Rental 28,062.97 336,755.64 5000 · Suspense Account, Temp Adj 05100 * CAM Reimbersement 4,789.25 57,471.00

Total Income 32,852.22 394,226.64

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 257,286.64 Pro-Forma Capitalization Rate 7%

Pro-Forma 2019

P. 9

COMPARABLE SALES5725 Corporate Way | West Palm Beach, FL 33407


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


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


2701 W Okeechobee Blvd8 Sold: $2,000,000 ($217.84/SF)West PalmBeach


301 Southern Blvd9 Sold: $2,675,000 ($268.95/SF)West PalmBeach


415 Southern Blvd10 Sold: $1,600,000 ($337.84/SF)West PalmBeach


Address City Property Info Sale Info

Copyrighted report licensed to RE/MAX 5 Star Realty - 746067. 10/11/2018

Page 1P. 10



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


Page 2P. 11



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%


Page 3P. 12

MAPS AND AERIALS5725 Corporate Way | West Palm Beach, FL 33407


Areal

P. 13

MAPS AND AERIALS5725 Corporate Way | West Palm Beach, FL 33407


P. 14

LOCATION MAP5725 Corporate Way | West Palm Beach, FL 33407


P. 15

WEST PALM BEACH5725 Corporate Way | West Palm Beach, FL 33407


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.

P. 16



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.

P. 17



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.

P. 18



P. 19



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 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

P. 21



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

P. 22



Males: 52,914 (48.9%)Females: 55,235 (51.1%)

Median resident age:

40.4 years

Florida median age:

42.1 years

Population Demographics

P. 23

DEMOGRAPHICS5725 Corporate Way | West Palm Beach, FL 33407


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 %)

P. 24

DEMOGRAPHICS5725 Corporate Way | West Palm Beach, FL 33407


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

P. 25

west palm beach professional building · included in this offering is a pro-forma outlining new...

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