Office

Flagler Center II

505 S Flagler Dr, West Palm Beach, FL 33401, USA, West Palm Beach, FL 33401

Price

Price on request

Description

Office | For Sublease: 7,253 SF Flagler Center is a 254,700-square-foot office complex situated along the scenic Flagler Drive waterfront, right in the heart of downtown West Palm Beach.The property recently underwent more than $2 m

Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.

Location

505 S Flagler Dr, West Palm Beach, FL 33401, USA, West Palm Beach, FL 33401

Leaflet © OpenStreetMap contributors

Market Context

As of Q1 2026, the Palm Beach office market showed a 7.9% vacancy rate, average asking rents near $13.68/SF/yr, and rents up 7.9% year over year. Source: Cushman & Wakefield Q1 2026 market report.

Projected current pricing

indicative confidence

Projected asking rent

$13.68–$13.94/SF/yr

Estimated sale value

$73–$126/SF

Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Palm Beach office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q1 2026 asking-rent data (benchmark cap rate 6.6%–8.6%, asking rent trend-adjusted to today).

View the full Palm Beach Office market report →

Rising rents point to a competitive market where well-priced, well-located space leases quickly.

Compare it against other office listings for lease in West Palm Beach, FL to benchmark pricing and space — view the full market.

Office market FAQ

Is the Palm Beach office market tightening or softening?: Vacancy is around 7.9%, with asking rents rising year over year (Q1 2026).

Unified Estimate

Medium Confidence

$16.98/SF/mo-$22.98/SF/mo

Mid: $19.98/SF/mo

Rate estimator only; cost-of-business estimate unavailable.

Lease Rate & Market Trend

Market report quarterly trend fallback

Low Confidence

Avg Rent ($/SF/mo) (market data)
Vacancy %

Market asking rent (quarterly avg)Vacancy rate (right axis)

Investment Analysis

Beta Feature: Investment Analysis is currently in beta testing. Metrics are calculated based on available financial data and market comparables. Results are for informational purposes and should not be considered financial advice. Verify all assumptions and consult with a financial advisor before making investment decisions.

Insufficient financial data for full analysis. Add more financial fields to improve metric coverage.