Retail Space Rents in West Palm Beach, FL
Rent costs for this type of commercial space depend on a variety of factors. The foremost of these is location, which will dictate how accessible a business is and how much foot traffic it gets. Other factors, such as space type and lease structure, also come into play. On average, retail space for lease in West Palm Beach asks $26.53 per square foot.
Retail Space Lease Types in West Palm Beach, FL
The most common type of lease agreement you’ll find here is NNN, with 14 space(s) available under this type of arrangement.
The local market is also home to 1 retail space(s) offered under a Full Service lease agreement type.
Most Common Type of Lease for Retail Buildings in West Palm Beach, FL
Average Size of Retail Space for Lease in West Palm Beach, FL
The average size for this type of rental opportunity in West Palm Beach is 1,000 sqft to 2,500 sqft. Currently, the local market offers 46 listing(s) within that size range.
You can also search 26 listing(s) in the 2,500 sqft to 5,000 sqft range.
It should be noted that spaces in this real estate category are generally specialized to cater to the needs of a particular business, so the average sizes of different retail space types can vary greatly.
Retail Space Types You Can Lease in West Palm Beach, FL
Retail space in West Palm Beach comes in all types, shapes, and sizes, so you have a good chance to find the right space for your business. The most common type here is listed as Street Retail and you can find 2 such space(s) available.
Street Retail spaces listed for rent here have an average size of 1,494 square feet. You’ll find street retail spaces are mostly located in urban and suburban areas that have high foot traffic. This type of space is often a great choice for smaller retailers that are looking for well-positioned points of sale.
The local market is also home to 2 space(s) listed as Retail (Other). The average size you can expect to find for this category is 3,400 square feet. Retail spaces come in many shapes and designs. Some are specifically tailored to the tenant that uses them, others are more generic space that can easily be reconfigured to accommodate different kinds of businesses over time.
What’s more, you can find 1 listing(s) in the Shared Space category, currently available in the average size of 32,784 square feet. Shared retail space is in some ways comparable to coworking office solutions. However, businesses in this context share a shop. It is also sometimes referred to as co-retailing and allows businesses to share resources such as physical space, stationery, and other support essentials, in order to cut down on some of the costs of running the business.
However, besides these popular subtypes, the market has a lot to offer for entrepreneurs looking for the right space to promote their business and get their goods to customers.
Top Locations to Lease Retail Space in West Palm Beach, FL
In general, the most successful retail businesses are located within relatively close proximity of each other, which leads to some neighborhoods becoming famous shopping destinations. Even in the case of suburban strip malls, the simple fact that so many different products can be purchased under the same roof can encourage customers to spend more.
Old Northwood is your top choice for lease opportunities, as it is currently home to the highest number of listings — 11 retail space(s).
West Palm Beach’s second most popular area is Southwest Palm Beach, where you can find 9 retail listing(s).
Providencia Park is also among the best areas to search for your next commercial space. Here you can find 6 retail space(s) available for consideration by prospective tenants, of which 1 are Street Retail.
Key Factors to Consider When Choosing a Retail Space for Lease
When you’re looking to give your business a storefront, there are a lot of decisions to be made. The first choice is, of course, location. You’ll have to decide whether your business would operate better in the heart of the city or if it is more likely to thrive in a suburban setting.
Data based on retail spaces listed for rent on CommercialSearch.com
2822 Okeechobie Blvd, Westgate, West Palm Beach, FL