Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1118 S Palmway Lake Worth, FL 33460

    Sponsored
    For Sale
    $1,900,000

    Single Family Detached, Single Family - Lake Worth Beach, FL

    Type:Single Family Residence
    Days on Market:
    20
    Last Refresh:
    Feb 28 at 12:06 am

    Property Features for 1118 S Palmway

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Active
    Vegetation
    Cleared
    Zoning
    R-2(ci
    APN
    38434427010500030
    Exterior features
    Cleared

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jon E Faust

    Coastline Realty, Inc (561) 588-2900

    Listing agent Jon E Faust (561) 588-2900

    Listing date Feb 9, 2026

    MLS# RX-11162281 Listing URL

    Copyright © 2026 BeachesMLS / Flexmls. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lake Worth Beach Building Opportunity

    This property presents an opportunity to construct a custom home on a large lot that extends from Palmway to Lakeside. The location is near downtown Lake Worth Beach, West Palm Beach, and Palm Beach, offering convenient access to amenities. A multi-million dollar home is currently under construction across the street on the intracoastal, and also within the neighborhood. The property is located in Lake Worth Beach, Florida, with zoning classification R-2(ci.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Raine Teel Intrinsic ... Artist

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Worth
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.050976
    Latitude
    26.60164

    Nearby Similar for Sale

    • $950,000
      1,250 SF

      Lake Worth Road Commercial Property

      Commercial property with redevelopment potential on a bustling thoroughfare.
      2935 Lake Worth Rd, Lake Worth, FL 33461
      View Details
    • $299,900
      991 SF

      Palm Springs Commercial Condo Suite

      Main-level commercial condo with flexible layout and dedicated rear entrance.
      3003 S Congress Ave, Lake Worth, FL 33461
      View Details
    • $1,050,000
      1,710 SF

      Lake Worth Beach Auto Repair Shop

      1710 SF auto repair shop in prime location for sale.
      1901 Florida St, Lake Worth, FL 33460
      View Details
    • $1,900,000
      4,233 SF

      Established Supermarket with Land

      Operational grocery store with land and building included for sale.
      Lake Worth, FL 33461
      View Details
    • $6,800,000
      8,644 SF

      Lake Worth Special Purpose Facility

      Meticulously landscaped 4.91-acre property with an 8,644 SF building.
      7025 Summerville Ter N, Lake Worth, FL 33467
      View Details
    • Contact for pricing
      1.00 Acre

      Lake Worth Commercial Office Space

      Commercial office space available for sale in Lake Worth, Florida.
      3731 Lake Worth Rd, Lake Worth, FL 33461
      View Details
    • New
      Contact for pricing
      90.00 Acres

      Equestrian Estate Near Wellington

      Equestrian facility with stalls, living options, and arenas.
      10601 Tamis Trl, Lake Worth, FL 33449
      View Details
    • New
      Contact for pricing
      90.00 Acres

      Equestrian Estate Near WEF

      Equestrian facility with stalls, living options, and arenas.
      10601 Tamis Trl, Lake Worth, FL 33449
      View Details
    • $1,150,000
      3,600 SF

      Functional Industrial Space with Showroom

      3,600 SF warehouse condo with air-conditioned storefront.
      1979 10Th Ave N, Lake Worth, FL 33461
      View Details
    • $60,000

      Turnkey Brazilian Mini Market/Cafe

      Thriving Brazilian cafe and retail store near I-95.
      Lake Worth, FL 33461
      View Details
    • $795,000
      2,820 SF

      Mixed-Use Property in Lake Worth

      Mixed-use property with bar and apartments on 0.25 acres.
      945 Miner Rd, Lake Worth, FL 33462
      View Details
    • $1,299,000
      3,248 SF

      Lake Worth Beach Quad Plex

      Income-generating quad plex in Lake Worth Beach, move-in ready.
      1216 N 16Th Ave N, Lake Worth, FL 33460
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Large lot to build your dream home in Lake Worth.
    Where is this residential land & home lot located?
    The property is located at 1118 S Palmway Lake Worth, FL.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: - Large lot suitable for building a custom dream home.; - Located in a neighborhood with multi-million dollar homes.; - Close proximity to downtown Lake Worth Beach, West Palm Beach, and Palm Beach.
    (561) 722-9643
    Request Owner's contact information
    1118 S Palmway Lake Worth, FL 33460
    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.
    1118 S Palmway
    Lake Worth, FL 33460
    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
    1118 S Palmway Lake Worth, FL 33460
    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

    We can help!
    Listing Contact
    Jon E Faust
    (561) 722-9643 (561) 588-2900 (561) 309-6555
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!