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

    305 5Th St Lake Park, FL 33403

    View on Map
    Sponsored
    For Sale
    $1,450,000

    MULTI_FAMILY - Lake Park, FL

    Property size:
    2,903 SF
    Lot size:
    0.29 Acres
    Days on Market:
    19
    Last Refresh:
    Mar 17 at 1:06 am

    Property Features for 305 5Th St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Storm Window(s)
    Zoning
    R1(cit
    Rooms
    Bathroom 1, Bedroom 2, Bathroom 4, Bedroom 1, Bedroom 5, Bathroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 6, Bedroom 8, Bedroom 7
    Bedrooms
    8
    Bathrooms
    4
    APN
    36434220010690440
    Fencing
    Fenced
    Size
    2,903 SF
    Lot size
    0.29 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1928
    Floors in Building
    2
    Number of units
    5
    Flooring type
    Tile - Ceramic, Carpet, Linoleum
    Building materials
    CBS, Frame, Stucco
    Roof type
    Composition
    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    Fabian Robert McCullon
    Fabian Robert McCullon

    RE/MAX Prestige Realty (561) 793-1480

    Listing agent Fabian Robert McCullon (561) 798-8080 License #3016356

    Listing date Feb 26, 2026

    MLS# R11126199 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 Park Multifamily Investment Property

    This 5-unit apartment property offers a blend of convenience, comfort, and investment potential. The property includes four 2-bedroom, 1-bathroom units and a standalone cottage. The property has been maintained with landscaped grounds. All tenants are on month-to-month annual leases. Each unit is separately metered for electric and water. Residents benefit from central air conditioning, impact windows, and an on-site laundry facility. A full surveillance system is in place for enhanced safety. Located blocks from the Intracoastal Waterway, the property provides access to shopping, dining, and entertainment. The main roof will be replaced prior to closing. The property size is 2903 square feet on a 0.29-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Park
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.058917
    Latitude
    26.794832

    Nearby Similar for Sale

    • $2,725,000
      8,931 SF

      Retail Property in Downtown Lake

      Retail property in the heart of Lake Park's downtown district.
      810 Park Ave, Lake Park, FL 33403
      View Details
    • $1,450,000
      2,903 SF

      Lake Park 5-Unit Apartment Property

      Well-maintained 5-unit apartment property with strong investment potential.
      305 Cypress Dr E, Lake Park, FL 33403
      View Details
    • $885,000
      Pending

      Renovated Office/Warehouse Condo in Lake Park

      3,580 SF renovated office/warehouse condo in Lake Park Business District.
      1125 Old Dixie Hwy, Lake Park, FL 33403
      View Details
    • Contact for pricing

      Flex Office/Warehouse in Lake Park

      Well-maintained flex office/warehouse with easy access to major routes.
      806 Old Dixie Hwy, Lake Park, FL 33403
      View Details
    • $885,000
      Pending

      Renovated Office/Warehouse Condo in Lake Park

      3,580 SF renovated office/warehouse condo in Lake Park Business District.
      1125 Old Dixie Hwy, Lake Park, FL 33403
      View Details
    • $2,600,000

      Lake Park Industrial/Commercial Property

      Industrial/Commercial property in Lake Park with redevelopment potential.
      1169 Old Dixie Hwy, Lake Park, FL 33403
      View Details
    • $1,450,000

      Well-Maintained 5-Unit Apartment Property

      Income-producing property near Intracoastal Waterway with flexible rental options.
      305 5Th St, Lake Park, FL 33403
      View Details
    • $760,000

      Two Homes on One Lot

      Two renovated homes on one lot, ideal for rentals.
      512 Bayberry Dr, Lake Park, FL 33403
      View Details
    • $2,725,000

      Lake Park Downtown District Property

      Property in the heart of Lake Park's Downtown District.
      810 Park Ave, Lake Park, FL 33403
      View Details
    • $1,450,000

      Five-Unit Apartment Property For Sale

      Well-maintained 5-unit property with flexible leases and individual metering.
      305 5Th St, Lake Park, FL 33403
      View Details
    • $465,000

      Lake Park Duplex Opportunity

      Duplex in Lake Park, ideal for rental income.
      652 Bayberry Dr, Lake Park, FL 33403
      View Details

    FAQs

    What type of property is this?
    Apartment building - Well-maintained 5-unit apartment property near Intracoastal Waterway.
    Where is this apartment building located?
    The property is located at 305 5Th St Lake Park, FL.
    What is the asking price?
    The asking price for this property is $1,450,000.
    What are key features of this property?
    This property features: - Prime location: Blocks from the Intracoastal Waterway, with easy access to shopping, dining, and entertainment.; - Five units: Four 2-bedroom, 1-bathroom units plus a standalone cottage, offering diverse rental opportunities.; - Separately metered units: Each unit is individually metered for electric and water, maximizing efficiency.
    (561) 798-8080
    Request Owner's contact information
    305 5Th St Lake Park, FL 33403
    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.
    305 5Th St
    Lake Park, FL 33403
    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
    305 5Th St Lake Park, FL 33403
    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
    Fabian Robert McCullon
    Fabian Robert McCullon
    Real Estate License ID: 3016356
    (561) 798-8080 (561) 262-3565 (561) 841-2288
    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!