Three-Unit Ground-Floor Retail
New
For Sale
$1,673,568
1 South Palmway, Lake Worth, FL 33460
Combined condominium offering includes three ground-level units for an owner-user business location.
Property Size2,808 SF
Price / SF$596
Days on Market2
Property Features for 1 South Palmway
General Information
Standard status
Active
Size
2,808 SF
Property subtype
Retail
Additional Details
Floor
Ground
Building Details
Building Size
2,808 SF
Listing Agency:
Butters Construction & Development
Listed By:
Brian T. Ahearn, CCIM
(954) 937-4540
Source:
Butters
Added: Sep 11
Last Checked: Sep 11 at 2:22PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Butters Construction & Development
Investment Insights
Based on property information with market context.
This retail condominium offering combines Units 101, 102, and 103 on the ground floor, with approximately 2,808 square feet available as a single acquisition. The configuration is suited to an owner-user seeking a dedicated business location under unified ownership.
The property is located at 1 South Palmway in Lake Worth Beach, Florida. All three units are being offered together, providing one retail ownership opportunity within the building.
The property is located at 1 South Palmway in Lake Worth Beach, Florida. All three units are being offered together, providing one retail ownership opportunity within the building.
Key Highlights
- Three ground‑floor retail condominium units offered together
- Approximately 2,808 SF across Units 101, 102, and 103
- Located at 1 South Palmway in Lake Worth Beach, FL 33460
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,481
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$949,620
$949.6K
Cap Rate 7%
$678,300
$678.3K
Cap Rate 9%
$527,567
$527.6K
Market Conditions
NOI Build-Up for 2,808 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$74.1K $26.40/SF
− Vacancy
−$6.3K −$2.24/SF
EGI
$67.8K $24.16/SF
− OpEx
−$20.3K −$7.25/SF
NOI
$47.5K $16.91/SF
Area
Palm Beach County, FL
Vacancy
8.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$949,620
Cap Rate 7%
$678,300
Cap Rate 9%
$527,567
Alternative Uses
Best Use
Retail
$678.3K
$593.5K – $791.4K
NOI $47,481 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,429 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,782
Businesses Nearby
109k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 37%
Groceries 35%
Dining 24%
Home Improvements & Furnishings 4%
Publix
Groceries
38,069 visits/mo
0.4 miles
Starbucks
Dining
10,491 visits/mo
0.4 miles
Dollar General
Shops & Services
8,395 visits/mo
0.1 miles
Wells Fargo
Shops & Services
8,020 visits/mo
0.4 miles
Burger King
Dining
7,850 visits/mo
0.5 miles
Demographics for 33460, FL
36,409
Population
14,769
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
72%
High-School Grad
4.7 sq mi
ZIP Area
7,747
Density / Sq Mi
$61,702
Median Household Income
$32,388
Median Earnings
$1,411
Median Rent
$333,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Combined condominium offering includes three ground-level units for an owner-user business location.
Where is this retail space located?
The property is located at 1 South Palmway Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,673,568.
What are key features of this property?
This property features: Three ground‑floor retail condominium units offered together; Approximately 2,808 SF across Units 101, 102, and 103; Located at 1 South Palmway in Lake Worth Beach, FL 33460
