Three-Unit Ground-Floor Retail
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 Market47
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
Changed: Oct 25
Last Checked: Oct 26 at 1:15PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$47,481
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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
