Turnkey Office Building
For Sale
Contact for pricing
Pending
1032 N Dixie Hwy, Lake Worth, FL 33460
Office building fully transformed in 2023, designed for modern, efficient workspace use and ready for immediate move-in.
Property Size14,000 SF
Days on Market133
Property Features for 1032 N Dixie Hwy
General Information
Standard status
Pending
Size
14,000 SF
Class
A
Property subtype
Office
Zoning
MU-Dixie Hwy
Investment Type
Owner/User
Building Details
Year Built
1930
Year Renovated
2023
Buildings
1
Stories
2
Units
1
Listing Agency:
Strategic Realty Services
Listed By:
Christopher Fleming · License #FL BK441500
(561) 471-5353
Source:
Crexi
Added: Apr 28
Changed: Aug 25
Last Checked: Sep 7 at 4:53AM
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 Strategic Realty Services
Investment Insights
Based on property information with market context.
This office building was completely reimagined in 2023 with a top-to-bottom transformation. It was originally renovated for the current owner’s business, with extensive improvements intended to deliver a modern, efficient, and aesthetically updated work environment. With the owner relocating, the property is now available for purchase as a “move-in tomorrow” opportunity.
The property is located at 1032 N Dixie Hwy in Lake Worth Beach, Florida, and is being brought to market due to the business relocation.
Designed around the needs of the current tenant, the building offers a newly updated interior built to support a streamlined office setup, with no additional build-out required for an incoming owner using the space in a similar manner.
The property is located at 1032 N Dixie Hwy in Lake Worth Beach, Florida, and is being brought to market due to the business relocation.
Designed around the needs of the current tenant, the building offers a newly updated interior built to support a streamlined office setup, with no additional build-out required for an incoming owner using the space in a similar manner.
Key Highlights
- Office building originally built in 1930
- Complete top‑to‑bottom transformation completed in 2023
- Renovations were designed for modern, efficient workspace use
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
$371,070
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
4.78%
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%
$7,421,400
$7.4M
Cap Rate 7%
$5,301,000
$5.3M
Cap Rate 9%
$4,123,000
$4.1M
Market Conditions
NOI Build-Up for 14,000 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
$638.4K $45.60/SF
− Vacancy
−$143.6K −$10.26/SF
EGI
$494.8K $35.34/SF
− OpEx
−$123.7K −$8.84/SF
NOI
$371.1K $26.51/SF
Area
Palm Beach County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
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%
$7,421,400
Cap Rate 7%
$5,301,000
Cap Rate 9%
$4,123,000
Alternative Uses
Best Use
Office B
$5.30M
$4.64M – $6.18M
NOI $371,070 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.86M
$8.63M – $11.50M
NOI $690,171 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office building fully transformed in 2023, designed for modern, efficient workspace use and ready for immediate move-in.
Where is this office building located?
The property is located at 1032 N Dixie Hwy Lake Worth, FL.
What is the asking price?
The asking price for this property is $7,770,000.
What are key features of this property?
This property features: Office building originally built in 1930; Complete top‑to‑bottom transformation completed in 2023; Renovations were designed for modern, efficient workspace use
