Multi-Tenant Warehouse in Lake
1103 5th Ave N Lake Worth, FL 33460
For Sale
$2,150,000
10,200 SF multi-tenant warehouse property with 21 small bay units.
Property Size10,200 SF
Price / SF$210.78
Days on Market106
Property Features for 1103 5th Ave N
General Information
- Standard status
- Active
- Size
- 10,200 SF
- Property subtype
- Warehouse
Building Details
- Year Built
- 1965
Listing Agency:
(786) 522-7087
Listed By:
Ryan T. Shaw · License #License(s): FL: SL3046910
(786) 522-7087
Source:
Marcusmillichap
Added: Apr 10
Changed: Jul 10
Last Checked: Jul 24 at 4:42AM
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 Ryan T. Shaw
Investment Insights
Based on property information with market context.
Located at 1103 5th Avenue N in Lake Worth Beach, Florida, this 10,200-square-foot multi-tenant warehouse property features 21 small bay units. The property is designed for flexibility and consistent tenant demand, accommodating a variety of local service businesses, contractors, and storage users. It benefits from a functional layout and convenient access to major Palm Beach County thoroughfares. The property is situated within the Artisanal Industrial (AI) zoning district established by Lake Worth Beach, which fosters its expanding arts and maker economy. This zoning designation permits small-scale, creative production activities consistent with the city’s cultural identity. It is also compatible with nearby residential and mixed-use areas, encouraging the reuse of older buildings and attracting modern tenants such as studios, workshops, and small-scale manufacturers. The property is located in Lake Worth Beach, an emerging coastal market in Palm Beach County known for its revitalized downtown, diverse population, and growing small-business ecosystem. The city has experienced a steady resurgence driven by its Community Redevelopment Agency, which has helped transform key corridors like Dixie Highway and the downtown core into a walkable hub of art galleries, restaurants, and local retailers. Ongoing public and private investment, including mixed-use redevelopment, affordable housing initiatives, and large-scale projects such as proposed oceanfront hotel and resort developments, are positioning Lake Worth as a value-oriented alternative to higher-priced neighboring markets like West Palm Beach and Delray Beach.
Key Highlights
- Value‑add opportunity with mark‑to‑market rental upside.
- Located in the Artisanal Industrial (AI) zoning district.
- Features 21 small bay units designed for flexibility.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $166.5k | $16.32 |
| − Vacancy | −$9.2k | −$0.90 |
| EGI | $157.3k | $15.42 |
| − OpEx | −$23.6k | −$2.31 |
| NOI | $133.7k | $13.11 |
10,200 SF · lease $16.32/SF/yr · vacancy 5.50% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.91M
$1.67M – $2.23M
NOI $133,712 @ 7.0% cap · market cap 6.22%
Second Best
Industrial
$1.57M
$1.38M – $1.84M
NOI $110,116 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$7.18M
$6.29M – $8.38M
NOI $502,839 @ 7.0% cap · market cap 23.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Oscar auto body ...
Auto Repair Shop
Similar Off Market Nearby
- Proficient Towing and Transport Inc. — 2139 2nd Ave N, Lake Worth, FL 33460, United States
- Old Mill Moving & Storage Inc — 120 n k st, lake worth, fl 33460
- Self Storage Association — 202 Federal Hwy, Lake Worth Beach, FL 33460
- Move Safe Relocation — 811 Lucerne Ave, Lake Worth Beach, FL 33460
- Foremost Moving And Storage INC — 616 Lucerne Ave, Lake Worth, FL 33460
FAQs
What type of property is this?
Warehouse - 10,200 SF multi-tenant warehouse property with 21 small bay units.
Where is this warehouse located?
The property is located at 1103 5th Ave N Lake Worth, FL.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Value‑add opportunity with mark‑to‑market rental upside.; Located in the Artisanal Industrial (AI) zoning district.; Features 21 small bay units designed for flexibility.