Multi-Building Industrial Flex
For Sale
$2,195,000
1169 Old Dixie Hwy A10, Lake Park, FL 33403
Three-building industrial and flex complex with studio units and outdoor courtyard for adaptable storage, repair, or creative use.
Property Size8,575 SF
Days on Market48
Property Features for 1169 Old Dixie Hwy A10
General Information
Standard status
Active
Size
8,575 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$23,340
Building Details
Building Size
8,575 SF
Year Built
1972
Stories
1
Units
110
Listing Agency:
Rebel Cook Real Estate
(561) 254-3692
Listed By:
Rebel R. Cook
(561) 254-3692
Source:
Elliman
Added: Jun 21
Changed: Aug 7
Last Checked: Aug 7 at 2:34AM
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 Rebel Cook Real Estate
Investment Insights
Based on property information with market context.
The property is a multi-building industrial and commercial site improved with three structures totaling approximately 8,575 square feet across a 0.61-acre lot. The largest building is approximately 4,300 square feet and has a new roof installed in April 2026. The two remaining buildings together total approximately 4,275 square feet and are separated by an outdoor courtyard. Those buildings are configured into 7 studio units, supporting a single-tenant or multi-tenant approach depending on how the space is reimagined.
The site is located along Old Dixie Highway, a short distance south of Northlake Boulevard in Lake Park, Florida. The overall layout includes an outdoor courtyard that can support practical circulation and staging between the structures.
For owners and operators, this setup can fit a range of uses that benefit from multiple buildings and smaller unit configurations. The current studio-unit division may be particularly workable for storage and light repair needs, and the property has been positioned in public remarks for auto sales, storage, and repair, as well as other reconfiguration opportunities for industrial or creative concepts.
The site is located along Old Dixie Highway, a short distance south of Northlake Boulevard in Lake Park, Florida. The overall layout includes an outdoor courtyard that can support practical circulation and staging between the structures.
For owners and operators, this setup can fit a range of uses that benefit from multiple buildings and smaller unit configurations. The current studio-unit division may be particularly workable for storage and light repair needs, and the property has been positioned in public remarks for auto sales, storage, and repair, as well as other reconfiguration opportunities for industrial or creative concepts.
Key Highlights
- 0.61‑acre industrial/commercial property on Old Dixie Highway with 3 buildings totaling 8,575 SF
- Largest building is approximately 4,300 SF; new roof installed April 2026
- Two additional buildings total approximately 2,400 SF and 1,875 SF, separated by an outdoor courtyard
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
$188,616
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
8.59%
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%
$3,772,320
$3.8M
Cap Rate 7%
$2,694,514
$2.7M
Cap Rate 9%
$2,095,733
$2.1M
Market Conditions
NOI Build-Up for 8,575 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
$308.7K $36.00/SF
− Vacancy
−$18.5K −$2.16/SF
EGI
$290.2K $33.84/SF
− OpEx
−$101.6K −$11.84/SF
NOI
$188.6K $22.00/SF
Area
Palm Beach County, FL
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
35.00%
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%
$3,772,320
Cap Rate 7%
$2,694,514
Cap Rate 9%
$2,095,733
Alternative Uses
Best Use
Flex RnD
$2.69M
$2.36M – $3.14M
NOI $188,616 @ 7.0% cap · market cap 8.59%
Second Best
Retail
$2.07M
$1.81M – $2.42M
NOI $144,996 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$6.04M
$5.28M – $7.05M
NOI $422,730 @ 7.0% cap · market cap 19.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,805
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33403, FL
13,779
Population
5,906
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
3.3 sq mi
ZIP Area
4,175
Density / Sq Mi
$69,050
Median Household Income
$34,019
Median Earnings
$1,426
Median Rent
$340,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Cravin Creole — 3450 Northlake Blvd, North Palm Beach, FL 33403
- Simply Delicious Affairs — 1194 Old Dixie Hwy, Lake Park, FL 33403
- Pure Gold Kombucha — 109 Reed Rd, West Palm Beach, FL 33403
- Luminous Meals — NA, 1301 10th St, Lake Park, FL 33403
Frequently Asked Questions
What type of property is this?
Flex space - Three-building industrial and flex complex with studio units and outdoor courtyard for adaptable storage, repair, or creative use.
Where is this flex space located?
The property is located at 1169 Old Dixie Hwy A10 Lake Park, FL.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: 0.61‑acre industrial/commercial property on Old Dixie Highway with 3 buildings totaling 8,575 SF; Largest building is approximately 4,300 SF; new roof installed April 2026; Two additional buildings total approximately 2,400 SF and 1,875 SF, separated by an outdoor courtyard
