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    Historic Retail & Office Building Title is generated by Realmo AI

    129 N Federal Hwy, Lake Worth, FL

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    8,667 SF historic retail and office building for sale.

    Type:RETAIL
    Property size:
    8,667 SF
    Lot size:
    0.29 Acres
    Price / SF:
    $265/SF
    Added:
    Dec 2, 2024
    Days on Market:
    559
    Last Refresh:
    May 20 at 9:32 pm

    Property Features for 129 N Federal Hwy

    General Information

    Standard status
    Active
    Size
    8,667 SF
    Lot size
    0.29 Acres
    Property subtype
    RETAIL

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    Listing Contact
    C. Todd Everett, SIOR

    Listing agent C. Todd Everett, SIOR

    Listing office Lee & Associates | Broward/Palm Beach

    Listing date Dec 2, 2024

    Source Moodyscre

    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 Lee & Associates | Broward/Palm Beach

    HighLights

    • Value‑Add Below Market Rents
    • Prime Location: Signalized intersection with 220 feet of combined frontage on 2nd Ave N and N Federal Hwy
    • Historic 8,667 SF Retail & Office Building
    • Ground Floor: Vacant bar space, the "Oldest Bar in Palm Beach County"
    • Recent Improvements: 2 of 3 buildings reroofed October 2024
    • High Walkability: Minutes from I‑95 and beaches, walking distance to Downtown Lake Worth

    Overview

    This 8,667 square-foot historic retail and office building, constructed in 1928, features masonry construction. Located at a signalized intersection, the property offers 220 feet of combined frontage, with 120 feet on 2nd Avenue N and 100 feet on N Federal Hwy. The ground floor includes a vacant bar, noted as the "Oldest Bar in Palm Beach County". Two of the three buildings were reroofed in October 2024. The property benefits from high walkability and is located minutes from I-95 and the beaches, as well as within walking distance to Lake Avenue and Lucerne Avenue in Downtown Lake Worth. The property is a value-add opportunity with below-market rents.

    Local Financial Insights For Specialty Retail

    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 $239.2k $27.60
    − Vacancy −$16.7k −$1.93
    EGI $222.5k $25.67
    − OpEx −$55.6k −$6.42
    NOI $166.8k $19.25
    8,667 SF · lease $27.60/SF/yr · vacancy 7.00% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $2.38M
    $2.09M – $2.78M (±1% cap)
    NOI $166,848 @ 7.0% cap · market cap 7.25%
    Second Best
    Retail
    $2.09M
    $1.83M – $2.44M (±1% cap)
    NOI $146,552 @ 7.0% cap · market cap 6.37%
    Theoretical Best
    Office A
    $6.10M
    $5.34M – $7.12M (±1% cap)
    NOI $427,265 @ 7.0% cap · market cap 18.58%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Assurance Insurance Connection ... Insurance Agency Mascara Law Firm, ... Law Firm Sea Squared Interprises Business Service Center Choice Counseling Center ... Medical Clinic Relax With Kam Hair Salon

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Austintatious Designs, LLC — 7106 S Dixie Hwy, West Palm Beach, FL 33405

    Location Insight

    • Map
    • Local Demand
    City
    Lake Worth
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0525
    Latitude
    26.6176

    FAQs

    What type of property is this?
    Storefront property - 8,667 SF historic retail and office building for sale.
    Where is this storefront property located?
    The property is located at 129 N Federal Hwy Lake Worth, FL.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: Value‑Add Below Market Rents; Prime Location: Signalized intersection with 220 feet of combined frontage on 2nd Ave N and N Federal Hwy; Historic 8,667 SF Retail & Office Building
    (954) 399-6299 Call to check price and availability
    More about this property
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