Historic Retail & Office
For Sale
Contact for pricing
129 N Federal Hwy, Lake Worth, FL
8,667 SF historic retail and office building for sale.
Property Size8,667 SF
Lot Size0.29 Acres
Price / SF$265.37
Days on Market699
Property Features for 129 N Federal Hwy
General Information
Standard status
Active
Size
8,667 SF
Lot size
0.29 Acres
Property subtype
RETAIL
Listing Agency:
Lee & Associates | Broward/Palm Beach
(954) 399-6299
Listed By:
C. Todd Everett, SIOR · License #SL3265231
(561) 414-8567
Source:
Moodyscre
Added: Dec 2, 2024
Changed: Oct 25
Last Checked: Oct 30 at 6:16PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
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.
Key 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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$166,848
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,336,960
$3.3M
Cap Rate 7%
$2,383,543
$2.4M
Cap Rate 9%
$1,853,867
$1.9M
Market Conditions
NOI Build-Up for 8,667 SF
Gross rent
$239.2K $27.60/SF
− Vacancy
−$16.7K −$1.93/SF
EGI
$222.5K $25.67/SF
− OpEx
−$55.6K −$6.42/SF
NOI
$166.8K $19.25/SF
Area
Palm Beach County, FL
Vacancy
7.00%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,336,960
Cap Rate 7%
$2,383,543
Cap Rate 9%
$1,853,867
Alternative Uses
Best Use
Specialty Retail
$2.38M
$2.09M – $2.78M
NOI $166,848 @ 7.0% cap · market cap 7.25%
Second Best
Retail
$2.09M
$1.83M – $2.44M
NOI $146,552 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$6.10M
$5.34M – $7.12M
NOI $427,265 @ 7.0% cap · market cap 18.58%
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
1,875
Businesses Nearby
118k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Groceries 32%
Dining 22%
Home Improvements & Furnishings 3%
Publix
Groceries
38,069 visits/mo
0.2 miles
Starbucks
Dining
10,491 visits/mo
0.2 miles
Dollar General
Shops & Services
8,395 visits/mo
0.4 miles
Wells Fargo
Shops & Services
8,020 visits/mo
0.2 miles
Burger King
Dining
7,850 visits/mo
0.2 miles
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
Similar Off Market Nearby
- Fleur De Lis — Lake Worth Beach, FL 33460
- Celestial Roses — 415 N Dixie Hwy Ste 2, Lake Worth Beach, FL 33460
- Liriann Flowers Design — 901 N Dixie Hwy, Lake Worth Beach, FL 33460
- Liriann Flowers Designs — 901 N Dixie Hwy suite 14, Lake Worth, FL 33460
Frequently Asked Questions
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
