Downtown Lake Worth Retail
For Sale
$1,200,000
705 Lake Ave, Lake Worth, FL 33460
2,500 SF single-tenant retail in historic downtown Lake Worth.
Property Size2,500 SF
Days on Market276
Property Features for 705 Lake Ave
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Retail
Building Details
Building Size
2,500 SF
Year Built
1926
Listing Agency:
Lee & Associates | Broward/Palm Beach
(561) 414-8567
Listed By:
C. Todd Everett, SIOR · License #SL3265231
(561) 414-8567
Source:
Lee-associates
Added: Nov 24, 2025
Changed: Aug 26
Last Checked: Aug 26 at 2:32PM
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
Investment Insights
Based on property information with market context.
This 2,500 square foot single-tenant retail property is located in historic downtown Lake Worth. The property benefits from exceptional pedestrian traffic due to its frontage on Lake Avenue and Lucerne Avenue. The surrounding area features historic charm and a vibrant cultural scene, including galleries and theaters. Its proximity to beaches, parks, and popular attractions ensures steady foot traffic. The property is currently occupied by a long-term, popular boutique tenant that is a local favorite amongst local artisans and tourists.
Key Highlights
- Exceptional pedestrian traffic on Lake and Lucerne Avenues.
- Long‑term, popular boutique tenant.
- 2,500 SF Single‑Tenant Retail Investment.**
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
$42,273
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
3.52%
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%
$845,460
$845.5K
Cap Rate 7%
$603,900
$603.9K
Cap Rate 9%
$469,700
$469.7K
Market Conditions
NOI Build-Up for 2,500 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
$66.0K $26.40/SF
− Vacancy
−$5.6K −$2.24/SF
EGI
$60.4K $24.16/SF
− OpEx
−$18.1K −$7.25/SF
NOI
$42.3K $16.91/SF
Area
Palm Beach County, FL
Vacancy
8.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
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%
$845,460
Cap Rate 7%
$603,900
Cap Rate 9%
$469,700
Alternative Uses
Best Use
Retail
$603.9K
$528.4K – $704.6K
NOI $42,273 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,245 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,878
Businesses Nearby
119k
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
0.3 miles
Starbucks
Dining
10,491 visits/mo
0.2 miles
Dollar General
Shops & Services
8,395 visits/mo
0.3 miles
Wells Fargo
Shops & Services
8,020 visits/mo
0.2 miles
Burger King
Dining
7,850 visits/mo
0.3 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - 2,500 SF single-tenant retail in historic downtown Lake Worth.
Where is this storefront property located?
The property is located at 705 Lake Ave Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Exceptional pedestrian traffic on Lake and Lucerne Avenues.; Long‑term, popular boutique tenant.; 2,500 SF Single‑Tenant Retail Investment.**
