Mixed-Use Retail-Office
For Sale
$599,000
424 Dixie Highway, Lake Worth, FL 33460
Storefront-style building with rear parking for six vehicles in the MU-DH mixed-use district.
Property Size1,136 SF
Price / SF$527.29
Days on Market1174
Property Features for 424 Dixie Highway
General Information
Standard status
Active
Size
1,136 SF
Total Parking Spaces
6
Property subtype
Retail
Zoning
MU-DH
Taxes and HOA fees
Annual Taxes
$3,398
Amenities
Electric
3
Building Details
Year Built
1955
Stories
1
Listing Agency:
(561) 405-4960
Listed By:
The Keyes Company
(561) 789-7726
Source:
Xome
Added: Jun 23, 2023
Changed: Sep 6
Last Checked: Sep 7 at 5:29AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This commercial building offers approximately 1,136 square feet and is configured for a storefront-style retail and office setup. The property includes rear parking for six vehicles, supporting convenient customer and staff access.
The building is located in Lake Worth, Florida along Dixie Highway, within the MU-DH Mixed Use zoning district. The MU-DH district is intended to enhance commercial functions along Dixie Highway and supports a mixed-use approach, including higher density residential use.
As a centrally positioned mixed-use property with dedicated rear parking, it may be suited for a range of office and commercial uses consistent with the MU-DH zoning intent.
The building is located in Lake Worth, Florida along Dixie Highway, within the MU-DH Mixed Use zoning district. The MU-DH district is intended to enhance commercial functions along Dixie Highway and supports a mixed-use approach, including higher density residential use.
As a centrally positioned mixed-use property with dedicated rear parking, it may be suited for a range of office and commercial uses consistent with the MU-DH zoning intent.
Key Highlights
- 1,136 SF storefront‑style commercial building in Lake Worth, FL
- MU‑DH (Mixed Use) zoning supports a broad range of office and commercial uses, including higher density residential use
- Rear parking for six vehicles
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
$19,209
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
3.21%
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%
$384,180
$384.2K
Cap Rate 7%
$274,414
$274.4K
Cap Rate 9%
$213,433
$213.4K
Market Conditions
NOI Build-Up for 1,136 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
$30.0K $26.40/SF
− Vacancy
−$2.5K −$2.24/SF
EGI
$27.4K $24.16/SF
− OpEx
−$8.2K −$7.25/SF
NOI
$19.2K $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%
$384,180
Cap Rate 7%
$274,414
Cap Rate 9%
$213,433
Alternative Uses
Best Use
Retail
$274.4K
$240.1K – $320.2K
NOI $19,209 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$800.0K
$700.0K – $933.4K
NOI $56,002 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,955
Businesses Nearby
114k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 39%
Groceries 34%
Dining 22%
Home Improvements & Furnishings 3%
Publix
Groceries
38,069 visits/mo
0.2 miles
Starbucks
Dining
10,491 visits/mo
0.2 miles
Wells Fargo
Shops & Services
8,020 visits/mo
0.2 miles
Burger King
Dining
7,850 visits/mo
0.2 miles
7-Eleven
Shops & Services
7,680 visits/mo
0.5 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 - Storefront-style building with rear parking for six vehicles in the MU-DH mixed-use district.
Where is this storefront property located?
The property is located at 424 Dixie Highway Lake Worth, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1,136 SF storefront‑style commercial building in Lake Worth, FL; MU‑DH (Mixed Use) zoning supports a broad range of office and commercial uses, including higher density residential use; Rear parking for six vehicles
