Historic Retail & Office
129 N Federal Hwy Lake Worth, FL
For Sale
Contact for pricing
8,667 SF historic retail and office building for sale.
Property Size8,667 SF
Lot Size0.29 Acres
Price / SF$265.37
Days on Market604
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
(561) 414-8567
Listed By:
C. Todd Everett, SIOR
Source:
Moodyscre
Added: Dec 2, 2024
Changed: Jul 6
Last Checked: Jul 21 at 6:32AM
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 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 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
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
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- Celestial Roses — 415 N Dixie Hwy Ste 2, Lake Worth Beach, 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
