Federal Highway Duplex Development
For Sale
$580,000
1302 S FEDERAL Highway, Lake Worth, FL 33460
The site combines an existing duplex configuration with MU-FH mixed-use zoning.
Property Size1,356 SF
Lot Size0.31 Acres
Days on Market9
Property Features for 1302 S FEDERAL Highway
General Information
Standard status
Active
Size
1,356 SF
Lot size
0.31 Acres
Property subtype
Duplex
Zoning
MU-FH
Site & Location
Road Frontage
100 ft
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Land
Land Use
residential, mixed-use, multifamily, commercial
Entitled
No
Taxes and HOA fees
Annual Taxes
$11,406
Building Details
Building Size
1,356 SF
Year Built
1960
Buildings
1
Listing Agency:
RE/MAX Direct
(561) 866-6498
Listed By:
Sheerin Feizi · License #3278647
(561) 866-6498
Source:
Meyerlucas
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 23 at 6:58AM
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 RE/MAX Direct
Investment Insights
Based on property information with market context.
Located at 1302 S Federal Highway in Lake Worth Beach, this property consists of a duplex arranged with a three-bedroom, two-bath residence and a separate one-bedroom, one-bath unit. The improvements were built in 1960, and the property spans two lots with approximately 100 feet of Federal Highway frontage and a depth of approximately 135 feet.
MU-FH (city) zoning provides a framework for multifamily and mixed-use commercial consideration. The existing duplex may be retained while the south lot is evaluated for additional development, or the property may be considered for redevelopment, subject to verification and approval of density, permitted uses, setbacks, incentives, and other requirements by the City of Lake Worth Beach and applicable authorities.
Water, sewer, electric, and garbage service are provided through Lake Worth Beach and appear on one utility bill. The property is near Downtown Lake Worth Beach, Lake Worth Beach, the Atlantic Ocean, the Lake Worth Beach Tri-Rail station, Downtown West Palm Beach, Palm Beach, and Palm Beach International Airport.
MU-FH (city) zoning provides a framework for multifamily and mixed-use commercial consideration. The existing duplex may be retained while the south lot is evaluated for additional development, or the property may be considered for redevelopment, subject to verification and approval of density, permitted uses, setbacks, incentives, and other requirements by the City of Lake Worth Beach and applicable authorities.
Water, sewer, electric, and garbage service are provided through Lake Worth Beach and appear on one utility bill. The property is near Downtown Lake Worth Beach, Lake Worth Beach, the Atlantic Ocean, the Lake Worth Beach Tri-Rail station, Downtown West Palm Beach, Palm Beach, and Palm Beach International Airport.
Key Highlights
- Duplex includes a 3‑bedroom, 2‑bath residence and a 1‑bedroom, 1‑bath unit
- Two lots with approximately 100 feet of Federal Highway frontage and approximately 135 feet of depth
- MU‑FH (city) zoning for multifamily and mixed‑use commercial consideration
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
$23,391
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
4.03%
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%
$467,820
$467.8K
Cap Rate 7%
$334,157
$334.2K
Cap Rate 9%
$259,900
$259.9K
Market Conditions
NOI Build-Up for 1,356 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
$40.7K $30.00/SF
− Vacancy
−$3.3K −$2.40/SF
EGI
$37.4K $27.60/SF
− OpEx
−$14.0K −$10.35/SF
NOI
$23.4K $17.25/SF
Area
Palm Beach County, FL
Vacancy
8.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$467,820
Cap Rate 7%
$334,157
Cap Rate 9%
$259,900
Alternative Uses
Best Use
Mixed Use
$334.2K
$292.4K – $389.9K
NOI $23,391 @ 7.0% cap · market cap 4.03%
Second Best
Multifamily LT 5
$322.9K
$282.6K – $376.7K
NOI $22,604 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$955.0K
$835.6K – $1.11M
NOI $66,848 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
572
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The site combines an existing duplex configuration with MU-FH mixed-use zoning.
Where is this duplex located?
The property is located at 1302 S FEDERAL Highway Lake Worth, FL.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Duplex includes a 3‑bedroom, 2‑bath residence and a 1‑bedroom, 1‑bath unit; Two lots with approximately 100 feet of Federal Highway frontage and approximately 135 feet of depth; MU‑FH (city) zoning for multifamily and mixed‑use commercial consideration
