Mixed-Use Property with Warehouse
For Sale
$1,500,000
922928 Dixie Highway, Lake Worth, FL 33460
The property combines commercial space with a four-bedroom residence and multiple service areas.
Property Size5,259 SF
Price / SF$285.23
Days on Market1209
Property Features for 922928 Dixie Highway
General Information
Standard status
Active
Size
5,259 SF
Property subtype
Mixed Use
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$15,475
Amenities
Central Air
3
Concrete
Building Details
Year Built
1947
Buildings
3
Listing Agency:
Coastline Realty, Inc.
(561) 588-2900
Listed By:
Jon Faust · License #590401
(561) 722-9643
Source:
Xome
Added: May 20, 2023
Changed: Sep 8
Last Checked: Sep 8 at 2:35PM
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 Coastline Realty, Inc.
Investment Insights
Based on property information with market context.
This mixed-use property includes multiple commercial components along with a residential home. The primary space at 922 S Dixie includes approximately 5,259 square feet arranged originally as four bays, with four entrances and four separate meters. It also offers a bathroom and plumbing for additional bathrooms. A second commercial component at 928 S Dixie includes retail or warehouse space, an office, a bathroom, and a garage.
The property also includes 921 S J St, a four-bedroom, two-bath home with a laundry room, updated kitchen, garage, and two off-street parking spaces. Central air and concrete construction are noted, with the improvements dating to 1947. The addresses are located near downtown and I95 in Lake Worth Beach.
The property also includes 921 S J St, a four-bedroom, two-bath home with a laundry room, updated kitchen, garage, and two off-street parking spaces. Central air and concrete construction are noted, with the improvements dating to 1947. The addresses are located near downtown and I95 in Lake Worth Beach.
Key Highlights
- Approximately 5,259 square feet at 922 S Dixie
- Primary commercial space originally configured as 4 bays with 4 entrances and 4 meters
- 928 S Dixie includes retail or warehouse space, an office, bathroom, and garage
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
$90,718
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
6.05%
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%
$1,814,360
$1.8M
Cap Rate 7%
$1,295,971
$1.3M
Cap Rate 9%
$1,007,978
$1.0M
Market Conditions
NOI Build-Up for 5,259 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
$157.8K $30.00/SF
− Vacancy
−$12.6K −$2.40/SF
EGI
$145.1K $27.60/SF
− OpEx
−$54.4K −$10.35/SF
NOI
$90.7K $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%
$1,814,360
Cap Rate 7%
$1,295,971
Cap Rate 9%
$1,007,978
Alternative Uses
Best Use
Mixed Use
$1.30M
$1.13M – $1.51M
NOI $90,718 @ 7.0% cap · market cap 6.05%
Second Best
Retail
$1.27M
$1.11M – $1.48M
NOI $88,925 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$3.70M
$3.24M – $4.32M
NOI $259,258 @ 7.0% cap · market cap 17.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
319
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines commercial space with a four-bedroom residence and multiple service areas.
Where is this mixed-use property located?
The property is located at 922928 Dixie Highway Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approximately 5,259 square feet at 922 S Dixie; Primary commercial space originally configured as 4 bays with 4 entrances and 4 meters; 928 S Dixie includes retail or warehouse space, an office, bathroom, and garage
