Office Building with Private
New
For Sale
$730,000
1601 N FEDERAL Highway, Lake Worth, FL 33460
Reception space, multiple offices, and parking serve the existing professional office layout.
Property Size1,236 SF
Days on Market7
Property Features for 1601 N FEDERAL Highway
General Information
Standard status
Active
Size
1,236 SF
Property subtype
Office
Zoning
MU-FH
Additional Details
Property Use
Office
Taxes and HOA fees
Annual Taxes
$7,160
Building Details
Building Size
1,236 SF
Year Built
1961
Listing Agency:
Jason Mitchell Real Estate Flo
Listed By:
Nicole Plummer · License #3411648
(305) 798-1684
Source:
Meyerlucas
Added: Oct 26
Changed: Oct 31
Last Checked: Oct 30 at 10:31PM
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 Jason Mitchell Real Estate Flo
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office building, constructed in 1961, is arranged with a reception and waiting area alongside multiple private offices. The property comprises two lots and includes parking. It is currently used for professional office purposes.
Zoned MU-FH (Mixed Use), the property may accommodate other uses subject to city approval. Its Lake Worth Beach location is near Downtown Lake Worth Beach, Downtown West Palm Beach, Palm Beach International Airport, and the Lake Worth Beach Municipal Golf Course.
Zoned MU-FH (Mixed Use), the property may accommodate other uses subject to city approval. Its Lake Worth Beach location is near Downtown Lake Worth Beach, Downtown West Palm Beach, Palm Beach International Airport, and the Lake Worth Beach Municipal Golf Course.
Key Highlights
- 1961 construction
- Reception and waiting area with multiple private offices
- Two lots
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,760
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,200
$655.2K
Cap Rate 7%
$468,000
$468.0K
Cap Rate 9%
$364,000
$364.0K
Market Conditions
NOI Build-Up for 1,236 SF
Gross rent
$56.4K $45.60/SF
− Vacancy
−$12.7K −$10.26/SF
EGI
$43.7K $35.34/SF
− OpEx
−$10.9K −$8.84/SF
NOI
$32.8K $26.51/SF
Area
Palm Beach County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,200
Cap Rate 7%
$468,000
Cap Rate 9%
$364,000
Alternative Uses
Best Use
Office B
$468.0K
$409.5K – $546.0K
NOI $32,760 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$870.5K
$761.7K – $1.02M
NOI $60,932 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
644
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Reception space, multiple offices, and parking serve the existing professional office layout.
Where is this office building located?
The property is located at 1601 N FEDERAL Highway Lake Worth, FL.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: 1961 construction; Reception and waiting area with multiple private offices; Two lots
