Renovated Mixed-Use
For Sale
Contact for pricing
1822 North Dixie Highway, Lake Worth, FL 33460
Includes an equipped salon, apartment, and separate lot currently serving as overflow parking.
Property Size3,200 SF
Price / SF$578.13
Days on Market9
Property Features for 1822 North Dixie Highway
General Information
Standard status
Active
Size
3,200 SF
Class
C
Property subtype
Retail, Office, Mixed Use
Zoning
Mixed Use Dixie Highway (HIC-1)
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Building Details
Year Built
1953
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Reichel Realty & Investments Inc
Listed By:
William Reichel · License #FL
Source:
Crexi
Added: Jul 29
Changed: Aug 3
Last Checked: Aug 6 at 3:53AM
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 Reichel Realty & Investments Inc
Investment Insights
Based on property information with market context.
This mixed-use property comprises two commercial lots and a renovated two-story building totaling approximately 3,200 SF. The ground level contains a fully equipped nail and hair salon, with furniture, fixtures, and equipment included. The upper level offers a three-bedroom, two-bath apartment of approximately 1,370 SF. The building was originally constructed in 1953 and has since been renovated.
The second lot is currently used for overflow parking and is identified for potential development with another mixed-use building. The property is located within the Mixed Use Dixie Highway (HIC-1) zoning district. Delivery at closing will be vacant, allowing the next owner to control both the commercial and residential components.
The second lot is currently used for overflow parking and is identified for potential development with another mixed-use building. The property is located within the Mixed Use Dixie Highway (HIC-1) zoning district. Delivery at closing will be vacant, allowing the next owner to control both the commercial and residential components.
Key Highlights
- Two commercial lots included in the property
- Two‑story building totaling ±3,200 SF
- Equipped nail and hair salon with FF&E included
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
$55,200
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
2.98%
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%
$1,104,000
$1.1M
Cap Rate 7%
$788,571
$788.6K
Cap Rate 9%
$613,333
$613.3K
Market Conditions
NOI Build-Up for 3,200 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
$96.0K $30.00/SF
− Vacancy
−$7.7K −$2.40/SF
EGI
$88.3K $27.60/SF
− OpEx
−$33.1K −$10.35/SF
NOI
$55.2K $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%
$1,104,000
Cap Rate 7%
$788,571
Cap Rate 9%
$613,333
Alternative Uses
Best Use
Mixed Use
$788.6K
$690.0K – $920.0K
NOI $55,200 @ 7.0% cap · market cap 2.98%
Second Best
Retail
$773.0K
$676.4K – $901.8K
NOI $54,109 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,753 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
661
Businesses Nearby
55k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Groceries 30%
Shops & Services 27%
McDonald's
Dining
23,909 visits/mo
0.4 miles
Presidente Supermarkets
Groceries
8,719 visits/mo
0.4 miles
Bravo Supermarkets
Groceries
7,898 visits/mo
0.4 miles
Chevron
Shops & Services
5,133 visits/mo
0.1 miles
Exxon
Shops & Services
4,537 visits/mo
0.3 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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes an equipped salon, apartment, and separate lot currently serving as overflow parking.
Where is this mixed-use property located?
The property is located at 1822 North Dixie Highway Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Two commercial lots included in the property; Two‑story building totaling ±3,200 SF; Equipped nail and hair salon with FF&E included
