Warehouse Condo with Air-Conditioned
1979 10th Ave N, Lake Worth, FL 33461
For Sale
$1,175,000
3,600 SF warehouse condo with convenient access and high ceilings.
Property Size3,600 SF
Price / SF$326.39
Days on Market231
Property Features for 1979 10th Ave N
General Information
Standard status
Size
Building Details
Year Built
Listing Agency:
Home & Business Partners, LLC
Listed By:
Cheryl L Spearling · License FL #3352735
(561) 480-0023
Source:
Thepennteam
Added: Mar 27
Changed: Oct 25
Last Checked: Oct 7 at 4:50PM
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 Home & Business Partners, LLC
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Investment Insights
Based on property information with market context.
This one-story, single-unit warehouse condo offers approximately 3,600 SF of functional industrial space paired with an air-conditioned storefront, suitable for showroom, light distribution, or service-oriented operations. The property is in good condition and presents a clean, flexible floor plan that can accommodate a variety of business setups. It features a rear drive-in bay door, front customer entry, and an existing bathroom with plumbing in place for a second. The ceiling height of approximately 23 ft provides ample vertical clearance for racking, equipment, and efficient storage layouts. The location is situated one minute west of I-95 and minutes from Palm Beach International Airport, placing it at the heart of Palm Beach County's business network with quick regional connectivity. The property streamlines operations and reduces transit time. There is an opportunity to purchase two additional units in the same center from the same owner, enabling buyers to scale their footprint or assemble a larger portfolio within a proven location. It is located in Lake Worth Beach, Florida.
Key Highlights
- Excellent location: 1 minute west of I‑95 and minutes from Palm Beach International Airport.
- 3,600 SF warehouse condo with air‑conditioned storefront.
- ±23 ft clear ceiling height allows for ample vertical clearance.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,864
Cap Rate
3.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$777,280
$777.3K
Cap Rate 7%
$555,200
$555.2K
Cap Rate 9%
$431,822
$431.8K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$58.8K $16.32/SF
− Vacancy
−$3.2K −$0.90/SF
EGI
$55.5K $15.42/SF
− OpEx
−$16.7K −$4.63/SF
NOI
$38.9K $10.80/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$777,280
Cap Rate 7%
$555,200
Cap Rate 9%
$431,822
Alternative Uses
Best Use
Industrial
$555.2K
$485.8K – $647.7K
NOI $38,864 @ 7.0% cap · market cap 3.31%
Second Best
Flex RnD
$542.1K
$474.3K – $632.4K
NOI $37,946 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$2.54M
$2.22M – $2.96M
NOI $177,473 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,260
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33461, FL
47,161
Population
18,095
Households
2.6
Avg Household Size
36
Median Age
17%
College-Educated
75%
High-School Grad
7.1 sq mi
ZIP Area
6,642
Density / Sq Mi
$61,218
Median Household Income
$31,503
Median Earnings
$1,615
Median Rent
$263,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Flex space in Palm Beach County, FL
Properties on Market for Flex space in Palm Beach County
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Nosh Catering and Events — 1710 N Dixie Hwy, Lake Worth Beach, FL 33460
- White Apron Catering — 1710 N Dixie Hwy, Lake Worth Beach, FL 33460
Frequently Asked Questions
What type of property is this?
Flex space - 3,600 SF warehouse condo with convenient access and high ceilings.
Where is this flex space located?
The property is located at 1979 10th Ave N Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Excellent location: 1 minute west of I‑95 and minutes from Palm Beach International Airport.; 3,600 SF warehouse condo with air‑conditioned storefront.; ±23 ft clear ceiling height allows for ample vertical clearance.
