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    Lake Worth Warehouse Condo Title is generated by Realmo AI

    1979 10th Avenue N, Lake Worth, FL 33461

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    Claim this Listing
    For Sale
    $1,100,000

    COMMERCIAL - Lake Worth Beach, FL

    Property size:
    3,600 SF
    Price / SF:
    $305/SF
    Added:
    Dec 9, 2024
    Days on Market:
    537
    Last Refresh:
    May 30 at 11:06 pm

    Property Features for 1979 10th Avenue N

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    LTI(ci
    Bathrooms
    1
    Rooms
    Bathroom 1
    Standard status
    Active
    APN
    38434421430000180
    Size
    3,600 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    GASLIGHT BUSINESS PARK COND UNIT 18
    Tax Annual Amount
    11525

    Utilities

    Utilities
    Water Available
    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1985
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Tile, Carpet
    Roof type
    Metal

    We can help!

    Listing Contact
    Paul Joseph Dono
    Paul Joseph Dono

    Listing agent Paul Joseph Dono License #3263148

    Listing office Compass Florida LLC 101 N Federal Hwy, 5th Floor, Miami Beach, FL

    Listing date Dec 9, 2024

    MLS# R11043464

    Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    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, maximizing storage flexibility
    • Rear drive‑in bay door and front customer entry for easy access
    • Opportunity to purchase two additional units in the same center
    • Functional industrial space with a flexible floor plan and existing bathroom; plumbing in place for a second

    Overview

    This one-story, single-unit warehouse condo offers approximately 3,600 SF of functional industrial space paired with an air-conditioned storefront, ideal 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. The building features a rear drive-in bay door, front customer entry, and an existing bathroom with plumbing in place for a second. The +/-23 ft ceiling height provides ample vertical clearance for racking, equipment, and efficient storage layouts. Industrial users will appreciate the straightforward loading access and clear, open span that maximizes usability. The location is one minute west of I-95 and minutes from Palm Beach International Airport. This location streamlines operations and cuts time in transit. It is suitable for an end user, investor, or 1031 exchange. The property is located in Lake Worth Beach, FL. The zoning is LTI(ci.

    Local Financial Insights For Flex RnD

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $129.6k $36.00
    − Vacancy −$7.8k −$2.16
    EGI $121.8k $33.84
    − OpEx −$42.6k −$11.84
    NOI $79.2k $22.00
    3,600 SF · lease $36.00/SF/yr · vacancy 6.00% · expense 35.00%

    Alternative Uses

    Best Use
    Flex RnD
    $1.13M
    $989.8K – $1.32M (±1% cap)
    NOI $79,186 @ 7.0% cap · market cap 7.20%
    Second Best
    Retail
    $869.6K
    $760.9K – $1.01M (±1% cap)
    NOI $60,873 @ 7.0% cap · market cap 5.53%
    Theoretical Best
    Office A
    $2.54M
    $2.22M – $2.96M (±1% cap)
    NOI $177,473 @ 7.0% cap · market cap 16.13%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    SupremeKalm Corporate Office Inova Professional LLC Cosmetic Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Worth
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.07188
    Latitude
    26.626863

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    FAQs

    What type of property is this?
    Flex space - 3,600 SF warehouse condo with air-conditioned storefront.
    Where is this flex space located?
    The property is located at 1979 10th Avenue N Lake Worth, FL.
    What is the asking price?
    The asking price for this property is $1,100,000.
    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, maximizing storage flexibility
    (561) 777-4242
    We can help!
    Listing Contact
    Paul Joseph Dono
    Paul Joseph Dono
    Real Estate License ID: 3263148
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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