Equipped Restaurant with Outdoor
New
For Sale
Contact for pricing
614 Lake Avenue, Lake Worth, FL 33460
Renovated hospitality space includes installed kitchen and back-of-house systems.
Property Size2,900 SF
Price / SF$551.72
Days on Market7
Property Features for 614 Lake Avenue
General Information
Standard status
Active
Size
2,900 SF
Class
B
Property subtype
Retail
Zoning
Downtown Zoning District (DT - Downtown Lake Worth)
Lease Type
NNN
Investment Type
Owner/User
Restaurant
Grease Trap
Yes
Patio
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Building Details
Year Built
1955
Year Renovated
2023
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Strategic Realty Services
(561) 471-5353
Listed By:
Christopher Fleming · License #FL BK441500
Source:
Crexi
Added: Aug 10
Changed: Aug 15
Last Checked: Aug 15 at 8:56AM
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 Strategic Realty Services
Investment Insights
Based on property information with market context.
This conventional restaurant property provides 2,405± SF of interior space plus approximately 500 SF of covered outdoor dining. Renovated in 2023, the venue includes the furniture, fixtures, and equipment needed for restaurant or pub operations, along with a built-out kitchen and back-of-house areas. Interior features include 14-foot pecky cypress ceilings, tile and wood flooring, an in-ground grease trap, and a 15-ton HVAC system installed in 2019. The roof was also replaced in 2019.
The property is located at 614 Lake Avenue in Lake Worth Beach, between US-1/Dixie Highway and Federal Highway. It includes public parking and building signage permitted under city code. The site is within the Downtown Zoning District (DT - Downtown Lake Worth), supporting its established restaurant and entertainment setting.
The property is located at 614 Lake Avenue in Lake Worth Beach, between US-1/Dixie Highway and Federal Highway. It includes public parking and building signage permitted under city code. The site is within the Downtown Zoning District (DT - Downtown Lake Worth), supporting its established restaurant and entertainment setting.
Key Highlights
- 2,405± SF restaurant with approximately 500 SF of covered outdoor dining
- Renovated in 2023 with furniture, fixtures, and equipment included
- 14‑foot pecky cypress ceilings with tile and wood flooring
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
$55,828
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
3.49%
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%
$1,116,560
$1.1M
Cap Rate 7%
$797,543
$797.5K
Cap Rate 9%
$620,311
$620.3K
Market Conditions
NOI Build-Up for 2,900 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
$80.0K $27.60/SF
− Vacancy
−$5.6K −$1.93/SF
EGI
$74.4K $25.67/SF
− OpEx
−$18.6K −$6.42/SF
NOI
$55.8K $19.25/SF
Area
Palm Beach County, FL
Vacancy
7.00%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,116,560
Cap Rate 7%
$797,543
Cap Rate 9%
$620,311
Alternative Uses
Best Use
Specialty Retail
$797.5K
$697.9K – $930.5K
NOI $55,828 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $142,964 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
2k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 100%
Fairfield Inn & Suites by Marriott Palm Beach
Hotels & Casinos
2,396 visits/mo
0.1 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Renovated hospitality space includes installed kitchen and back-of-house systems.
Where is this conventional restaurant located?
The property is located at 614 Lake Avenue Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 2,405± SF restaurant with approximately 500 SF of covered outdoor dining; Renovated in 2023 with furniture, fixtures, and equipment included; 14‑foot pecky cypress ceilings with tile and wood flooring
