Freestanding Mixed-Use
New
For Sale
$315,000
626 WASHINGTON Avenue, Lake Worth, FL 33460
The existing layout includes an updated bathroom, a separate storage room, and a private backyard.
Property Size789 SF
Lot Size0.19 Acres
Price / SF$397.73
Days on Market3
Property Features for 626 WASHINGTON Avenue
General Information
Standard status
Active
Size
789 SF
Total Parking Spaces
5
Lot size
0.19 Acres
Property subtype
Mixed Use
Zoning
SFTF14
Financials
Asking Price
$315,000
Opportunity Zone
Yes
Site & Location
Frontage
35 ft
Road Access
Yes
Additional Details
Property Use
Office
Amenities
updated bathroom
dedicated storage room
large private backyard
Building Details
Year Built
1986
Buildings
1
Building Size
789 SF
Tenancy
Single
Owner Occupied
Yes
Listing Agency:
Peters Realty
(561) 400-8860
Listed By:
Victoria Ashrapova · License #3443113
(561) 901-3892
Source:
Lehmannflorida
Added: Oct 25
Changed: Oct 26
Last Checked: Oct 26 at 2:46PM
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 Peters Realty
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Investment Insights
Based on property information with market context.
This freestanding commercial building dates to 1986 and occupies approximately 0.19 acres. Configured for a barber shop or hair salon, it is currently used as an owner's office. Interior features include an updated bathroom and a dedicated storage room, with a private backyard behind the building.
At 626 Washington Avenue in Lake Worth Beach, the property has about 35 feet of frontage and signage along Washington Avenue, plus five parking spaces. A shopping center is directly across the street. The parcel carries SFTF14 zoning, described as allowing single-family, multifamily, and commercial uses, and is within an Opportunity Zone.
At 626 Washington Avenue in Lake Worth Beach, the property has about 35 feet of frontage and signage along Washington Avenue, plus five parking spaces. A shopping center is directly across the street. The parcel carries SFTF14 zoning, described as allowing single-family, multifamily, and commercial uses, and is within an Opportunity Zone.
Key Highlights
- SFTF14 zoning described as allowing single‑family, multifamily, and commercial uses
- Approximately 0.19 acres with a freestanding building
- Approximately 35 feet of frontage along Washington Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,662
Cap Rate
4.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,240
$273.2K
Cap Rate 7%
$195,171
$195.2K
Cap Rate 9%
$151,800
$151.8K
Market Conditions
NOI Build-Up for 792 SF
Gross rent
$23.8K $30.00/SF
− Vacancy
−$1.9K −$2.40/SF
EGI
$21.9K $27.60/SF
− OpEx
−$8.2K −$10.35/SF
NOI
$13.7K $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 Rate 5%
$273,240
Cap Rate 7%
$195,171
Cap Rate 9%
$151,800
Alternative Uses
Best Use
Mixed Use
$195.2K
$170.8K – $227.7K
NOI $13,662 @ 7.0% cap · market cap 4.34%
Second Best
Retail
$191.3K
$167.4K – $223.2K
NOI $13,392 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$557.8K
$488.1K – $650.7K
NOI $39,044 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
656
Businesses Nearby
19k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 51%
Shops & Services 49%
Bravo Supermarkets
Groceries
9,962 visits/mo
0.3 miles
Family Dollar
Shops & Services
6,293 visits/mo
0.3 miles
Advance Auto Parts
Shops & Services
3,209 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The existing layout includes an updated bathroom, a separate storage room, and a private backyard.
Where is this mixed-use property located?
The property is located at 626 WASHINGTON Avenue Lake Worth, FL.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: SFTF14 zoning described as allowing single‑family, multifamily, and commercial uses; Approximately 0.19 acres with a freestanding building; Approximately 35 feet of frontage along Washington Avenue
