Storefront
New
For Sale
Contact for pricing
6950 S Congress Ave, Lake Worth, FL 33462
A 12,448-square-foot storefront remains subject to an active tenant lease despite the tenant's cessation of operations.
Property Size12,448 SF
Price / SF$450
Days on Market6
Property Features for 6950 S Congress Ave
General Information
Standard status
Active
Size
12,448 SF
Property subtype
RETAIL
Net Operating Income
$308,400
Additional Details
Tenant in Place
Yes
Listing Agency:
Matthews Real Estate Investment Services | Fort Lauderdale
(866) 899-0550
Listed By:
Grant Steinberg · License #SL3539035
(561) 558-7695
Source:
Moodyscre
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 30 at 4:31PM
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 Matthews Real Estate Investment Services | Fort Lauderdale
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 12,448-square-foot storefront is leased to an existing tenant that has stopped operating at the property. The tenant remains bound by its lease, which provides net rental income to ownership.
Located at 6950 S Congress Ave in Lake Worth, Florida, the property is offered for sale.
Located at 6950 S Congress Ave in Lake Worth, Florida, the property is offered for sale.
Key Highlights
- 12,448‑square‑foot storefront property
- Existing tenant remains obligated under its lease after ceasing operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$210,486
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,209,720
$4.2M
Cap Rate 7%
$3,006,943
$3.0M
Cap Rate 9%
$2,338,733
$2.3M
Market Conditions
NOI Build-Up for 12,448 SF
Gross rent
$328.6K $26.40/SF
− Vacancy
−$27.9K −$2.24/SF
EGI
$300.7K $24.16/SF
− OpEx
−$90.2K −$7.25/SF
NOI
$210.5K $16.91/SF
Area
Palm Beach County, FL
Vacancy
8.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,209,720
Cap Rate 7%
$3,006,943
Cap Rate 9%
$2,338,733
Alternative Uses
Best Use
Retail
$3.01M
$2.63M – $3.51M
NOI $210,486 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.77M
$7.67M – $10.23M
NOI $613,661 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
482
Businesses Nearby
174k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 46%
Shops & Services 26%
Dining 19%
Apparel 8%
Publix
Groceries
48,928 visits/mo
0.2 miles
Presidente Supermarkets
Groceries
29,604 visits/mo
0.2 miles
Starbucks
Dining
19,339 visits/mo
0.2 miles
Mobil
Shops & Services
16,974 visits/mo
0.1 miles
Chase Bank
Shops & Services
12,109 visits/mo
0.1 miles
Demographics for 33462, FL
33,982
Population
15,911
Households
2.1
Avg Household Size
43
Median Age
28%
College-Educated
84%
High-School Grad
8.6 sq mi
ZIP Area
3,951
Density / Sq Mi
$72,288
Median Household Income
$38,193
Median Earnings
$1,659
Median Rent
$323,600
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
Similar Off Market Nearby
- The Christopher Cope Collection — 3448 Artesian Dr, Lake Worth, FL 33462
- AnG Flowers And Gifts — 6858 Plymouth Dr S, Lake Worth Beach, FL 33462
Frequently Asked Questions
What type of property is this?
Storefront property - A 12,448-square-foot storefront remains subject to an active tenant lease despite the tenant's cessation of operations.
Where is this storefront property located?
The property is located at 6950 S Congress Ave Lake Worth, FL.
What is the asking price?
The asking price for this property is $5,601,600.
What are key features of this property?
This property features: 12,448‑square‑foot storefront property; Existing tenant remains obligated under its lease after ceasing operations
