Freestanding Warehouse With
New
For Sale
Contact for pricing
747 Barnett Drive, Lake Worth, FL 33460
Industrial Park of Commerce zoning supports warehouse, distribution, and other industrial operations.
Property Size7,300 SF
Price / SF$271.92
Days on Market7
Property Features for 747 Barnett Drive
General Information
Standard status
Active
Size
7,300 SF
Class
B
Property subtype
Industrial
Zoning
Industrial Park of Commerce
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1963
Buildings
2
Stories
1
Units
2
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 4:34AM
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 freestanding warehouse property combines a ±5,000 SF CBS warehouse/showroom with a separate ±2,300 SF metal storage building. The improvements include concrete floors, 14’ ceilings, three large overhead doors, and dock-high loading along the south side. A fenced yard and on-site parking support storage and daily industrial operations, while the additional building expands the property’s functional capacity.
The site consists of three combined lots totaling approximately 21,780 SF (0.50 acre) at 747 Barnett Drive in Lake Worth Beach, Florida. Access to I-95 is approximately 2 minutes via 10th Avenue North. I-POC (Industrial Park of Commerce) zoning supports a range of industrial and warehouse distribution uses. The property was built in 1963 and includes space for 18+ vehicles plus storage.
The site consists of three combined lots totaling approximately 21,780 SF (0.50 acre) at 747 Barnett Drive in Lake Worth Beach, Florida. Access to I-95 is approximately 2 minutes via 10th Avenue North. I-POC (Industrial Park of Commerce) zoning supports a range of industrial and warehouse distribution uses. The property was built in 1963 and includes space for 18+ vehicles plus storage.
Key Highlights
- ±5,000 SF CBS warehouse/showroom plus ±2,300 SF metal storage building
- Three combined lots totaling approximately 21,780 SF (0.50 acre)
- Three large overhead doors and dock‑high loading on the south side
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
$160,571
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
8.09%
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%
$3,211,420
$3.2M
Cap Rate 7%
$2,293,871
$2.3M
Cap Rate 9%
$1,784,122
$1.8M
Market Conditions
NOI Build-Up for 7,300 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
$262.8K $36.00/SF
− Vacancy
−$15.8K −$2.16/SF
EGI
$247.0K $33.84/SF
− OpEx
−$86.5K −$11.84/SF
NOI
$160.6K $22.00/SF
Area
Palm Beach County, FL
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
35.00%
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%
$3,211,420
Cap Rate 7%
$2,293,871
Cap Rate 9%
$1,784,122
Alternative Uses
Best Use
Flex RnD
$2.29M
$2.01M – $2.68M
NOI $160,571 @ 7.0% cap · market cap 8.09%
Second Best
Warehouse
$1.37M
$1.20M – $1.59M
NOI $95,696 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$5.14M
$4.50M – $6.00M
NOI $359,875 @ 7.0% cap · market cap 18.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,083
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial Park of Commerce zoning supports warehouse, distribution, and other industrial operations.
Where is this warehouse located?
The property is located at 747 Barnett Drive Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,985,000.
What are key features of this property?
This property features: ±5,000 SF CBS warehouse/showroom plus ±2,300 SF metal storage building; Three combined lots totaling approximately 21,780 SF (0.50 acre); Three large overhead doors and dock‑high loading on the south side
