Multi-Tenant Strip Center
For Sale
Contact for pricing
850 Park Avenue, Lake Park, FL 33403
Fully occupied, multi-tenant retail strip center with eight suites across two adjacent buildings.
Property Size7,200 SF
Lot Size0.50 Acres
Price / SF$187.50
Days on Market52
Property Features for 850 Park Avenue
General Information
Standard status
Active
Size
7,200 SF
Lot size
0.50 Acres
Property subtype
Retail
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Year Built
1962
Tenancy
Multi
Listing Agency:
Vero Capital Group
Listed By:
Charles Moody · License #BK3404499
Source:
Crexi
Added: Jun 16
Changed: Jul 10
Last Checked: Aug 5 at 8:13AM
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 Vero Capital Group
Investment Insights
Based on property information with market context.
Park Ave Shoppes is a fully occupied, multi-tenant retail strip center comprising two adjacent buildings totaling 7,200 SF on a 0.50-acre site. The property includes eight retail suites distributed across the two structures. According to the offering remarks, the center is being marketed for the first time in more than 60 years.
The property is located in the Park Avenue Downtown District at 836–850 Park Avenue in Lake Park, FL. The remarks describe the site as being positioned along a downtown corridor and surrounded by nearby development activity, including Nautilus 220, the approved Nautilus 211 waterfront project, and the approved 595-unit Residences at 10th & Park. The offering also references access to U.S. 1 and I-95, and a planned Tri-Rail Coastal Link station near Park Avenue.
For investors or owner-operators seeking a retail asset with defined unit count and immediate occupancy, Park Ave Shoppes offers a straightforward multi-suite configuration. The remarks indicate that the majority of the eight suites are expected to roll within 12 months of acquisition, which may support leasing plan adjustments at renewal. The center’s mix of tenants and suite-level structure is designed to support continued retail operations within the downtown district setting described in the offering materials.
The property is located in the Park Avenue Downtown District at 836–850 Park Avenue in Lake Park, FL. The remarks describe the site as being positioned along a downtown corridor and surrounded by nearby development activity, including Nautilus 220, the approved Nautilus 211 waterfront project, and the approved 595-unit Residences at 10th & Park. The offering also references access to U.S. 1 and I-95, and a planned Tri-Rail Coastal Link station near Park Avenue.
For investors or owner-operators seeking a retail asset with defined unit count and immediate occupancy, Park Ave Shoppes offers a straightforward multi-suite configuration. The remarks indicate that the majority of the eight suites are expected to roll within 12 months of acquisition, which may support leasing plan adjustments at renewal. The center’s mix of tenants and suite-level structure is designed to support continued retail operations within the downtown district setting described in the offering materials.
Key Highlights
- Fully occupied 7,200 SF multi‑tenant retail strip center with eight suites across two adjacent buildings
- Two‑building strip center on 0.50 acres in the Park Avenue Downtown District
- Built in 1962
Financial Insights For Retail
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 | $190.1k | $26.40 |
| − Vacancy | −$16.2k | −$2.24 |
| EGI | $173.9k | $24.16 |
| − OpEx | −$52.2k | −$7.25 |
| NOI | $121.7k | $16.91 |
7,200 SF · lease $26.40/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.74M
$1.52M – $2.03M
NOI $121,746 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.07M
$4.44M – $5.92M
NOI $354,945 @ 7.0% cap · market cap 26.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,465
Businesses Nearby
Explore this area
Business Placement
Demographics for 33403, FL
13,779
Population
5,906
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
3.3 sq mi
ZIP Area
4,175
Density / Sq Mi
$69,050
Median Household Income
$34,019
Median Earnings
$1,426
Median Rent
$340,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Fully occupied, multi-tenant retail strip center with eight suites across two adjacent buildings.
Where is this strip mall located?
The property is located at 850 Park Avenue Lake Park, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Fully occupied 7,200 SF multi‑tenant retail strip center with eight suites across two adjacent buildings; Two‑building strip center on 0.50 acres in the Park Avenue Downtown District; Built in 1962
