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    409 Lake Ave Lake Worth, FL 33460

    Sponsored
    For Sale
    $3,995,000

    Prime Lake Worth retail center, high occupancy.

    Property size:
    9,778 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 9,778 square foot, Class B shopping center located at 409 Lake Avenue in Lake Worth, Florida, 33460. The property, built in 1957, consists of a single-story building on a 0.434-acre lot (approximately 140' x 135'). Currently operating at 100% occupancy with four units under a NNN lease structure, the center offers a stable income stream with a remaining lease term of two years. The property's strategic location directly across from the town green and City Hall in highly desirable Lake Worth Beach provides excellent visibility and accessibility. Its proximity to the Intracoastal Waterway and I-95 further enhances its appeal. The asking price is $3,995,000, representing a 2.00% cap rate. This value-add investment presents a compelling opportunity for continued income generation from existing tenants or significant redevelopment potential for a mixed-use, multi-story residential building. The property's APN is 38434421150250060. This is a multi-tenant retail property classified as a shopping center and storefront.

    Property Features for 409 Lake Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    9,778 SF
    Class
    B
    Lot Size
    18,905 SF

    Building Details

    Year Built
    1957
    Buildings
    1
    Stories
    1
    Units
    4

    HighLights

    • 9,778 SF Class B shopping center in Lake Worth Beach, FL.
    • Located at 409 Lake Avenue, on a 0.434‑acre lot.
    • 100% occupied with four NNN‑leased units, offering a stable income stream.
    • Two‑year remaining lease term.
    • Asking price: $3,995,000, 2.00% cap rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Acorn Safe & Lock Locksmith

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Worth
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.053050073716
    Latitude
    26.615805555129

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    FAQs

    What type of property is this?
    Lifestyle center - Prime Lake Worth retail center, high occupancy.
    Where is this lifestyle center located?
    The property is located at 409 Lake Ave Lake Worth, FL.
    What is the asking price?
    The asking price for this property is $3,995,000.
    What are key features of this property?
    This property features: 9,778 SF Class B shopping center in Lake Worth Beach, FL.; Located at 409 Lake Avenue, on a 0.434-acre lot.; 100% occupied with four NNN-leased units, offering a stable income stream.
    Request Owner's contact information
    409 Lake Ave Lake Worth, FL 33460
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    409 Lake Ave Lake Worth, FL 33460
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