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    1422 Lucerne Ave Lake Worth Beach, FL 33460

    Sponsored
    For Sale
    $1,600,000

    Prime Location, High Potential, $1.6M

    Property size:
    2,458 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property in Lake Worth Beach, Florida, presents a compelling investment opportunity. Located at 1422 Lucerne Avenue, this 0.31-acre corner lot boasts MU-E zoning, allowing for diverse commercial and residential applications. The property currently features two buildings: an 800 sq ft free-standing commercial building and a 1700 sq ft single-family home, both constructed of concrete block. Both buildings are currently leased, generating a combined monthly income of $5700. The property's 2,458 total square feet offers significant potential for redevelopment. The maximum base density allows for eight residential units, while leveraging city programs could increase density to accommodate up to 22 units. This vibrant district is experiencing growth, with a thriving arts scene and numerous mixed-use developments underway. Potential uses include, but are not limited to, residential, office, retail, showroom, bakery, art studios, restaurant, and personal services. The asking price is $1,600,000. The property is situated in Palm Beach County, Florida, zip code 33460. Built in 1950, this property offers a unique blend of existing income and substantial future development potential. This is an ideal opportunity for investors seeking a high-return property in a rapidly developing area.

    Property Features for 1422 Lucerne Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    2,458 SF

    Building Details

    Year Built
    1950
    Units
    2
    Property Profile Location Intelligence

    Current Use by Public Records

    Premium Painters - West ... Painter

    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 Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0631309
    Latitude
    26.6169648

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Location, High Potential, $1.6M
    Where is this mixed-use property located?
    The property is located at 1422 Lucerne Ave Lake Worth Beach, FL.
    What is the asking price?
    The asking price for this property is $1,600,000.
    Request Owner's contact information
    1422 Lucerne Ave Lake Worth Beach, FL 33460
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    Lake Worth Beach, 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
    1422 Lucerne Ave Lake Worth Beach, FL 33460
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