Retail/Warehouse Flex
For Sale
$1,500,000
922/928 S Dixie Hwy 922 & 928 & Back & Up, Lake Worth, FL 33460
Retail/warehouse building with four bays, four entrances, and four meters, plus bathroom plumbing for additional baths.
Property Size5,259 SF
Days on Market169
Property Features for 922/928 S Dixie Hwy 922 & 928 & Back & Up
General Information
Standard status
Active
Size
5,259 SF
Total Parking Spaces
2
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$15,475
Building Details
Building Size
5,259 SF
Year Built
1947
Stories
2
Units
7
Listing Agency:
Coastline Realty, Inc
Listed By:
Jon E Faust · License #590401
(561) 722-9643
Source:
Elliman
Added: Mar 19
Changed: Aug 25
Last Checked: Sep 1 at 9:21PM
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 Coastline Realty, Inc
Investment Insights
Based on property information with market context.
922 S Dixie consists of a retail/warehouse space originally made of 4 bays. The building still has 4 entrances and 4 meters, along with a bathroom plus plumbing for possible additional baths.
The parcel also includes 921 S J St, a 4-bedroom, 2-bath home with a laundry room, updated kitchen, garage, and 2 off-street parking spaces, as well as 928 S Dixie Hwy, which is another retail/warehouse plus office and bath with a garage.
The combined properties are described as being close to downtown and I-95, with noted traffic along Dixie Hwy.
The parcel also includes 921 S J St, a 4-bedroom, 2-bath home with a laundry room, updated kitchen, garage, and 2 off-street parking spaces, as well as 928 S Dixie Hwy, which is another retail/warehouse plus office and bath with a garage.
The combined properties are described as being close to downtown and I-95, with noted traffic along Dixie Hwy.
Key Highlights
- 922 S Dixie: retail/warehouse originally made of 4 bays with 4 entrances and 4 meters
- 922 S Dixie includes a bathroom plus plumbing for possible additional baths
- Also includes 921 S J St: 4‑bedroom, 2‑bath home with laundry room, updated kitchen, garage, and 2 off‑street parking spaces
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
$115,677
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
7.71%
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%
$2,313,540
$2.3M
Cap Rate 7%
$1,652,529
$1.7M
Cap Rate 9%
$1,285,300
$1.3M
Market Conditions
NOI Build-Up for 5,259 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
$189.3K $36.00/SF
− Vacancy
−$11.4K −$2.16/SF
EGI
$178.0K $33.84/SF
− OpEx
−$62.3K −$11.84/SF
NOI
$115.7K $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%
$2,313,540
Cap Rate 7%
$1,652,529
Cap Rate 9%
$1,285,300
Alternative Uses
Best Use
Flex RnD
$1.65M
$1.45M – $1.93M
NOI $115,677 @ 7.0% cap · market cap 7.71%
Second Best
Warehouse
$984.9K
$861.8K – $1.15M
NOI $68,940 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$3.70M
$3.24M – $4.32M
NOI $259,258 @ 7.0% cap · market cap 17.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
901
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Retail/warehouse building with four bays, four entrances, and four meters, plus bathroom plumbing for additional baths.
Where is this flex space located?
The property is located at 922/928 S Dixie Hwy 922 & 928 & Back & Up Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 922 S Dixie: retail/warehouse originally made of 4 bays with 4 entrances and 4 meters; 922 S Dixie includes a bathroom plus plumbing for possible additional baths; Also includes 921 S J St: 4‑bedroom, 2‑bath home with laundry room, updated kitchen, garage, and 2 off‑street parking spaces
