Mixed-Use Bar and Apartment
For Sale
$795,000
Pending
945 Miner Road, Lake Worth, FL 33462
Fully operational bar is paired with two attached residential apartments on one parcel in an unincorporated area.
Property Size2,820 SF
Lot Size0.25 Acres
Days on Market63
Property Features for 945 Miner Road
General Information
Standard status
Pending
Size
2,820 SF
Lot size
0.25 Acres
Zoning
CN
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,491
Building Details
Building Size
2,820 SF
Year Built
1948
Stories
1
Listing Agency:
LPT Realty, LLC
Listed By:
Carl Columbia
(561) 302-9221
Source:
Laerrealty
Added: Jul 7
Changed: Aug 8
Last Checked: Jul 23 at 3:25AM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines a fully operational bar with two attached residential apartments, creating a live-work and income-producing configuration. The bar and the attached apartments are situated on a single 1/4-acre parcel, offering one ownership model for hospitality and residential use in the same footprint.
The property is located at 945 Miner Road in Lake Worth, Florida, in an unincorporated area. As presented, it also offers flexibility for investors and owner-operators considering rental income, live-work use, or future redevelopment planning. The combination of an operating commercial component with on-site residential units may appeal to buyers seeking a consolidated mixed-use setup rather than separating hospitality and housing into different properties.
The property is located at 945 Miner Road in Lake Worth, Florida, in an unincorporated area. As presented, it also offers flexibility for investors and owner-operators considering rental income, live-work use, or future redevelopment planning. The combination of an operating commercial component with on-site residential units may appeal to buyers seeking a consolidated mixed-use setup rather than separating hospitality and housing into different properties.
Key Highlights
- Fully operational bar on one 1/4‑acre parcel
- Two attached residential apartments on the same parcel
- Mixed‑use live/work setup combining bar and attached apartments
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
$54,288
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
6.83%
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%
$1,085,760
$1.1M
Cap Rate 7%
$775,543
$775.5K
Cap Rate 9%
$603,200
$603.2K
Market Conditions
NOI Build-Up for 2,820 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
$77.8K $27.60/SF
− Vacancy
−$5.4K −$1.93/SF
EGI
$72.4K $25.67/SF
− OpEx
−$18.1K −$6.42/SF
NOI
$54.3K $19.25/SF
Area
Palm Beach County, FL
Vacancy
7.00%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,085,760
Cap Rate 7%
$775,543
Cap Rate 9%
$603,200
Alternative Uses
Best Use
Specialty Retail
$775.5K
$678.6K – $904.8K
NOI $54,288 @ 7.0% cap · market cap 6.83%
Second Best
Multifamily LT 5
$671.6K
$587.6K – $783.5K
NOI $47,009 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,020 @ 7.0% cap · market cap 17.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33462, FL
33,982
Population
15,911
Households
2.1
Avg Household Size
43
Median Age
28%
College-Educated
84%
High-School Grad
8.6 sq mi
ZIP Area
3,951
Density / Sq Mi
$72,288
Median Household Income
$38,193
Median Earnings
$1,659
Median Rent
$323,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Similar Off Market Nearby
- bostons delray beach — 2 Crossings Cir, Boynton Beach, FL 33435
- NOBO Brewing Company — 2901 NW Commerce Park Dr, Boynton Beach, FL 33426
- Tropical Inn Pub — 945 Miner Rd, Lantana, FL 33462
Frequently Asked Questions
What type of property is this?
Bar & Pub - Fully operational bar is paired with two attached residential apartments on one parcel in an unincorporated area.
Where is this bar & pub located?
The property is located at 945 Miner Road Lake Worth, FL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Fully operational bar on one 1/4‑acre parcel; Two attached residential apartments on the same parcel; Mixed‑use live/work setup combining bar and attached apartments
