Building Details

Buildings 3

Listing Agency: Rebel Cook Real Estate r***@rebelcook.com Show Phone

Listed By: Robert N. Hunter Jr. Show Phone

Source: Exprealty

Added: Sep 23, 2025 Changed: Oct 11 Last Checked: Oct 12 at 9:16PM

Report an Issue

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 Rebel Cook Real Estate

Investment Insights

Based on property information with market context.

This flex property occupies a 0.61-acre site with three buildings totaling 8,575 square feet. The primary structure measures approximately 4,300 square feet, while the two additional buildings measure approximately 2,400 and 1,875 square feet. Those smaller buildings are arranged around an outdoor courtyard and contain seven studio units, allowing the property to accommodate single-tenant or multi-tenant use.

The site fronts Old Dixie Highway in Lake Park, south of Northlake Boulevard. The existing layout can support storage, auto sales, or repair uses, with the buildings and courtyard providing a defined framework for continued occupancy or reconfiguration.

Key Highlights

• Three buildings totaling 8,575 square feet on 0.61 acres
• Largest building measures approximately 4,300 square feet
• Two additional buildings measure approximately 2,400 and 1,875 square feet

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$188,616

Cap Rate

8.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,772,320 $3.8M

Cap Rate 7%

$2,694,514 $2.7M

Cap Rate 9%

$2,095,733 $2.1M

Market Conditions

NOI Build-Up for 8,575 SF

Gross rent

$308.7K $36.00/SF

− Vacancy

−$18.5K −$2.16/SF

EGI

$290.2K $33.84/SF

− OpEx

−$101.6K −$11.84/SF

NOI

$188.6K $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 Rate 5%

$3,772,320

Cap Rate 7%

$2,694,514

Cap Rate 9%

$2,095,733

Alternative Uses

Best Use

Office B

$3.25M

$2.84M – $3.79M (±1% cap)

NOI $227,280 @ 7.0% cap · market cap 10.35%

Second Best

Flex RnD

$2.69M

$2.36M – $3.14M (±1% cap)

NOI $188,616 @ 7.0% cap · market cap 8.59%

Theoretical Best

Office A

$6.04M

$5.28M – $7.05M (±1% cap)

NOI $422,730 @ 7.0% cap · market cap 19.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Pharmacy Restaurant Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

798

Businesses Nearby

Balanced

Demand for This Use

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 Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Warehouse Condominium with Office

1209 Gateway Road Ste 209, Lake Park, FL 33403

$450,000

1,500 SF

View details

Flex Space with Loft

1334 S Killian Dr 1, Lake Park, FL 33403

$580,000

View details

Air-Conditioned Flex Space

1-1334 S Killian Dr, Lake Park, FL 33403

$580,000

View details

Flex Space with Roll-Up Doors

230 N Congress Avenue Unit Multiple Units, Lake Park, FL 33403

Contact for pricing

View details

Downtown Retail Storefront Property

810 Park Avenue, Lake Park, FL 33403

$2,400,000

8,931 SF

View details

Corner Retail Building

359 10th Street, Lake Park, FL 33403

$1,400,000

6,624 SF

View details

Five-Unit Residential Income Property

305 Cypress Drive E 1,2,3,4,5, Lake Park, FL 33403

$1,280,000

2,903 SF

View details

5-Unit Apartment Building

305 CYPRESS Drive, Lake Park, FL 33403

$1,280,000

2,504 SF

View details

Freestanding Office Building

701 Park Avenue, Lake Park, FL 33403

$495,000

2,070 SF

View details

Freestanding Restaurant Building

1460 10th Street, Lake Park, FL

$75,000

1,250 SF

View details

Freestanding Commercial Building with Parking

610 Northlake Boulevard, Lake Park, FL 33408

Contact for pricing

1,040 SF

View details

Triple Net USPS Retail Suite

904 Park Ave, Lake Park, FL 33403

$1,100,000

View details

Similar Off Market Nearby

• The PotBelly Kitchen — 511 W 29th St, Riviera Beach, FL 33404
• Pure Gold Kombucha — 109 Reed Rd, West Palm Beach, FL 33403
• Simply Delicious Affairs — 1194 Old Dixie Hwy, Lake Park, FL 33403
• Luminous Meals — NA, 1301 10th St, Lake Park, FL 33403

Frequently Asked Questions

What type of property is this?

Flex space - Multiple structures with studio units and an outdoor courtyard support flexible occupancy configurations.

Where is this flex space located?

The property is located at A10-1169 Old Dixie Hwy Lake Park, FL.

What is the asking price?

The asking price for this property is $2,195,000.

What are key features of this property?

This property features: Three buildings totaling 8,575 square feet on 0.61 acres; Largest building measures approximately 4,300 square feet; Two additional buildings measure approximately 2,400 and 1,875 square feet