Downtown Lake Worth Retail
For Sale
$10,000,000
Lake Ave & Lucerne Ave, Lake Worth, FL 33460
Five multi-tenant retail properties in vibrant Downtown Lake Worth Beach.
Property Size24,795 SF
Price / SF$403.31
Days on Market248
Property Features for Lake Ave & Lucerne Ave
General Information
Standard status
Active
Size
24,795 SF
Property subtype
High Street Retail
Listing Agency:
Lee & Associates | Broward/Palm Beach
(561) 414-8567
Listed By:
C. Todd Everett, SIOR
(561) 414-8567
Source:
Lee-associates
Added: Nov 26, 2025
Changed: Jul 10
Last Checked: Aug 1 at 4:35AM
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 Lee & Associates | Broward/Palm Beach
Investment Insights
Based on property information with market context.
This portfolio comprises five high-street retail properties situated in the heart of Downtown Lake Worth Beach. Located on Lake Avenue and Lucerne Avenue, the properties total approximately 24,545 square feet of multi-tenant retail, office, and multifamily space. The portfolio includes 716 and 720 Lake Ave, a combined approximately 9,745 square foot multi-tenant property featuring two restaurants; 705 Lake Ave, a fully leased approximately 2,500 square foot retail storefront; 800 Lake Ave, an approximately 9,750 square foot multi-tenant property with second-floor multifamily units and tenants such as the Rhum Shak and The Sunflower Room; and 805 Lucerne Ave, an approximately 2,550 square foot retail/office property. There is approximately 7,000 square feet of unoccupied space. The properties benefit from visibility and foot traffic within a pedestrian-friendly setting. Ample street parking and adjacency to public parking lots provide customer convenience. The area hosts annual events, including the Street Painting Festival and Reggae Fest, as well as monthly Farmers Markets, art walks, and street festivals. The location is surrounded by cultural diversity, historic charm, and a thriving artistic scene with galleries, theaters, and live music venues. The area offers dining options, nightlife, and community events, all within walking distance of beaches and parks.
Key Highlights
- Rare opportunity to acquire a generational portfolio of five high‑street retail properties in the heart of vibrant Downtown Lake Worth Beach, available for the first time in over 30 years.
- Portfolio spans approximately 24,545 square feet of prime multi‑tenant retail, office, and multifamily space across five buildings, offering diversified income through nine separate leasable units.
- Strategically located on Lake Avenue and Lucerne Avenue, benefiting from exceptional pedestrian traffic and unparalleled visibility in a sought‑after beach town market.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.13M | $45.60 |
| − Vacancy | −$254.4k | −$10.26 |
| EGI | $876.3k | $35.34 |
| − OpEx | −$219.1k | −$8.84 |
| NOI | $657.2k | $26.51 |
24,795 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$9.39M
$8.21M – $10.95M
NOI $657,191 @ 7.0% cap · market cap 6.57%
Second Best
Retail
$5.99M
$5.24M – $6.99M
NOI $419,264 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$17.46M
$15.28M – $20.37M
NOI $1,222,342 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,955
Businesses Nearby
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Five multi-tenant retail properties in vibrant Downtown Lake Worth Beach.
Where is this retail space located?
The property is located at Lake Ave & Lucerne Ave Lake Worth, FL.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: Rare opportunity to acquire a generational portfolio of five high‑street retail properties in the heart of vibrant Downtown Lake Worth Beach, available for the first time in over 30 years.; Portfolio spans approximately 24,545 square feet of prime multi‑tenant retail, office, and multifamily space across five buildings, offering diversified income through nine separate leasable units.; Strategically located on Lake Avenue and Lucerne Avenue, benefiting from exceptional pedestrian traffic and unparalleled visibility in a sought‑after beach town market.
