Downtown Lake Worth Retail
Lake Ave & Lucerne Ave, Lake Worth, FL 33460
Five multi-tenant retail properties in vibrant Downtown Lake Worth Beach.
Type:High Street Retail
Property size:
24,795 SFPrice / SF:
$403/SF- Added:
- Nov 26, 2025
- Days on Market:
- 185
- Last Refresh:
- May 9 at 1:46 am
Property Features for Lake Ave & Lucerne Ave
General Information
- Standard status
- Active
- Size
- 24,795 SF
- Property subtype
- High Street Retail
Listing agent C. Todd Everett, SIOR (561) 414-8567
Listing office Lee & Associates | Broward/Palm Beach (561) 414-8567
Listing date Nov 26, 2025
Source Lee-associates
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
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.
- Includes 7,000 square feet of unoccupied space, presenting immediate upside potential for new tenants and increased revenue.
- Benefits from ample street parking and adjacency to a free public parking lot, providing added convenience for customers.
- Located amidst a vibrant cultural scene and hosts popular annual events drawing consistent crowds.
Overview
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.
Local 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 local authorities.
Location Intelligence
Current Use by Public Records
Retail space
Map
- City
- Lake Worth
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0589
- Latitude
- 26.6209
Nearby Similar for Sale
FAQs
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.
