700 Park Ave Lake Park, FL 33403
- Strip malls
- 23,760 SF
- 1.22 lot acres
Current Use by Public Records
- Strip malls
Property Details for 700 Park Ave
- Year built
- 1962
- Construction
- CONCRETE
- Lot size
- 1.22 lot acres
- Property size
- 23,760 SF
- Zone code
- PADD
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 36-43-42-20-01-010-0010
- APU
- 36434220010100010
Description
This exceptional retail opportunity in Lake Park, Florida, presents multiple spaces within a vibrant plaza at 700 Park Ave. The property, built in 1962, encompasses 23,760 square feet on 1.22 acres and features two stories. Available spaces range from 325 to 9,000 square feet, catering to diverse business needs. The plaza benefits from high visibility and significant foot traffic, enhanced by its location amidst established businesses and ample parking. The area boasts a strong demographic profile, with an average household income exceeding $105,000 within a three-mile radius and over 85,000 residents within the same area. Daily traffic surpasses 6,000 vehicles. Nearby developments, including a new luxury condo complex and a new apartment complex, further enhance the property's appeal and potential for growth. A proposed large residential project will add to the already substantial residential population surrounding the plaza. The property's Palm Beach County location (APN: 36-43-42-20-01-010-0010, Zip Code: 33403) offers easy access and strong market presence. This is an ideal location for businesses seeking high visibility and a thriving customer base.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $4,490,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,635,000
- 6.5%
- $3,435,000
- 7%
- $3,485,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,695,000
- Geo Method
- $3,715,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,940,000
- Retail
- $3,470,000
- Mixed-Use
- $3,690,000
- Hospitality
- $3,160,000
- Educational
- $3,140,000
- Residential Income
- $4,180,000
- Energy
- $3,570,000
- Income-Based Land
- $3,825,000
- Food Service
- $3,660,000
Location Insight
- Map
- Local Demand
- City
- Lake Park
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0672
- Latitude
- 26.7984
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
