129 Federal Hwy Lake Worth Beach, FL 33460
- Retail space
- 6,255 SF
- 0.29 lot acres
Current Use by Public Records
- Assurance Insurance Connection Inc / Auto Insurance Agency
- Mascara Law Firm, P.A. / Personal Injury Attorney / Criminal Justice Attorney
- Sea Squared Interprises / Employment Center
- Choice Counseling Center Inc / Addiction Treatment Center
- Relax With Kam / Beauty Salon
Property Details for 129 Federal Hwy
- Year built
- 1928
- Construction
- WOOD
- Lot size
- 0.29 lot acres
- Property size
- 6,255 SF
- Zone code
- DT
- Property type
- Retail space
- APN
- 38-43-44-21-15-026-0090
- APU
- 38434421150260090
Description
This exceptional value-add investment opportunity presents a three-building, 8,667 square foot mixed-use property in the heart of historic downtown Lake Worth Beach, Florida. The property, built in 1928 with masonry construction, boasts a prime location at a signalized intersection with 220 feet of combined frontage on North Federal Highway and 2nd Avenue North. The two-story building features seven tenants, currently operating at 53.69% occupancy, offering significant upside potential through lease adjustments. The ground floor includes a vacant bar space, potentially the oldest in Palm Beach County, and other retail suites totaling 5,679 square feet. The second floor comprises 2,988 square feet of office space. Recent improvements include re-roofing of two of the three buildings in October 2024. The property sits on a 0.29-acre lot and includes 14 parking spaces. Its convenient location offers high walkability, proximity to I-95 and beaches, and easy access to downtown Lake Worth amenities. The property is zoned DT and is offered fee simple. This is a rare chance to acquire a well-positioned, historic property in a thriving Florida market with strong potential for increased rental income. The property's high visibility and location within a vibrant arts and entertainment district make it an attractive investment for both owner-users and investors seeking a value-add opportunity. The existing tenant mix includes a pizzeria and nightclub, among others. The property's strong location near I-95, A1A, and the beaches, along with its proximity to the Lake Worth Tri-Rail station, ensures excellent accessibility and connectivity.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lake Worth
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0526
- Latitude
- 26.6175
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
