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Property profile & analytics
OFF-MARKET
Estimated value
$1,550,000
Commercial land
1306 Lucerne Ave Lake Worth, FL 33460-3615
Individually Owned
1-yr Hold
Free & Clear
Property ID
US18-3776274
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1923
Construction
WOOD FRAME
Total area
2,908 SF
Lot
0.23 ac (10,132 SF)
Zoning code
MU-E
APN
38-43-44-21-15-008-0230
UPID
US18-3776274
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.55M
Owner & transaction history
Lake Worth Beach Cmnty Redevelopmen · 1 yrs held
Lake Worth Beach Cmnty Redevelopmen
since 2025
Last sale
$1.7M
2 recorded transactions
Zoning & alternative use
MU-E · Lake Worth, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+56.9%
Medical building
$1.1M
+50.2%
Neighborhood: shopping center
$1.1M
+38.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lake Worth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Worth submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,400,000
ML approach
$1,440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,195,000
Change: +57% · Conversion: Difficult
MEDICAL BUILDING
$1,145,000
Change: +50% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,060,000
Change: +39% · Conversion: Difficult
OFFICE BUILDING
$940,000
Change: +23% · Conversion: Easy
Blend value · Realmo final
$1.55M
Range $1.40M – $1.71M · ±10% · vs last sale $1.68M (Jan 16 2025)
Last sale anchor
$1.68M
Jan 16 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$533 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$2,380
Tax year 2023
Assessed value
$104,248
Assessed 2023
Previous assessed
$99,284
+5.0% YoY
Effective rate
2.28%
On assessed value
Assessed land
$104,248
Land market value
$104,248
Total market value
$104,248
Applied tax rate
38,453.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1923
Construction
WOOD FRAME
Heating
NONE
Stories
1
Total area
2,908 SF
Lot
0.23 ac (10,132 SF)
Zoning code
MU-E
APN
38-43-44-21-15-008-0230
UPID
US18-3776274
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
MU-E · Lake Worth, FL
Zoning MU-E · permitted uses
MU-E · Lake Worth, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Worth. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
OFFICE BUILDING
Est. value
$940,000
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1923
Construction
WOOD FRAME
Heating
NONE
Stories
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
Lake Worth Beach Cmnty Redevelopmen
Individual
Free & Clear · 1 yrs held
Mailing address
511 LUCERNE AVE APT #501, LAKE WORTH, FL 33460-3860
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2025
$1,675,000
Lake Worth Beach Cmnty Redevelopmen
Gregory Rice
Warranty Deed
—
Oct 4, 2023
—
Gregory Rice
Gregory Rice
Deed Of Distribution
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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