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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1502 Dixie Hwy Lake Worth, FL 33460-1847

    • Automotive properties
    • 1,412 SF
    • 0.22 lot acres
    OFF-MARKET
    Last Sale
    Aug 25, 2023
    Value Estimations
    $210,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4877815
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Joseph's Car Wash LLC / Self Service Car Wash / Car Wash

    Property Details for 1502 Dixie Hwy

    Year built
    1956
    Construction
    WOOD
    Lot size
    0.22 lot acres
    Property size
    1,412 SF
    Zone code
    MU-DIXIE
    Property type
    Automotive properties
    APN
    38-43-44-15-16-046-0010
    APU
    38434415160460010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $200,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $221,000
      Market price range: $131k - $328k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lake Worth
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0565
    Latitude
    26.6338
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,683
    $143,031
    $81,580
    $224,611
    -
    $143,031
    $81,580
    $224,611

    Comparable in this City

    • Value Estimation
      $260,000
      0.05 Acres

      14th N Ave

      VEHICLE SALES, RENTALS • 0.05 Acres
      14th N Ave, Lake Worth Beach, FL 33460
      View Details
    • Value Estimation
      $240,000
      364 SF

      1902 Dixie Hwy

      VEHICLE SALES, RENTALS • 364 SF
      1902 Dixie Hwy, Lake Worth, FL 33460-6263
      View Details
    • Value Estimation
      $335,000
      221 SF

      1320 Dixie Hwy

      VEHICLE SALES, RENTALS • 221 SF
      1320 Dixie Hwy, Lake Worth, FL 33460-1827
      View Details
    • Value Estimation
      $205,000
      140 SF

      1002 Dixie Hwy

      VEHICLE SALES, RENTALS • 140 SF
      1002 Dixie Hwy, Lake Worth, FL 33460-5116
      View Details
    • Value Estimation
      $360,000
      1,836 SF

      331 Dixie Hwy

      AUTO REPAIR, GARAGE • 1,836 SF
      331 Dixie Hwy, Lake Worth, FL 33460-4440
      View Details
    • Value Estimation
      $260,000
      1,500 SF

      501 Dixie Hwy

      AUTO REPAIR, GARAGE • 1,500 SF
      501 Dixie Hwy, Lake Worth, FL 33460-3039
      View Details

    Similar Nearby for Sale

    • New
      $1,050,000
      1,710 SF

      Lake Worth Beach Auto Repair Shop

      1710 SF auto repair shop in prime location for sale.
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    • $1,500,000
      2,745 SF

      Lake Worth Beach Retail Investment

      Multi-tenant retail property in vibrant Downtown Lake Worth Beach.
      720 Lk Ave Ave, Lake Worth, FL 33460
      View Details
    • $149,000
      2,000 SF

      Established Salon in Lake Worth

      Well-established salon with loyal clientele and exceptional service reputation.
      Lake Worth, FL 33460
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    • $200,000

      Established Live Music Bar Opportunity

      Profitable Lake Worth bar with loyal following and excellent lease.
      Xxx Downtown Lk Worth Bch, Lake Worth, FL 33460
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    • $3,995,000
      9,778 SF

      Lake Worth Shopping Center Investment

      Prime Lake Worth retail center, high occupancy.
      409 Lake Ave, Lake Worth, FL 33460
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    • $3,200,000
      7,064 SF

      Lake Worth Retail Opportunity

      Retail property for sale in Lake Worth, Florida.
      604 Lake Ave, Lake Worth, FL 33460
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr
      4,560 SF

      Deco Green: Lake Worth Beach Retail

      Prime Retail/Restaurant Space, Lake Worth Beach
      1715 Dixie Hwy, Lake Worth Beach, FL 33460
      View Details
    • $23 SF/Yr
      3,400 SF

      Lake Worth Retail Space for Lease

      Prime Dixie Hwy Retail, 3400 SF
      924 Dixie Hwy, Lake Worth, FL 33460
      View Details
    • $2,475 /Mo

      Versatile Flex Space For Lease

      940 SF flex space with overhead door and AC.
      1118-A N G St, Lake Worth, FL 33460
      View Details
    • $2,400 /Mo

      Corner Retail/Office Space Available

      840 SF corner space with high visibility near I-95.
      832 N Dixie Hwy, Lake Worth, FL 33460
      View Details
    • $3,500,000
      3,500 SF

      Retail Storefront in Historic Downtown

      3,500 SF retail storefront with outdoor patio space.
      802 Lake Ave, Lake Worth, FL 33460
      View Details
    • $1,460,000
      5,259 SF

      Retail/Warehouse Space in Lake Worth

      Retail/warehouse space with residential property near downtown and I-95.
      922/928 S Dixie Hwy, Lake Worth, FL 33460
      View Details
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    1502 Dixie Hwy
    Lake Worth, FL 33460-1847
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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