Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1506 Wingfield St Lake Worth, FL 33460-5560

    • Commercial real estate
    • 2,400 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    $630,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0459806
    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

    • American Academy / High School

    Property Details for 1506 Wingfield St

    Year built
    1962
    Construction
    WOOD
    Lot size
    0.16 lot acres
    Property size
    2,400 SF
    Zone code
    SF-TF-14
    Property type
    Commercial real estate
    APN
    38-43-44-27-01-079-0040
    APU
    38434427010790040

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $690,000
      6.5%
      $635,000
      7%
      $590,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $743,000
      Market price range: $455k - $1.03M
      AI Estimate
      $514,000
      Market price range: $177k - $689k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $630,000
      Current use
      AUTO REPAIR, GARAGE
      $990,000
      Change: +57% Conversion: Difficult
      MEDICAL BUILDING
      $945,000
      Change: +50% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $875,000
      Change: +39% Conversion: Difficult
      OFFICE BUILDING
      $775,000
      Change: +23% Conversion: Easy
      RETAIL STORES
      $690,000
      Change: +9% Conversion: Easy
      WAREHOUSE, STORAGE
      $665,000
      Change: +6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Worth
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0577
    Latitude
    26.5975
    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
    $8,473
    $166,800
    $179,861
    $346,661
    -
    $166,800
    $179,861
    $346,661

    Comparable in this City

    • Value Estimation
      $2,705,000
      10,999 SF

      1105 2nd S Ave

      SHOW ROOM, WAREHOUSE • 10,999 SF
      1105 2nd S Ave, Lake Worth, FL 33460-4001
      View Details
    • Value Estimation by Request
      294 SF

      304 Dixie Hwy

      COMMERCIAL (GENERAL) • 294 SF
      304 Dixie Hwy, Lake Worth, FL 33460-4441
      View Details
    • Value Estimation
      $2,280,000
      11,339 SF

      1213 Pope Ln

      SHOW ROOM, WAREHOUSE • 11,339 SF
      1213 Pope Ln, Lake Worth, FL 33460-6145
      View Details
    • Value Estimation
      $1,595,000
      7,250 SF

      14 Coast St

      SHOW ROOM, WAREHOUSE • 7,250 SF
      14 Coast St, Lake Worth, FL 33460-3722
      View Details
    • Value Estimation
      $2,270,000
      9,864 SF

      1749 3rd S Ave

      SHOW ROOM, WAREHOUSE • 9,864 SF
      1749 3rd S Ave, Lake Worth, FL 33460-4081
      View Details
    • Value Estimation by Request
      1,296 SF

      205 Federal Hwy

      COMMERCIAL (GENERAL) • 1,296 SF
      205 Federal Hwy, Lake Worth, FL 33460-4230
      View Details

    Similar Nearby for Sale

    • $1,390,000
      0.82 Acres

      South Federal Hwy Development Land

      Prime Lake Worth Beach land, 0.82 acres, 37-unit potential.
      1600 Federal Hwy, Lake Worth Beach, FL 33460
      View Details
    • $130,000

      Lake Worth Beach Auto Repair Business

      Established Auto Repair Shop - High Inventory
      6th Ave, Lake Worth Beach, FL 33460
      View Details
    • $4,989,050

      901 Federal Hwy

      Specialty properties
      901 Federal Hwy, Lake Worth, FL 33460
      View Details
    • $699,000

      Lake Worth Beach Triplex Opportunity

      Income-producing triplex near downtown Lake Worth Beach.
      19 S E St, Lake Worth, FL 33460
      View Details
    • $765,000

      Lake Worth Income Property

      Income property near golf course and beach.
      1602 3Rd Ave, Lake Worth, FL 33460
      View Details
    • $350,000

      Lake Worth Beach Duplex

      Duplex near downtown Lake Worth Beach with investment potential.
      323 S E St, Lake Worth, FL 33460
      View Details

    Similar Nearby for Lease

    • $51 SF/Yr
      1,168 SF

      Lake Avenue Historic Building

      Downtown gem, renovated, single tenant.
      805 Lk Ave, Lake Worth Beach, FL 33460
      View Details
    • $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
    • $2,250,000
      2,000 SF

      Flex Space with Drive-Thru Bays

      6,000 SF building with 2,000 SF available for lease.
      308 S H St, Lake Worth, 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
    • Contact for pricing

      Lake Worth Road Office Building

      Prime Lake Worth Beach Office Space
      1744 Lk Worth Rd, Lake Worth Beach, FL 33460
      View Details
    • $20 SF/Yr
      5,411 SF

      Lake Worth Office Space Available

      5,411 SF office space for rent in Lake Worth.
      202 N Federal Hwy, Lake Worth, FL 33460
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1506 Wingfield St
    Lake Worth, FL 33460-5560
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.