2935 Lake Worth Rd Palm Springs, FL 33461
For Sale
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This exceptional commercial property, located at 2935 Lake Worth Road in Palm Springs, Florida, presents a unique investment opportunity. The 1,250 square foot building, constructed in 1981, is situated on a lot with no recorded square footage. Currently zoned commercial, the property offers significant upside potential. The existing structure is a single-story building, but zoning regulations allow for expansion up to three stories, providing substantial opportunities for future development and increased rental income. The property is currently utilized as a mixed-use space, featuring two bedrooms and one and a half bathrooms, alongside commercial space. This versatile configuration caters to a variety of potential uses, making it an attractive option for both investors and owner-occupiers. The asking price is $1,025,000. The property is owner-occupied, and appointments are required for viewings. Located in the 33461 zip code, this property offers convenient access to Lake Worth Beach's vibrant commercial district. The property's flexibility and prime location make it an ideal investment for those seeking a high-return opportunity in a thriving market. Serious inquiries only.
It is the purpose of the CG commercial general land development district to provide lands within the village for a wide range of goods and commercial services that serve a consumer market that may extend beyond municipal limits. Such areas shall be located convenient to major roads and automotive traffic. However, it is not the intent of this land developmen…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
CG · Palm Springs, FLIt is the purpose of the CG commercial general land development district to provide lands within the village for a wide range of goods and commercial services that serve a consumer market that may extend beyond municipal limits. Such areas shall be located convenient to major roads and automotive traffic. However, it is not the intent of this land development district to necessarily create or promote an extension of strip commercial areas.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.