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    3716 Elaine Dr Lake Worth, FL 33463

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    3716 Elaine Dr Lake Worth, FL 33463

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    • Commercial real estate
    • 1.41 lot acres
    For Sale
    $675,000
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    Lake Worth Development Opportunity For Sale
    $675,000
    1.41 Acres

    Lake Worth Development Opportunity

    1.41-acre property zoned for multi-family development in Lake Worth.

    3716 Elaine Drive, Lake Worth, FL 33463
    View Listing
    Property ID
    US18-8759219
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3716 Elaine Dr

    Lot size
    1.41 lot acres
    Property type
    Commercial real estate
    APN
    00424424000007200/00424424000007570

    Description

    This exceptional 1.41-acre development site in Lake Worth Beach, Florida, presents a remarkable opportunity for investors and developers. Located at 3716 Elaine Dr, 33463, Palm Beach County, this property is zoned for multi-family residential use, offering significant potential for various projects. The site's APN is 00424424000007200/00424424000007570. All necessary engineering documents and reports are included, streamlining the development process and saving considerable time and resources. The asking price for this prime piece of real estate is $675,000. Its convenient location within Lake Worth Beach provides easy access to local amenities and attractions, making it an attractive location for future residents. This property represents a unique chance to capitalize on the thriving real estate market in a desirable Florida location. The comprehensive engineering documentation eliminates many of the initial hurdles associated with development, allowing for a quicker and more efficient project timeline. Don't miss this chance to acquire a fully prepared development site in a prime location. Contact us to schedule a viewing and explore the endless possibilities this land offers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Worth Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.1191077
    Latitude
    26.6230521

    Comparable in this City

    • Contact for pricing

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      Lake Worth Residential Development Opportunity

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      Lake Worth Multifamily Development Site

      0.91 acre multifamily development site with approved plans.
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    • $675,000
      1.41 Acres

      Lake Worth Development Opportunity

      1.41-acre property zoned for multi-family development in Lake Worth.
      3716 Elaine Dr, Lake Worth, FL 33463
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Pad Site Available

      Buildable pad site with high visibility and neighboring retailers.
      4954 S Military Trl, Lake Worth, FL 33463
      View Details
    • $2,300,000
      2.65 Acres

      Lake Worth Residential Development Opportunity

      2.65 acres of cleared land suitable for residential development.
      5400 Thunderbird Dr, Lake Worth, FL 33463
      View Details
    • $799,000
      0.98 Acres

      Lake Worth 1-Acre Parcel

      Prime 1-acre parcel ready for custom build in Lake Worth.
      7235 Saddle Rd, Lake Worth, FL 33463
      View Details
    • $650,000
      0.91 Acres

      Lake Worth Multifamily Development Site

      0.91 acre multifamily development site with approved plans.
      4160 42Nd Ave S, Lake Worth, FL 33463
      View Details
    • $675,000
      1.41 Acres

      Lake Worth Development Opportunity

      1.41-acre property zoned for multi-family development in Lake Worth.
      3716 Elaine Dr, Lake Worth, FL 33463
      View Details

    Similar Nearby for Lease

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      1,320 SF

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      Military Trail Office Space For Lease

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    View Listing
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    Lake Worth, FL 33463
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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.

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    3716 Elaine Dr, Lake Worth, FL, 33463

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