406 Lucerne Ave Lake Worth, FL 33460-3817
- Retail space
- 2,152 SF
- 0.30 lot acres
Sep 18, 2024
Current Use by Public Records
- Retail space
Property Details for 406 Lucerne Ave
- Year built
- 1979
- Construction
- CONCRETE
- Lot size
- 0.30 lot acres
- Property size
- 2,152 SF
- Zone code
- DT
- Property type
- Retail space
- APN
- 38-43-44-21-15-026-0150
- APU
- 38434421150260150
Description
This exceptional 2,152-square-foot creative office space is situated on a prominent corner lot in the heart of Lake Worth Beach's downtown area, at the northwest intersection of Lucerne Avenue and North Federal Highway. The single-tenant building, constructed in 1979 and renovated in 2010, boasts a Class A designation and features a 10-foot ceiling height. The property sits on 0.3 acres of land within a larger 13,068-square-foot lot, providing ample space and potential for outdoor expansion. With 16 parking spaces available, this property is well-suited for a variety of businesses. The building's zoning is DT - Downtown Zoning, allowing for flexibility in its use. The property taxes are $7.32 per square foot. The building is currently vacant, presenting a unique opportunity for a business to establish itself in a rapidly growing area. The owner is offering assistance with build-out, making this an even more attractive proposition. The location benefits from high visibility due to its placement at a signalized intersection. This property offers a significant advantage over comparable spaces in nearby Delray Beach or West Palm Beach, providing a cost-effective entry point into a thriving market. The proximity to the planned "WMODA Museum and Campus Project" and the redevelopment of the Gulfstream Hotel further enhances the investment potential. This is a rare opportunity to secure a prime location in a dynamic and expanding downtown area. The Palm Beach County property features a single story and no elevators. The APN is 38-43-44-21-15-026-0150.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,100,000
- ML approach
- $1,100,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $913,000
Market price range: $346k - $914k -
Alternative Use
- Use
- Estimation
- AUTO REPAIR, GARAGE
- $885,000
- MEDICAL BUILDING
- $850,000
- NEIGHBORHOOD: SHOPPING CENTER
- $785,000
- OFFICE BUILDING
- $695,000
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Location Insight
- Map
- Local Demand
- City
- Lake Worth
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0527
- Latitude
- 26.6167
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
