406 Lucerne Ave Lake Worth, FL 33460-3817
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.
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
DT · Lake Worth, FLLake Worth. Always verify with local authorities before improvements.
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.