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Property profile & analytics
OFF-MARKET Estimated value $1,100,000
Retail space

406 Lucerne Ave Lake Worth, FL 33460-3817

2,152 SF 0.3 ac lot Built 1979
Entity Owned 1-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US18-4465150
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1979
Construction CONCRETE
Total area 2,152 SF
Lot 0.3 ac (13,007 SF)
Zoning code DT
APN 38-43-44-21-15-026-0150
UPID US18-4465150
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.10M
CAP Approach CAP
by Request
Comparable Approach Comparable
$914k
Blend (final) Blend
$1.10M
Owner & transaction history
Bc Lucerne LLC · 1 yrs held
Bc Lucerne LLC
since 2024
Last sale
$1.1M
6 recorded transactions
2024
Price N/A
2024
$1.1M
2018
Price N/A
2018
$750,000
2015
$389,000
1969
Price N/A
Zoning & alternative use
DT · Lake Worth, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $885,000 +43.4%
Medical building $850,000 +37.3%
Neighborhood: shopping center $785,000 +26.7%
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