Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4509 Lk Worth Rd Greenacres, FL 33463-8726

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4509 Lk Worth Rd Greenacres, FL 33463-8726

    View on Map
    • Strip malls
    • 2,185 SF
    • 0.23 lot acres
    Off-Market
    Property ID
    US18-3026967
    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
    $505,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 4509 Lk Worth Rd

    Year built
    2006
    Construction
    CONCRETE
    Lot size
    0.23 lot acres
    Property size
    2,185 SF
    Zone code
    CI
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    18-42-44-24-00-000-7120
    APU
    18424424000007120

    Description

    Mil-Lake Plaza, located at 4500 Lake Worth Road, Greenacres, Florida 33463, presents a compelling retail opportunity. This single-story, Class B retail center boasts a total of 130,000 square feet and offers flexible space options. Currently, 8,230 square feet of vacant space is available, divisible into units as small as 850 square feet, with a maximum contiguous space of 7,380 square feet. The property enjoys a prime location at the intersection of Lake Worth Road and Military Trail in Palm Beach County, ensuring high visibility and accessibility for businesses. The multiple tenancy structure provides a diverse and vibrant shopping environment. This is an ideal location for retailers seeking a well-established space in a bustling area with significant foot traffic. The property's strategic placement offers excellent exposure to a large customer base. Interested parties are encouraged to inquire about lease terms and available space configurations. The property is situated in a thriving commercial area of Greenacres, offering easy access to major roadways and a strong local customer base.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $700,000
      6.5%
      $645,000
      7%
      $600,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $795,000
      Current use
      RETAIL STORES
      $675,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenacres
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.1154
    Latitude
    26.6189
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,640
    $138,871
    $285,735
    $424,606
    -
    $138,871
    $285,735
    $424,606

    Comparable in this City

    • Value Estimation
      $1,155,000
      5,524 SF

      4664 Lk Worth Rd

      SHOPPING CENTER, STRIP CENTER • 5,524 SF
      4664 Lk Worth Rd, Greenacres, FL 33463-3452
      View Details
    • Value Estimation
      $5,125,000
      27,969 SF

      7437 Military Trl

      SHOPPING CENTER, STRIP CENTER • 27,969 SF
      7437 Military Trl, Lake Worth, FL 33463-7800
      View Details
    • Value Estimation
      $910,000
      2,994 SF

      6014 Military Trl

      SHOPPING CENTER, STRIP CENTER • 2,994 SF
      6014 Military Trl, Lake Worth, FL 33463-6969
      View Details
    • Value Estimation
      $975,000
      6,400 SF

      6159 Lk Worth Rd Ste, Unit 1

      SHOPPING CENTER, STRIP CENTER • 6,400 SF
      6159 Lk Worth Rd Ste, Greenacres, FL 33463-3031
      View Details
    • Value Estimation
      $4,595,000
      35,150 SF

      4824 10th N Ave

      SHOPPING CENTER, STRIP CENTER • 35,150 SF
      4824 10th N Ave, Greenacres, FL 33463-2208
      View Details
    • Value Estimation
      $4,790,000
      31,683 SF

      6400 Melaleuca Ln

      SHOPPING CENTER, STRIP CENTER • 31,683 SF
      6400 Melaleuca Ln, Greenacres, FL 33463-3807
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Versatile Commercial Space For Sale

      Located on Lake Worth Road, ideal for retail or office.
      5700 Lake Worth Rd, Greenacres, FL 33463
      View Details
    • Contact for pricing
      0.55 Acres

      Greenacres Industrial Warehouse Unit

      Newly renovated, prime Greenacres location.
      5280 10 Ave, Greenacres, FL 33463
      View Details
    • Contact for pricing

      Greenacres Specialty Property For Sale

      Specialty property available for purchase in Greenacres, Florida.
      5371 10Th Ave, Greenacres, FL 33463
      View Details
    • 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

    Similar Nearby for Lease

    • Contact for pricing
      1,618 SF

      Retail Space in Pinewood Square

      Open-air shopping center space for lease in Lake Worth.
      6250 Lantana Rd, Lake Worth, FL 33463
      View Details
    • Contact for pricing
      1,320 SF

      Retail Space in Pinewood Square

      Retail space available in high-performing Palm Beach County shopping center.
      6330-6346 Lantana Rd, Lake Worth, FL 33463
      View Details
    • Contact for pricing
      900 SF

      Retail Space on Military Trail

      Retail space available in Lake Worth with high traffic count.
      7459 S Military Trl, Lake Worth, FL 33463
      View Details
    • Contact for pricing
      7,481 SF

      Retail Space in Lake Worth

      7,481 SF retail space available for lease.
      3772 S Military Trl, Lake Worth, FL 33463
      View Details
    • $6 SF/Yr
      4,864 SF

      Lake Worth Office Space Available

      Office space for lease on Military Trail Blvd in Lake Worth.
      3379 S Military Trl, Lake Worth, FL 33463
      View Details
    • New
      $1,050 /Mo
      8,320 SF

      Lake Worth Commercial Space Available

      Commercial space for rent in Lake Worth, Florida.
      3141 S Military Trl, Lake Worth, FL 33463
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4509 Lk Worth Rd
    Greenacres, FL 33463-8726
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!