602 Lucerne Ave Lake Worth, FL 33460
Property profile & analytics
602 Lucerne Ave, Lake Worth, FL 33460
- Retail space
- 0.39 lot acres
Property ID
US18-7542904
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.
Location Intelligence
Current Use by Public Records
- Retail space
Property Details for 602 Lucerne Ave
- Construction
- CONCRETE
- Lot size
- 0.39 lot acres
- Zone code
- DT
- Property type
- Retail space
- APN
- 38-43-44-21-15-022-0210
- APU
- 38434421150220210
Description
This exceptional retail investment opportunity presents a 4,875 square foot, multi-tenant storefront building situated in the heart of Downtown Lake Worth Beach, Florida. The property boasts a prime corner location with high traffic counts and ample parking (30 spaces) for tenants and customers. Comprising two single-story buildings constructed in 1948 and 1951, with renovations completed 5 years ago, the property is currently 100% occupied by five tenants under gross leases. The remaining lease term averages 2 years, presenting a value-add opportunity for the next owner. The property sits on a 0.39-acre lot and is zoned DT (Downtown City of Lake Worth Beach). With a current asking price of $2,499,000, the property offers a 5.00% cap rate and a price per square foot of $512.62. The building is classified as Class B and is an excellent investment for owner-users or investors seeking a strong return in a thriving downtown area. Long-term tenants contribute to consistent income, and the large lot size provides potential for future expansion or redevelopment. This is a rare opportunity to acquire a well-maintained property in a rapidly growing market. The property's location offers excellent visibility and accessibility, making it an attractive destination for businesses and customers alike.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Lake Worth
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0546
- Latitude
- 26.6168
- 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
$28,087
$793,285
$456,453
$1,249,738
-
$793,285
$456,453
$1,249,738
