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Property profile & analytics
OFF-MARKET
Estimated value
$1,545,000
Retail space
604 Lk Ave Lake Worth, FL 33460-3811
Entity Owned
~
Est. High Equity
Property ID
US18-3452031
Property summary
AI-generated overview
This exceptional 6,950-square-foot restaurant in downtown Lake Worth Beach, Florida, is offered at $4,500,000. Built in 1999, this completely renovated, operationally ready property boasts high visibility and foot traffic in a vibrant area known for its eclectic dining scene, theaters, museums, and nightlife. The building features an outdoor covered patio with fans and lights, offering additional seating on Lake Avenue. Inside, you'll find two bars with both indoor and outdoor seating, and two ADA-compliant bathrooms. The high ceilings (25 feet) add to the spacious feel. This property presents a prime investment opportunity with multiple uses for developers. Maintain it as a single restaurant for immediate cash flow, subdivide the space, or pursue future development projects. Located at 604 Lake Avenue, Lake Worth Beach, FL 33460, this property offers endless possibilities for the right buyer. The property is currently vacant and ready for a new restaurateur to establish their presence in this thriving community.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1999
Construction
CONCRETE
Total area
6,312 SF
Lot
0.2 ac (8,503 SF)
Zoning code
DT
APN
38-43-44-21-15-509-0100
UPID
US18-3452031
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
Current use
Occupant on record · Public records
-
Andrew Custer Esq Attorney In Florida Law Firm
-
Lake Worth has Talent! Association Or Organization
-
Jackson SR22 Group Business Management Consultant
-
Florida Property Pros Real Estate Agency
-
Christopher Gleason Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.64M
Comparable Approach
Comparable
$1.38M
Blend (final)
Blend
$1.55M
Owner & transaction history
Aloha Miracle LLC
Aloha Miracle LLC
since 2026
6 recorded transactions
Zoning & alternative use
DT · Lake Worth, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.5M
+37.3%
Neighborhood: shopping center
$2.3M
+26.7%
Office building
$2.0M
+12.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lake Worth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Worth submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,780,000
6.5%
$1,640,000
7%
$1,525,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,810,000
Current use
MEDICAL BUILDING
$2,490,000
Change: +37% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,295,000
Change: +27% · Conversion: Moderate
OFFICE BUILDING
$2,035,000
Change: +12% · Conversion: Easy
WAREHOUSE, STORAGE
$1,750,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$1.55M
Range $1.39M – $1.70M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$245 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$45,677
Tax year 2023
Assessed value
$1,775,114
Assessed 2023
Previous assessed
$1,181,646
+50.2% YoY
Effective rate
2.57%
On assessed value
Assessed land
$450,489
Assessed improvement
$1,324,625
Land market value
$450,489
Improvement market value
$1,324,625
Total market value
$1,775,114
Applied tax rate
38,453.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1999
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
6,312 SF
Lot
0.2 ac (8,503 SF)
Zoning code
DT
APN
38-43-44-21-15-509-0100
UPID
US18-3452031
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
DT · Lake Worth, FL
Zoning DT · permitted uses
DT · Lake Worth, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Worth. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
OFFICE BUILDING
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$1.8M
RETAIL STORES Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Aloha Miracle LLC
Entity
Mailing address
1199 S FEDERAL HWY #418, BOCA RATON, FL 33432-7335
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 11, 2026
$2,500,000
Aloha Miracle LLC
Lucerne Ave Development LLC
Warranty Deed
—
Aug 12, 2021
—
Lucerne Ave Development LLC
—
Deed
related
$750,000 · Flagler Bank
Dec 3, 2019
—
Lucerne Ave Development LLC
—
Deed
related
$1,660,000 · Flagler Bank
May 7, 2018
$1,800,000
Lucerne Ave Dev LLC
Ground Zero Restaurant Concept
Grant Deed
—
May 10, 2012
$1,100,000
Ground Zero Restaurant Concept
Rosies Lake Worth INC
Warranty Deed
$489,022 · Rosie's Lake Worth INC
—
—
Rosies Lake Worth INC
—
Deed Of Trust
related
$590,000 · Republic Federal Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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