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    6905 Lk Worth Rd Greenacres, FL 33467-2902
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    Property profile & analytics

    6905 Lk Worth Rd, Greenacres, FL 33467-2902

    View on Map
    • Office buildings
    • 3,680 SF
    • 1.00 lot acres
    Off-Market
    Last Sale May 27, 2021
    $1,400,000
    Property ID
    US18-4084366
    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
    $1,545,000
    Show details
    Cap Rate Potential
    6.3%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 6905 Lk Worth Rd

    Year built
    1986
    Construction
    CONCRETE
    Lot size
    1.00 lot acres
    Zone code
    CI
    Property type
    Office buildings
    APN
    18-42-43-27-05-022-0734
    APU
    18424327050220734

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 27, 2021 $1,400,000 Acg Greenacres LLC Water S Edge Realty Of Okeechobee L Special Warranty Deed $1.7M · Valley Bank
    Jul 10, 2019 $1,080,000 Water S Edge Realty Of Okeechobee L Wells Fargo Bank National Associati Warranty Deed —
    Feb 7, 2012 — Federal United Mortgage Trust Wachovia Bk Grant Deed · related —
    Jul 21, 1998 $1,094,100 Southtrust Bank NA Home Savings Of America Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,655,000
      ML approach
      $1,680,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,735,000
      6.5%
      $1,600,000
      7%
      $1,485,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $945,000
      Market price range: $246k - $1.06M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,620,000
      Current use
      COMMERCIAL (GENERAL)
      $1,690,000
      Change: +4% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,515,000
      Change: -7% Conversion: Difficult
      MEDICAL BUILDING
      $1,450,000
      Change: -11% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,340,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenacres
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.1531
    Latitude
    26.618
    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
    $23,955
    $0.00
    $1,200,000
    $1,200,000
    -
    $0.00
    $1,200,000
    $1,200,000

    Comparable in this City

    • Value Estimation by Request
      2,221 SF

      7300 Lk Worth Rd

      OFFICE BUILDING (MULTI-STORY)
      7300 Lk Worth Rd, Lake Worth, FL 33467-2529
      View Details
    • Value Estimation
      $1,285,000
      4,120 SF

      7965 Lantana Rd

      OFFICE BUILDING (MULTI-STORY)
      7965 Lantana Rd, Lake Worth, FL 33467-6343
      View Details
    • Value Estimation
      $8,430,000
      21,993 SF

      6801 Lk Worth Rd Ste 100e

      OFFICE BUILDING (MULTI-STORY)
      6801 Lk Worth Rd Ste 100e, Greenacres, FL 33467-2965
      View Details
    • Value Estimation
      $785,000
      1,800 SF

      9011 Lantana Rd

      OFFICE BUILDING (MULTI-STORY)
      9011 Lantana Rd, Lake Worth, FL 33467-5935
      View Details
    • Value Estimation
      $1,965,000
      5,349 SF

      8961 Hypoluxo Rd

      OFFICE BUILDING (MULTI-STORY)
      8961 Hypoluxo Rd, Lake Worth, FL 33467-5203
      View Details
    • Value Estimation
      $875,000
      3,132 SF

      7405 Lk Worth Rd

      OFFICE BUILDING (MULTI-STORY)
      7405 Lk Worth Rd, Lake Worth, FL 33467-2530
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,349 SF

      Lake Worth Out-Parcel Investment Opportunity

      Free-standing building with four units in a prime location.
      8961 Hypoluxo Rd, Lake Worth, FL 33467
      View Details
    • $499,999
      0.67 Acres

      Community Commercial Zoned Development Land

      0.67-acre parcel along Lantana Road, zoned CC for a range of neighborhood-serving commercial uses.
      8826 Lantana Rd, Lake Worth, FL 33467
      View Details
    • $139,000

      Established Restaurant - Greenacres, FL

      Turnkey Restaurant, Loyal Clientele, High Profits
      00000 Jog Rd, Greenacres, FL 33467
      View Details
    • Contact for pricing

      Established Restaurant in Shopping Plaza

      Well-equipped restaurant with 25 years of successful operation.
      00000 S Jog Rd, Greenacres, FL 33467
      View Details
    • Contact for pricing
      Pending

      Lake Worth Beach Agricultural Land

      6.3351 acres with warehouse and office space.
      8087 Palomino Dr, Wellington, FL 33467
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Medical Office Space For Rent

      Medical office building in central Palm Beach County location.
      7408 Lake Worth Rd, Greenacres, FL 33467
      View Details
    • $27 SF/Yr
      20,875 SF

      Medical Office with Surgery Center

      Ground-floor medical office space features an on-site surgery center and covered patient drop-off.
      7408 Lake Worth Rd, Lake Worth, FL 33467
      View Details
    • Contact for pricing
      3,282 SF

      Medical Office Space Available

      B+ medical office space with on-site surgery center.
      7408 Lake Worth Rd, Lake Worth, FL 33467
      View Details
    • Contact for pricing
      2,797 SF

      Retail Space in Palm Beach

      Retail space in established Palm Beach market near new homes.
      8450 Lake Worth Rd, Lake Worth, FL 33467
      View Details
    • Contact for pricing
      1,750 SF

      Lake Worth Retail Space Available

      Grocery-anchored shopping center with available retail space for lease.
      6169 S Jog Rd, Lake Worth, FL 33467
      View Details
    • Contact for pricing
      1,294 SF

      Retail Space in Publix-Anchored Center

      Retail space available in a Publix-anchored shopping center.
      8831 Hypoluxo Rd, Lake Worth, FL 33467
      View Details
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    Greenacres, FL 33467-2902
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    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
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    6905 Lk Worth Rd, Greenacres, FL, 33467
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