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    713 2 Ave Lake Worth Beach, FL 33460

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    713 2 Ave Lake Worth Beach, FL 33460

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    • Commercial real estate
    • 4,592 SF
    Off-Market
    Property ID
    US18-1164805
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 713 2 Ave

    Year built
    1950
    Property size
    4,592 SF
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a beautifully maintained, eight-unit multi-family property situated on a corner lot in desirable Lake Worth Beach, Florida. The property, located at 713 2nd Avenue S, boasts a total of 4,592 square feet and comprises two buildings. Each of the eight units is attractively furnished. Built in 1950, the property underwent a complete renovation in 2020, resulting in significant upgrades. These improvements include brand new hurricane impact glass windows and doors, fresh stucco, a new roof, refinished floors, updated plumbing and water lines, a completely overhauled mechanical and electrical system, and upgraded lighting throughout. The property also features a spacious backyard, offering ample room for the addition of a swimming pool. Its prime location places it just one block away from the renowned Bamboo Room. Detailed rent rolls are available for review upon request. The owner is also offering a package deal that includes three additional commercial/residential income-producing properties in Lake Worth Beach (805 Lake Ave, 1812 N Dixie Hwy, and 1914 N Dixie Hwy), presenting a unique opportunity for a significant portfolio acquisition. The asking price for this specific property is $1,699,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Worth Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.056162
    Latitude
    26.613269

    Comparable in this City

    • $149,000

      Commercial Property on J Street

      Commercial property for sale on J Street in Lake Worth.
      11 N J St, Lake Worth, FL 33460
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    • $1,951,950
      12,270 SF

      Lake Worth Commercial Property

      Commercial property for sale in Lake Worth, Florida.
      2712 Park St, Lake Worth, FL 33460
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    • $2,250,000
      2,000 SF

      Flex Space with Drive-Thru Bays

      6,000 SF building with 2,000 SF available for lease.
      308 S H St, Lake Worth, FL 33460
      View Details

    Similar Nearby for Sale

    • $149,000

      Commercial Property on J Street

      Commercial property for sale on J Street in Lake Worth.
      11 N J St, Lake Worth, FL 33460
      View Details
    • $1,951,950
      12,270 SF

      Lake Worth Commercial Property

      Commercial property for sale in Lake Worth, Florida.
      2712 Park St, Lake Worth, FL 33460
      View Details
    • $2,250,000
      2,000 SF

      Flex Space with Drive-Thru Bays

      6,000 SF building with 2,000 SF available for lease.
      308 S H St, Lake Worth, FL 33460
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,225 SF

      New Retail Space Available

      Customizable retail space in Lake Worth with excellent exposure.
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      1,400 SF

      Retail Space in Lake Worth

      Retail spaces available in renovated Lake Worth shopping center.
      2505-2565 N Dixie Hwy, Lake Worth, FL 33460
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    • New
      $2,800 /Mo
      Pending

      Lake Worth Beach Office Space

      Second floor office space suitable for startups and call centers.
      1776 Lake Worth Rd, Lake Worth, FL 33460
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      Lake Worth Beach Commercial Building

      1,275 SF commercial building with expansion potential in Lake Worth.
      2211 N Dixie Hwy, Lake Worth, FL 33460
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      Downtown Lake Worth Beach Suites

      Retail and office suites for rent in downtown Lake Worth.
      605 Lake Ave, Lake Worth, FL 33460
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    • $2,800 /Mo

      Spacious Second Floor Office Space

      1200 sq ft office space available for rent.
      1776 Lake Worth Rd, Lake Worth, FL 33460
      View Details
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    713 2 Ave
    Lake Worth Beach, FL 33460
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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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    713 2 Ave, Lake Worth Beach, FL, 33460

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