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    Property profile & analytics

    810 Park Ave Lake Park, FL 33403

    • Strip malls
    • 8,931 SF
    • 0.57 lot acres
    For Sale
    View listing
    $2,825,000
    Last Sale
    May 08, 2023
    $220,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3637430
    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.

    Current Use by Public Records

    • Strip malls

    Property Details for 810 Park Ave

    Year built
    1967
    Construction
    CONCRETE
    Lot size
    0.57 lot acres
    Property size
    8,931 SF
    Zone code
    PADD
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    36-43-42-20-01-006-0030
    APU
    36434220010060030

    Description

    This exceptional 8,931-square-foot retail property is ideally situated within the Lake Park CRA, offering significant potential for a variety of businesses. The single-tenant occupancy presents a unique opportunity for an owner-user or investor seeking a substantial space in a thriving community. The property boasts ample parking with 32 spaces, ensuring convenient access for customers and employees. Its PADD zoning provides flexibility for a wide range of uses, making it an attractive option for diverse business ventures. The location within the Lake Park CRA opens doors to potential improvement funding opportunities offered by the Town of Lake Park, further enhancing the investment appeal. The property's substantial size and prime location make it an excellent choice for businesses seeking high visibility and accessibility. The APN is 36434220010060030. Please note that the existing business operation should not be disturbed, and property visits are strictly by appointment only. This is a rare opportunity to acquire a significant retail space in a desirable location with considerable growth potential. The property features a single tenant occupancy and is zoned PADD.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Park
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0691
    Latitude
    26.7984
    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
    $27,735
    $400,000
    $909,202
    $1,309,202
    -
    $400,000
    $909,202
    $1,309,202

    Comparable in this City

    • Value Estimation
      $1,965,000
      13,785 SF

      905 Us Hwy 1st A Ste A

      SHOPPING CENTER, STRIP CENTER • 13,785 SF
      905 Us Hwy 1st A Ste A, Lake Park, FL 33403-2857
      View Details
    • Value Estimation
      $1,675,000
      7,412 SF

      415 Us Hwy 1st A Ste A

      SHOPPING CENTER, STRIP CENTER • 7,412 SF
      415 Us Hwy 1st A Ste A, Lake Park, FL 33403-3585
      View Details
    • Value Estimation
      $945,000
      5,800 SF

      1408 10th St

      SHOPPING CENTER, STRIP CENTER • 5,800 SF
      1408 10th St, Lake Park, FL 33403-2037
      View Details
    • Value Estimation
      $3,090,000
      15,801 SF

      2863 Northlake Blvd Ste, Unit 1

      SHOPPING CENTER, STRIP CENTER • 15,801 SF
      2863 Northlake Blvd Ste, West Palm Beach, FL 33403-1959
      View Details
    • Value Estimation
      $1,385,000
      4,500 SF

      955 Park Ave

      SHOPPING CENTER, STRIP CENTER • 4,500 SF
      955 Park Ave, Lake Park, FL 33403-2405
      View Details
    • Value Estimation
      $665,000
      3,516 SF

      924 Park Ave

      SHOPPING CENTER, STRIP CENTER • 3,516 SF
      924 Park Ave, Lake Park, FL 33403-2404
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • Contact for pricing
      4,250 SF

      Retail Space in Lake Park

      Neighborhood shopping center with strong tenants and high visibility.
      1218-1260 Northlake Blvd, West Palm Beach, FL 33403
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      Lake Park Retail Space For Sale

      Prime 1,288 SF Retail Opportunity
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    • Contact for pricing
      123,556 SF

      Northlake Commons Retail Center

      Prime Palm Beach Gardens Retail Space
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      Jupiter Retail Center Investment Opportunity

      Prime Jupiter retail space, multiple units available.
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    • $0.03 SF/Yr
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      Prime Retail Space, Lake Park

      8,900 SF Retail, 32 Parking Spaces
      810 Park Ave, Lake Park, FL 33403
      View Details
    • $16 SF/Yr
      2,200 SF

      Killian Drive Retail Space For Lease

      Prime Retail Space, High Visibility, Flexible Layout
      1338 Killian Dr, Lake Park, FL 33403
      View Details
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    Lake Park, FL 33403
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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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