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    824 Lk Ave Lake Worth, FL 33460-3754
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    Property profile & analytics

    824 Lk Ave, Lake Worth, FL 33460-3754

    View on Map
    • Strip malls
    • 5,465 SF
    • 0.16 lot acres
    Off-Market
    Last Sale Jan 25, 2021
    Property ID
    US18-4488421
    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
    $1,280,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ugo Print / Marketing & Advertising / Advertising Agency
    • One Three Consultants / Environmental Consultant
    • Prime Data Communications / Telecommunications Service
    • Heca Sante Inc / Church

    Property Details for 824 Lk Ave

    Year built
    1926
    Construction
    WOOD
    Lot size
    0.16 lot acres
    Zone code
    DT
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    38-43-44-21-15-507-0130
    APU
    38434421155070130

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,755,000
      6.5%
      $1,620,000
      7%
      $1,505,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,990,000
      Current use
      OFFICE BUILDING
      $1,765,000
      Change: -11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Worth
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0569
    Latitude
    26.6161
    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
    $24,844
    $370,966
    $678,370
    $1,049,336
    -
    $370,966
    $678,370
    $1,049,336

    Comparable in this City

    • Value Estimation
      $1,145,000
      3,971 SF

      500 Lk Ave

      SHOPPING CENTER, STRIP CENTER
      500 Lk Ave, Lake Worth, FL 33460-3809
      View Details
    • Value Estimation
      $740,000
      3,442 SF

      430 Dixie Hwy

      SHOPPING CENTER, STRIP CENTER
      430 Dixie Hwy, Lake Worth, FL 33460-4459
      View Details
    • Value Estimation
      $1,120,000
      6,640 SF

      213 Dixie Hwy

      SHOPPING CENTER, STRIP CENTER
      213 Dixie Hwy, Lake Worth, FL 33460-4134
      View Details
    • Value Estimation
      $860,000
      3,150 SF

      2000 Dixie Hwy Ste, Unit 1

      SHOPPING CENTER, STRIP CENTER
      2000 Dixie Hwy Ste, Lake Worth, FL 33460-6244
      View Details
    • Value Estimation
      $1,235,000
      5,484 SF

      817 Lk Ave

      SHOPPING CENTER, STRIP CENTER
      817 Lk Ave, Lake Worth, FL 33460-3706
      View Details
    • Value Estimation
      $1,560,000
      8,322 SF

      2101 Dixie Hwy

      SHOPPING CENTER, STRIP CENTER
      2101 Dixie Hwy, Lake Worth, FL 33460-6258
      View Details

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    • Contact for pricing
      7,109 SF

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      3,828 SF

      Retail Space in Lake Worth

      Retail property with mixed-use zoning and storefront entrances.
      2011 N Dixie Hwy, Lake Worth, FL 33460
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      Auto Repair Business For Sale

      Established auto repair business with equipment and inventory included.
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      5,411 SF

      Downtown Lake Worth Commercial Building

      Freestanding commercial building in the heart of Downtown Lake Worth.
      202 N Federal Hwy, Lake Worth, FL 33460
      View Details
    • $620,000
      2,226 SF

      Mixed-Use Property in Lake Worth

      Mixed-use property with retail space and a single-family home.
      922 S Dixie Hwy, Lake Worth, FL 33460
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,400 SF

      Retail Space in Lake Worth

      Retail spaces available in renovated Lake Worth shopping center.
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      Downtown Lake Worth Beach Suites

      Retail and office suites for rent in downtown Lake Worth.
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      Lake Worth Retail/Office Space

      1,700 SF retail/office space with roll-up doors in Lake Worth.
      327 N Dixie Hwy, Lake Worth, FL 33460
      View Details
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      Downtown Lake Worth Beach Retail

      5,540 SF retail/office space in downtown Lake Worth Beach.
      815 Lake Ave, Lake Worth, FL 33460
      View Details
    • Contact for pricing

      Stand-Alone Building on Lake Worth

      One-story building on a large, fenced lot with parking.
      1744 Lake Worth Rd, Lake Worth, FL 33460
      View Details
    • Contact for pricing

      Renovated Office Suites For Rent

      Completely renovated office suites with utilities and internet included.
      704 Lake Ave, Lake Worth, FL 33460
      View Details
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    Lake Worth, FL 33460-3754
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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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