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    903 Park Ave Lake Park, FL 33403-2403
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    Property profile & analytics

    903 Park Ave, Lake Park, FL 33403-2403

    View on Map
    • Grocery and convenience stores
    • 2,634 SF
    • 0.33 lot acres
    Off-Market
    Property ID
    US18-0949729
    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
    $660,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 903 Park Ave

    Year built
    1958
    Construction
    WOOD
    Lot size
    0.33 lot acres
    Zone code
    PADD
    Property type
    Grocery and convenience stores
    APN
    36-43-42-20-01-003-0430
    APU
    36434220010030430

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 26, 2002 $275,900 Hope Investment Enterprises Lake Park Town (fl) Grant Deed $235k · Temecula Valley Bank NA
    — — Hope Investment Ents INC — Deed Of Trust · related $100k · Wachovia Bank NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $710,000
      6.5%
      $655,000
      7%
      $610,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $775,000
      Current use
      RETAIL STORES
      $1,095,000
      Change: +41% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,025,000
      Change: +32% Conversion: Easy
      OFFICE BUILDING
      $930,000
      Change: +20% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Park
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0708
    Latitude
    26.7991
    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
    $15,716
    $231,024
    $373,767
    $604,791
    -
    $231,024
    $373,767
    $604,791

    Comparable in this City

    • Value Estimation
      $700,000
      2,787 SF

      9377 Hwy 1st Alt

      CONVENIENCE STORE
      9377 Hwy 1st Alt, West Palm Beach, FL 33403-1438
      View Details
    • Value Estimation
      $555,000
      2,736 SF

      2915 Northlake Blvd

      CONVENIENCE STORE
      2915 Northlake Blvd, West Palm Beach, FL 33403-1909
      View Details
    • Value Estimation
      $2,600,000
      16,934 SF

      220 Congress Ave

      GROCERY, SUPERMARKET
      220 Congress Ave, Lake Park, FL 33403-3807
      View Details
    • Value Estimation by Request
      1,764 SF

      140 Us Hwy 1st 1

      CONVENIENCE STORE
      140 Us Hwy 1st 1, Lake Park, FL 33403-3550
      View Details
    • Value Estimation
      $1,250,000
      5,980 SF

      200 Congress Ave

      CONVENIENCE STORE
      200 Congress Ave, Lake Park, FL 33403-3807
      View Details
    • Value Estimation by Request
      1,776 SF

      3905 Northlake Blvd

      CONVENIENCE STORE
      3905 Northlake Blvd, Palm Beach Gardens, FL 33403-1504
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Downtown Retail Storefront

      For-sale retail storefront positioned in Lake Park’s downtown district near free public parking.
      810 Park Ave, Lake Park, FL 33403
      View Details
    • $1,400,000
      6,624 SF

      Versatile Mixed-Use Commercial Asset

      Commercial building in Lake Park, adaptable to a wide range of uses.
      359 10Th St, Lake Park, FL 33403
      View Details
    • Contact for pricing

      Prime Palm Beach Gardens Land

      15,000 SF development opportunity.
      100 Gander Way, Palm Beach Gardens, FL 33403
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,030 SF

      Retail Space Near I-95 Interchange

      Retail space in a dense, growing trade area.
      3950 Northlake Blvd, Palm Beach Gardens, FL 33403
      View Details
    • Contact for pricing

      Lake Park Innovation Center Units

      Modern units for small businesses in a growing area.
      230 N Congress Ave, Lake Park, FL 33403
      View Details
    • $0.03 SF/Yr
      8,931 SF

      Prime Retail Space, Lake Park

      8,900 SF Retail, 32 Parking Spaces
      810 Park Ave, Lake Park, FL 33403
      View Details
    • Contact for pricing

      Retail Space in Lake Park

      Neighborhood shopping center with strong tenants and high visibility.
      1220 Northlake Blvd, Lake Park, FL 33403
      View Details
    • $5,000 /Mo
      15,464 SF

      Lake Park Retail Space Available

      Versatile commercial space for lease in Lake Park, Florida.
      359 10Th St, Lake Park, FL 33403
      View Details
    • $2,600 /Mo

      Retail/Office Space Near I-95

      Versatile 714 SF retail/office space with high visibility.
      230 N Congress Ave, Lake Park, FL 33403
      View Details
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    903 Park Ave
    Lake Park, FL 33403-2403
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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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