For Sale
$3,995,000

409 Lake Ave Lake Worth, FL 33460

Prime Lake Worth retail center, high occupancy.

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional investment opportunity presents a 9,778 square foot, Class B shopping center located at 409 Lake Avenue in Lake Worth, Florida, 33460. The property, built in 1957, consists of a single-story building on a 0.434-acre lot (approximately 140' x 135'). Currently operating at 100% occupancy with four units under a NNN lease structure, the center offers a stable income stream with a remaining lease term of two years. The property's strategic location directly across from the town green and City Hall in highly desirable Lake Worth Beach provides excellent visibility and accessibility. Its proximity to the Intracoastal Waterway and I-95 further enhances its appeal. The asking price is $3,995,000, representing a 2.00% cap rate. This value-add investment presents a compelling opportunity for continued income generation from existing tenants or significant redevelopment potential for a mixed-use, multi-story residential building. The property's APN is 38434421150250060. This is a multi-tenant retail property classified as a shopping center and storefront.

Highlights

  • 9,778 SF Class B shopping center in Lake Worth Beach, FL.
  • Located at 409 Lake Avenue, on a 0.434-acre lot.
  • 100% occupied with four NNN-leased units, offering a stable income stream.
  • Two-year remaining lease term.
  • Asking price: $3,995,000, 2.00% cap rate.

Property Details for 409 Lake Ave

Property type
Lifestyle centers, Power centers
Square Feet
9,778 SF
Class
B
Year Built
1957
Buildings
1
Stories
1
Lot Size (sq. ft)
18,905 SF
Units
4

Location Insight

City
Lake Worth
County
Palm Beach
State
Florida
Latitude
26.615805555129
Longitude
-80.053050073716

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FAQs

What type of property is this?
Lifestyle center - Prime Lake Worth retail center, high occupancy.
Where is the lifestyle center located?
The property is located at 409 Lake Ave Lake Worth, FL.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: 9,778 SF Class B shopping center in Lake Worth Beach, FL.; Located at 409 Lake Avenue, on a 0.434-acre lot.; 100% occupied with four NNN-leased units, offering a stable income stream.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
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Contacts

Christopher S. Nicotra
Christopher S. Nicotra
Visit Broker Website

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Lake Ave
Lake Worth, FL 33460

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Lake Ave
Lake Worth, FL 33460

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

409 Lake Ave
  • Christopher S. Nicotra
    Christopher S. Nicotra
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