For Sale
$3,995,000

409 Lake AveLake Worth, FL 33460

Prime Lake Worth retail center, high occupancy.

Overview

Added:
Dec 11, 2024
Days on market:
114
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
409 Lake Ave, Lake Worth, Florida

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409 Lake Ave
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