700 Park AveLake Park, FL 33403

Property Details for 700 Park Ave

Year built

1962

Construction

CONCRETE

Lot size

1.22 AC

Property size (Sq ft)

23,760 SF

Zone code

PADD

Property type

Retail properties

Property subtype

Strip malls

APN

36-43-42-20-01-010-0010

APU

36434220010100010

Description

This exceptional retail opportunity in Lake Park, Florida, presents multiple spaces within a vibrant plaza at 700 Park Ave. The property, built in 1962, encompasses 23,760 square feet on 1.22 acres and features two stories. Available spaces range from 325 to 9,000 square feet, catering to diverse business needs. The plaza benefits from high visibility and significant foot traffic, enhanced by its location amidst established businesses and ample parking. The area boasts a strong demographic profile, with an average household income exceeding $105,000 within a three-mile radius and over 85,000 residents within the same area. Daily traffic surpasses 6,000 vehicles. Nearby developments, including a new luxury condo complex and a new apartment complex, further enhance the property's appeal and potential for growth. A proposed large residential project will add to the already substantial residential population surrounding the plaza. The property's Palm Beach County location (APN: 36-43-42-20-01-010-0010, Zip Code: 33403) offers easy access and strong market presence. This is an ideal location for businesses seeking high visibility and a thriving customer base.

• CAP approach

  CAP return

  Valuation

  6%

  $12,336,623

  6.5%

  $11,387,652

  7%

  $10,574,248

• Comparable approach

  Method

  Valuation

  Relative Method

  $16,656,083

  Geo Method

  $16,656,083

• Alternative Use

  Use

  Valuation

  Residential

  $9,605,911

  Hospitality

  $8,798,962

  Educational

  $7,320,634

  Medical

  $7,572,402

  Retail

  $11,387,652

Location Insight

City

Lake Park

County

Palm Beach

State

Florida

Latitude

26.7984

Longitude

-80.0672

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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