This exceptional 10,799 square foot, single-story medical office building in Lake Worth, Florida, presents a compelling investment opportunity. Built in 2015, the property boasts a 100% occupancy rate with six tenants, including Heartland Dental, under NNN leases featuring annual rent bumps and corporate guarantees. The property features a synergistic tenant mix, with over 87% medical users. Situated on a highly visible, signalized intersection of Lantana Road and Hagen Ranch Road, experiencing over 42,000 vehicles daily, the location ensures high visibility and accessibility. The building sits on a two-acre lot with ample parking (65 spaces, or 5.95 spaces per 1,000 square feet). The property offers a strong 5.72% cap rate with a Net Operating Income (NOI) of $326,099 and an asking price of $5,700,000 ($527.83 per square foot). The property is zoned CLO Limited Office Commercial and is offered fee simple. Average household income within a one-mile radius exceeds $122,000. This stabilized, net lease investment is ideal for a 1031 exchange. The property's features include a strong tenant base, excellent location, and significant upside potential.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$3,372,214
6.5%
$3,112,813
7%
$2,890,469
Comparable approach
Method
Valuation
Relative Method
$2,925,954
Geo Method
$2,925,954
Alternative Use
Use
Valuation
Residential
$3,859,888
Hospitality
$3,535,636
Educational
$2,941,608
Medical
$3,042,774
Retail
$4,575,834
Location Insight
City
Lake Worth
County
Palm Beach
State
Florida
Latitude
26.5893
Longitude
-80.1588
CBSA code
33100
CBSA name
MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
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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.
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