805 Lk AveLake Worth Beach, FL 33460

Property Details for 805 Lk Ave

Year built

1924

Construction

WOOD

Lot size

0.06 AC

Property size (Sq ft)

1,168 SF

Zone code

DT

Property type

Retail space

APN

38-43-44-21-15-017-0191

APU

38434421150170191

Description

This exceptional 1,168 square foot special purpose property, located at 805 Lake Avenue, presents a unique investment opportunity. Situated in a thriving downtown (DT) zoning area, this completely renovated historic building boasts brand new floors, roof, studs and beams, drywall, electrical, plumbing, and hot water heater. The renovation also includes two brand new bathrooms, updated gutters, and a new air conditioning system. The property benefits from its prime location on Lake Avenue, an area experiencing significant revitalization, characterized by high traffic volume and regular community events. Adding to its appeal are four to five parking spaces, and the proximity to attractive neighboring restaurants and storefronts. Currently occupied by a month-to-month tenant, this property offers flexibility and potential for immediate income generation. The Assessor's Parcel Number (APN) is 38434421150170191. The lot size is not specified. This is a single-tenant property with zero building suites. This is a rare opportunity to acquire a meticulously renovated historic building in a vibrant and growing downtown location.

• CAP approach

  CAP return

  Valuation

  6%

  $342,731

  6.5%

  $316,367

  7%

  $293,770

• Comparable approach

  Method

  Valuation

  Relative Method

  $337,911

  Geo Method

  $337,911

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $616,170

  Mixed-Use / Specialty

  $315,553

  Hospitality / Lodging

  $231,920

  Office

  $314,006

  Institutional / Educational

  $328,161

  Residential Income

  $383,948

  Multifamily

  $458,746

  Automotive / Energy

  $281,281

  Parking / Income-Based Land

  $96,756.30

  Restaurant / Food Service

  $164,792

  Healthcare / Senior Housing

  $323,272

Location Insight

City

Lake Worth

County

Palm Beach

State

Florida

Latitude

26.6156

Longitude

-80.0566

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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