2935 Lk Worth RdLake Worth Beach, FL 33461

Property Details for 2935 Lk Worth Rd

Year built

1981

Construction

WOOD

Lot size

0.28 AC

Property size (Sq ft)

1,250 SF

Zone code

CG

Property type

Office properties

Property subtype

Office buildings

APN

70-43-44-20-02-000-0161

APU

70434420020000161

Description

This exceptional commercial property, located at 2935 Lake Worth Road in Palm Springs, Florida, presents a unique investment opportunity. The 1,250 square foot building, constructed in 1981, is situated on a lot with no recorded square footage. Currently zoned commercial, the property offers significant upside potential. The existing structure is a single-story building, but zoning regulations allow for expansion up to three stories, providing substantial opportunities for future development and increased rental income. The property is currently utilized as a mixed-use space, featuring two bedrooms and one and a half bathrooms, alongside commercial space. This versatile configuration caters to a variety of potential uses, making it an attractive option for both investors and owner-occupiers. The asking price is $1,025,000. The property is owner-occupied, and appointments are required for viewings. Located in the 33461 zip code, this property offers convenient access to Lake Worth Beach's vibrant commercial district. The property's flexibility and prime location make it an ideal investment for those seeking a high-return opportunity in a thriving market. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $346,328

  6.5%

  $319,688

  7%

  $296,853

• Comparable approach

  Method

  Valuation

  Relative Method

  $342,614

  Geo Method

  $342,614

• Alternative Use

  Use

  Valuation

  Residential

  $396,413

  Hospitality

  $363,112

  Educational

  $302,105

  Medical

  $312,495

  Retail

  $469,941

Location Insight

City

Palm Springs

County

Palm Beach

State

Florida

Latitude

26.6178

Longitude

-80.0879

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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