8087 Palomino DrWellington, FL 33467

Property Details for 8087 Palomino Dr

Year built

1983

Construction

STEEL FRAME

Lot size

4.38 AC

Property size (Sq ft)

6,000 SF

Zone code

AR

Property type

Showrooms

APN

00-42-43-27-05-024-0151

APU

424327050240151

Description

This 6.335-acre agricultural property in Wellington, Florida, is ideally situated between Lake Worth Road and Forest Hill Boulevard, offering convenient access to the Florida Turnpike. Currently zoned AR-Agricultural Residential, it features 5,559 square feet of warehouse storage and 441 square feet of office space, built in 1993. The property boasts 301 feet of frontage on Palomino Drive and is fully fenced with existing paving and asphalt. Currently operating as a successful agricultural nursery and landscaping business, this land presents an immediate income-producing opportunity for an owner-user, with potential for subleasing. Its prime location makes it suitable for continued agricultural use, or redevelopment into single-family residential properties. The property offers excellent accessibility via Arrowhead Drive and Crockett Way (north) and Palomino Drive (south). The seller is open to owner financing with a 50% down payment, interest-only monthly payments, and a balloon payment due 36 months post-closing. The surrounding area shows strong growth potential, with a median household income of $64,331 within one mile and an estimated population growth of 1.60% over the next few years. The property is located in Palm Beach County, near the coastal city of Lake Worth Beach.

• CAP approach

  CAP return

  Valuation

  6%

  $2,711,516

  6.5%

  $2,502,937

  7%

  $2,324,156

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,206,082

  Geo Method

  $4,206,082

• Alternative Use

  Use

  Valuation

  Residential

  $2,111,321

  Hospitality

  $1,933,959

  Educational

  $1,609,031

  Medical

  $1,664,368

  Retail

  $2,502,937

Location Insight

City

Lake Worth

County

Palm Beach

State

Florida

Latitude

26.6294

Longitude

-80.1757

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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