Lake Worth Small Bay 518 N G St
25,800 SF 100% Leased Industrial Building Lake Worth Beach, FL 33460 £4,939,520 (£191.45/SF) 6.53% Net Initial Yield
INVESTMENT HIGHLIGHTS
- -36-Unit Multi-Tenant Portfolio: 100% Occupied Diverse Tenant Mix Consistent Cash-Flowing Investment
- -New Hurricane Windows and Hurricane Doors
- -Recently Upgraded Electric and Plumbing in 2023/2024
- -5 Separate Parcels: 1.51 Acres 3 Improved Parcels with 5 Buildings 2 Leased Lots for IOS or Add'l Parking LHTI/IA Light Industrial Zoning Future Deve
EXECUTIVE SUMMARY
Lee & Associates, as exclusive advisor, is pleased to present for sale Lake Worth Small Bay, a ±25,800-square-foot small-bay
industrial warehouse assemblage situated on 1.51 acres at 518-604 N G St, Lake Worth Beach, Florida. Originally built in 1955,
the property received substantial upgrades in 2023, including hurricane-proof windows and new electrical and plumbing
systems, enhancing both durability and tenant satisfaction.
The asset comprises 36 individual warehouse units ranging from 387 to 1,800 square feet. and two leased IOS land parcels.
Currently at 100% occupancy with leases below market rates, Lake Worth Small Bay offers an ideal small-bay configuration th
supports higher rental rates and increased demand from local tenants. The property’s short-term leases provide flexibility
adjust rates over shorter periods, capitalizing on the area’s rental growth potential. With a broad range of allowable uses under
the current zoning, these spaces are ideally suited for light industrial and storage tenants. Rising demand for this type of space
positions a new owner to capture further upside as leases turnover. Historically maintaining full occupancy, this well-maintained
property delivers stable cash flow with potential for rental growth in a low-vacancy, high-demand market
Located in the thriving Lake Worth East Submarket, this property benefits from easy access to major transportation hubs a
highways. The assemblage is a mere 4-minute drive from the Lake Worth Tri-Rail station and just 13 minutes from Palm Beach
International Airport. The surrounding area boasts a walkable community with nearby amenities and a strong industrial
presence, making this an attractive option for investors and owner-users alike.
industrial warehouse assemblage situated on 1.51 acres at 518-604 N G St, Lake Worth Beach, Florida. Originally built in 1955,
the property received substantial upgrades in 2023, including hurricane-proof windows and new electrical and plumbing
systems, enhancing both durability and tenant satisfaction.
The asset comprises 36 individual warehouse units ranging from 387 to 1,800 square feet. and two leased IOS land parcels.
Currently at 100% occupancy with leases below market rates, Lake Worth Small Bay offers an ideal small-bay configuration th
supports higher rental rates and increased demand from local tenants. The property’s short-term leases provide flexibility
adjust rates over shorter periods, capitalizing on the area’s rental growth potential. With a broad range of allowable uses under
the current zoning, these spaces are ideally suited for light industrial and storage tenants. Rising demand for this type of space
positions a new owner to capture further upside as leases turnover. Historically maintaining full occupancy, this well-maintained
property delivers stable cash flow with potential for rental growth in a low-vacancy, high-demand market
Located in the thriving Lake Worth East Submarket, this property benefits from easy access to major transportation hubs a
highways. The assemblage is a mere 4-minute drive from the Lake Worth Tri-Rail station and just 13 minutes from Palm Beach
International Airport. The surrounding area boasts a walkable community with nearby amenities and a strong industrial
presence, making this an attractive option for investors and owner-users alike.
PROPERTY FACTS
| Price | £4,939,520 |
| Price Per SF | £191.45 |
| Sale Type | Investment |
| Net Initial Yield | 6.53% |
| Sale Condition | 1031 Exchange |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 1.51 AC |
| Rentable Building Area | 25,800 SF |
| Number of Floors | 1 |
| Year Built/Renovated | 1970/2023 |
| Clear Ceiling Height | 14 ft |
1 of 1
Walk Score®
Very Walkable (75)
Bike Score®
Very Bikeable (83)
PROPERTY TAXES
| Parcel Number | 38-43-44-21-15-146-0090 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £590,016 |
ZONING
| Zoning Code | LI (Light Industrial) |
