801 Lake Ave
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801 Lake Ave
5,400 SF 100% Leased Retail Building Lake Worth, FL 33460 £1,486,655 (£275/SF) 3.16% Net Initial Yield
Investment Highlights
- The property has a combined 134 feet of frontage on Lake Avenue and J street
- The first floor is leased to two tenants
Executive Summary
Since the 1920's the property has anchored the intersection of Lake Ave and J Street within the pedestrian friendly Old Town Historic District. The downtown is primarily dining, nightlife, retail. The Lake Worth Playhouse across the street draws strong crowds. The property has a combined 134 feet of frontage on Lake Avenue and J street. Lovingly restored by the present owner in 2017. The building won the historic preservation award from the city in 2018. The first floor is leased to two tenants. With combined monthly rent of $5000.00. The second floor is a shell as you can see by the photos. The downtown zoning will allow many options for buildout, residential and or commercial use. The building does have a front and back staircase.
Financial Summary (Actual - 2022) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,400 SF
Building Class
B
Year Built/Renovated
1923/2017
Price
£1,486,655
Price Per SF
£275
Net Initial Yield
3.16%
NOI
£46,947
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
0.69
Lot Size
0.18 AC
Zoning
DT - Downtown Zoning
Parking
10 Spaces per 1,000 SF Leased
Frontage
Amenities
- Tenant Controlled HVAC
- Air Conditioning
Walk Score ®
Walker's Paradise (94)
Bike Score ®
Biker's Paradise (90)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 38-43-44-21-15-017-0212 | Total Assessment | £530,798 (2023) |
| Land Assessment | £141,577 (2023) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £389,222 (2023) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
38-43-44-21-15-017-0212
Land Assessment
£141,577 (2023)
Improvements Assessment
£389,222 (2023)
Total Assessment
£530,798 (2023)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2022
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801 Lake Ave
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