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3677 23rd Ave S - Marlin Commerce Center 4,400 SF Flex Condo Units Offered at $1,539,000 - $1,560,000 Per Unit in Lake Worth Beach, FL 33461
INVESTMENT HIGHLIGHTS
- 21st Century, storm-ready flex space
- Near I95, PBIA and everywhere!
- Offices and restrooms already built
EXECUTIVE SUMMARY
21st Century Light industrial condos near I95 in Lake Worth Beach. 21st century concrete construction with impact-resistant glass doors and windows, and offices and restrooms already built. Two oversized and wind-tested overhead doors. Perfect for contractor, distributor, ecommerce, distribution, warehousing and storage. 24-hour advance notice needed. Call Chris or BarbaraJayne for appointment.
PROPERTY FACTS
AMENITIES
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Air Conditioning
- Smoke Detector
UTILITIES
- Lighting
- Water - City
- Sewer - City
2 UNITS AVAILABLE
Unit B103-104
| Unit Size | 4,400 SF | Sale Type | Investment or Owner User |
| Price | $1,539,000 | No. Parking Spaces | 10 |
| Price Per SF | $349.77 | APN/Parcel ID | 38-43-44-20-28-002-1030 |
| Condo Use | Flex |
| Unit Size | 4,400 SF |
| Price | $1,539,000 |
| Price Per SF | $349.77 |
| Condo Use | Flex |
| Sale Type | Investment or Owner User |
| No. Parking Spaces | 10 |
| APN/Parcel ID | 38-43-44-20-28-002-1030 |
DESCRIPTION
Two light industrial flex units - can be sold separately for $780,000 each. Both units are being sold vacant. Each unit already has offices and restroom built so no construction delays here! All concrete exterior walls, impact-resistant glass windows and doors, and wind-tested overhead doors make for a storm-ready business location. The park-like setting is fully fenced and gated. Call Chris or BarbaraJayne to see them with 24-hour advance notice.
SALE NOTES
Tenant in place currently with 30-day move-out provision. Units are being sold vacant and ready for the new owner to occupy as of Closing.
Marlin B103 floor plate
Marlin grade level interior
Marlin warehouse interior 1
Unit B107
| Unit Size | 4,400 SF | Cap Rate | 5.05% |
| Price | $1,560,000 | NOI | $78,800 |
| Price Per SF | $354.55 | No. Parking Spaces | 10 |
| Condo Use | Flex | Sale Conditions | 1031 Exchange, Sale Leaseback |
| Sale Type | Investment | APN/Parcel ID | 38-43-44-20-28-002-1070 |
| Unit Size | 4,400 SF |
| Price | $1,560,000 |
| Price Per SF | $354.55 |
| Condo Use | Flex |
| Sale Type | Investment |
| Cap Rate | 5.05% |
| NOI | $78,800 |
| No. Parking Spaces | 10 |
| Sale Conditions | 1031 Exchange, Sale Leaseback |
| APN/Parcel ID | 38-43-44-20-28-002-1070 |
DESCRIPTION
4400 SF light industrial flex space investment - perfect for investor or 1031 Buyer. The condo association takes acre of all exterior maintenance and the Tenant takes care of the interior maintenance.
This is a Sale Leaseback opportunity with a well-established pharma company. They have a 5-year Lease, with built-in rent increases each year, and two 5-year options, so long-term income is assured. Initial cash-on-cash return is just over 5%.
SALE NOTES
2025 rental income is $116,400. 2025 expenses include condo fees of $15,600 and real estate taxes of $16,200. Factoring in a 5% contingency for possible expenses, the cash-on-cash return is just over 5%.
MAJOR TENANT INFORMATION
| TENANT | SF OCCUPIED | LEASE END DATE |
|---|---|---|
| Capzer Pharma |
4,400 SF
|
October 2030
|
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3677 23rd Ave S - Marlin Commerce Center
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