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3677 23rd Ave S - Marlin Commerce Center 2,200 - 4,400 SF Flex Condo Units Offered at $735,000 - $1,500,000 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.
2 Units Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Sale Conditions | 1031 Exchange, Sale Leaseback |
| Cap Rate | 5.25% | APN/Parcel ID | 38-43-44-20-28-002-1070 |
| No. Parking Spaces | 10 |
| Sale Type | Investment |
| Cap Rate | 5.25% |
| 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%.
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%.
| Sale Type | Owner User | No. Parking Spaces | 4 |
| Sale Status | Under Contract | APN/Parcel ID | 38-43-44-20-28-003-1070 |
| Sale Type | Owner User |
| Sale Status | Under Contract |
| No. Parking Spaces | 4 |
| APN/Parcel ID | 38-43-44-20-28-003-1070 |
Description
Prime Marlin Commerce Center unit - 2200 SF with 1600 SF at grade level with one office, one restroom, and wide open flex PLUS 600 SF with 2 offices in the mezzanine. 21st Century construction with impact resistant glass doors and windows, concrete exterior walls and wind-tested overhead doors. Established fully fenced and gated business park close to I95 access, in a beautiful park-like setting.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit B107 | 4,400 SF | Flex | $1,500,000 ($340.91/SF) | $78,800 |
| Unit C107 | 2,200 SF | Flex | $735,000 ($334.09/SF) | - |
Unit B107
| Unit Size |
| 4,400 SF |
| Condo Use |
| Flex |
| Price |
| $1,500,000 ($340.91/SF) |
| NOI |
| $78,800 |
Unit C107
| Unit Size |
| 2,200 SF |
| Condo Use |
| Flex |
| Price |
| $735,000 ($334.09/SF) |
| NOI |
| - |
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Unit B107
| Unit Size | 4,400 SF |
| Condo Use | Flex |
| Price | $1,500,000 ($340.91/SF) |
| NOI | $78,800 |
| Sale Type | Investment |
| Cap Rate | 5.25% |
| 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.<br> 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%.</li></ul> | |
| 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%.</li></ul> |
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Unit C107
| Unit Size | 2,200 SF |
| Condo Use | Flex |
| Price | $735,000 ($334.09/SF) |
| NOI | - |
| Sale Type | Owner User |
| Sale Status | Under Contract |
| No. Parking Spaces | 4 |
| APN/Parcel ID | 38-43-44-20-28-003-1070 |
| Description | |
| Prime Marlin Commerce Center unit - 2200 SF with 1600 SF at grade level with one office, one restroom, and wide open flex PLUS 600 SF with 2 offices in the mezzanine. 21st Century construction with impact resistant glass doors and windows, concrete exterior walls and wind-tested overhead doors. Established fully fenced and gated business park close to I95 access, in a beautiful park-like setting.</li></ul> |
Property Facts
The following property facts, amenities, and utilities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
Amenities
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Air Conditioning
- Smoke Detector
Utilities
- Lighting
- Water - City
- Sewer - City
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
20/100
Moderately bikeable
60/100
Major Tenant Information
| TENANT | SF Occupied | LEASE END DATE |
|---|---|---|
| Capzer Pharma |
4,400 SF
|
October 2030
|
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Contact the Sale Advisor
3677 23rd Ave S - Marlin Commerce Center