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Worth Plaza 5301-5323 Lake Worth Rd 14,600 SF 100% Leased Retail Building Lake Worth, FL 33463 $4,300,000 ($294.52/SF)
EXECUTIVE SUMMARY
Ideal Value Add Center
- Below Market Rents, Short Term Leases, No Cap Ex Needed
- 73% of GLA Expires 2026
- 27% of GLA Expires in 2027
Excellent Location
- Eastbound & Westbound Access on Lake Worth Road which sees 44.5k+ VPD
- Between Military Road (39k+ VPD) & Jog Road (50k+ VPD)
- High-Visibility Monument Signage
Exceptionally Maintained
- New Roof, New HVACs, Recent Parking Lot Maintenance,
Security, and Generator 100% Occupied
- 7 Tenants Across 12 Units
- Essential Services, Specialty Daycare, and Medical Spaces
Built-in Upside
- Below Market Rents
- Short Term WALT of less than 1 Year
- 3%-5% annual Increases
Above Average Parking Ratio
- 80 Spaces - 5.3 / 1,000 RSF
- Below Market Rents, Short Term Leases, No Cap Ex Needed
- 73% of GLA Expires 2026
- 27% of GLA Expires in 2027
Excellent Location
- Eastbound & Westbound Access on Lake Worth Road which sees 44.5k+ VPD
- Between Military Road (39k+ VPD) & Jog Road (50k+ VPD)
- High-Visibility Monument Signage
Exceptionally Maintained
- New Roof, New HVACs, Recent Parking Lot Maintenance,
Security, and Generator 100% Occupied
- 7 Tenants Across 12 Units
- Essential Services, Specialty Daycare, and Medical Spaces
Built-in Upside
- Below Market Rents
- Short Term WALT of less than 1 Year
- 3%-5% annual Increases
Above Average Parking Ratio
- 80 Spaces - 5.3 / 1,000 RSF
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,600 SF
Building Class
C
Year Built
1984
Price
$4,300,000
Price Per SF
$294.52
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.26
Lot Size
1.28 AC
Zoning
CG, Lake Worth - General Commercial
Parking
98 Spaces (6.71 Spaces per 1,000 SF Leased)
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Adriana Zabala
- -
- -
- -
- -
- -
- Docride Tech
- -
- -
- -
- -
- -
- Essential Pub
- -
- -
- -
- Triple Net
- Nov 2023
- Halo
- Services
- -
- -
- Triple Net
- Feb 2024
-
- Real Estate
- -
- -
- -
- -
Highlight Realty is a Top 50 ranked Florida brokerage. Contact them for the latest advice and tips on buying and selling property.
- Jack Watlington, Pa
- Real Estate
- -
- -
- -
- -
- Majestic Aesthetics Llc
- Services
- -
- -
- -
- -
- National Mailing Center of America, Inc.
- Professional, Scientific, and Technical Services
- -
- -
- -
- -
- Palm Beach Realty Network
- Real Estate
- -
- -
- -
- -
- Super Tech
- Services
- -
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Adriana Zabala | - | - | - | - | - | |
| Docride Tech | - | - | - | - | - | |
| Essential Pub | - | - | - | Triple Net | Nov 2023 | |
| Halo | Services | - | - | Triple Net | Feb 2024 | |
|
|
Real Estate | - | - | - | - | |
| Jack Watlington, Pa | Real Estate | - | - | - | - | |
| Majestic Aesthetics Llc | Services | - | - | - | - | |
| National Mailing Center of America, Inc. | Professional, Scientific, and Technical Services | - | - | - | - | |
| Palm Beach Realty Network | Real Estate | - | - | - | - | |
| Super Tech | Services | - | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 18-42-44-23-00-000-5090 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,629,275 |
PROPERTY TAXES
Parcel Number
18-42-44-23-00-000-5090
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,629,275
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Worth Plaza | 5301-5323 Lake Worth Rd
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