836-850 Park Ave 7,200 SF 100% Leased Retail Building Lake Park, FL 33403 $1,350,000 ($187.50/SF) 4.96% Cap Rate

BELOW MARKET RENTS
In-place rents are well below current market rates for comparable inline retail in the
Palm Beach MSA. Four lease expirations within 12 months of acquisition provide
immediate opportunity to reset rents to market.
GROUND ZERO FOR LAKE PARK’S DOWNTOWN REDEVELOPMENT
Park Ave Shoppes sits at the center of the Park Avenue Downtown District (PADD),
where Lake Park has rezoned for high-density mixed-use. The corridor is undergoing
significant private investment activity driven by the Town’s planning initiatives.
$1 BILLION+ IN NEW DEVELOPMENT WITHIN WALKING DISTANCE
Nautilus 220 — the largest condo-anchored mixed-use project in Palm Beach
County — has opened, delivering 330 luxury waterfront condos, 22,600 SF of retail,
and 13,000 SF of office space within blocks of the property. Units are priced from
$600K to over $4M.
595-UNIT MIXED-USE TOWER APPROVED AT PARK & 10TH
The Residences at 10th & Park received unanimous approval from Lake Park’s
Planning & Zoning Board on June 13, 2024 — a 16-story, 595-unit mixed-use tower
at the corner of 10th Street and Park Avenue, currently in development.
PROPOSED TRI-RAIL COASTAL LINK STATION — PARK AVENUE
A Tri-Rail Coastal Link station is planned for Old Dixie Highway and Park Avenue
in Lake Park, which would provide direct rail access to West Palm Beach, Fort
Lauderdale, and Miami.
LOCATION — BETWEEN PALM BEACH AND JUPITER
Lake Park is situated between North Palm Beach and Riviera Beach, with limited
available retail land and minimal new retail supply in the immediate trade area.
FIRST TIME ON THE MARKET SINCE 1962
The property has been under single-family ownership for over 60 years and is being
offered for the first time, fully occupied.
FOUR LEASES EXPIRING WITHIN 12 MONTHS OF ACQUISITION
Four of the eight suites have lease expirations within 12 months of acquisition,
providing near-term optionality to reset rents to current market rates.