1422 Lucerne AveLake Worth Beach, FL 33460

This exceptional mixed-use property in Lake Worth Beach, Florida, presents a compelling investment opportunity. Located at 1422 Lucerne Avenue, this 0.31-acre corner lot boasts MU-E zoning, allowing for diverse commercial and residential applications. The property currently features two buildings: an 800 sq ft free-standing commercial building and a 1700 sq ft single-family home, both constructed of concrete block. Both buildings are currently leased, generating a combined monthly income of $5700. The property's 2,458 total square feet offers significant potential for redevelopment. The maximum base density allows for eight residential units, while leveraging city programs could increase density to accommodate up to 22 units. This vibrant district is experiencing growth, with a thriving arts scene and numerous mixed-use developments underway. Potential uses include, but are not limited to, residential, office, retail, showroom, bakery, art studios, restaurant, and personal services. The asking price is $1,600,000. The property is situated in Palm Beach County, Florida, zip code 33460. Built in 1950, this property offers a unique blend of existing income and substantial future development potential. This is an ideal opportunity for investors seeking a high-return property in a rapidly developing area.