7049 Lk Worth RdGreenacres, FL 33467

Property Details for 7049 Lk Worth Rd

Year built

1972

Construction

CONCRETE

Lot size

0.75 AC

Property size (Sq ft)

2,200 SF

Zone code

CG

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

00-42-43-27-05-023-1271

APU

424327050231271

Description

This exceptional 1.67-acre commercial land parcel, located at 7049 Lake Worth Road in Lake Worth Beach, Florida (33467), presents a unique investment opportunity. Priced at $4,000,000, this property boasts a highly desirable corner location with over 50,000 vehicles passing daily, ensuring excellent visibility and accessibility. The zoning is commercial, allowing for a variety of development possibilities. The property currently features a 2400 square foot building that has been completely gutted and is ready for immediate build-out, saving significant time and costs. Its strategic location is surrounded by condominiums, townhouses, and single-family homes, indicating a strong residential base. Furthermore, the property's proximity to five golf courses within three miles and its location just one mile from the Florida Turnpike provides unparalleled convenience and accessibility. This is a rare opportunity to acquire a hard corner lot in the booming Lake Worth market

• CAP approach

  CAP return

  Valuation

  6%

  $994,222

  6.5%

  $917,744

  7%

  $852,191

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,542,230

  Geo Method

  $1,542,230

• Alternative Use

  Use

  Valuation

  Residential

  $774,151

  Hospitality

  $709,118

  Educational

  $589,978

  Medical

  $610,268

  Retail

  $917,744

Location Insight

City

Lake Worth

County

Palm Beach

State

Florida

Latitude

26.618

Longitude

-80.1579

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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