3141 Military TrlLake Worth, FL 33463

Property Details for 3141 Military Trl

Year built

1983

Construction

CONCRETE

Lot size

0.54 AC

Property size (Sq ft)

8,320 SF

Zone code

UI

Property type

Office properties

Property subtype

Office buildings

APN

00-42-44-24-01-000-0200

APU

424424010000200

Description

This exceptional investment opportunity presents a well-maintained, two-story Class B office complex located at 3141 S Military Trail in Lake Worth, Florida. The property, built in 1983 and renovated in 2000, encompasses 8,830 square feet across one building and offers 23 individual office suites. Currently, 22 of the 23 units are occupied, demonstrating strong tenant demand and a high occupancy rate. The property features ample parking with 27 spaces available for tenants and guests. The lease structure is a gross lease, simplifying management and providing predictable income streams. The building is situated on a lot with no recorded square footage. The asking price for this turnkey investment is $1,900,000. Annual rent bumps are set at 4%, ensuring consistent growth in rental income. This property presents a rare opportunity to acquire a stable, high-occupancy office complex in a desirable location within Palm Beach County, Florida, with a zip code of 33463. The property's strong performance and potential for future appreciation make it an attractive addition to any investment portfolio. The property is classified as Special Purpose.

• CAP approach

  CAP return

  Valuation

  6%

  $2,218,734

  6.5%

  $2,048,063

  7%

  $1,901,772

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,297,879

  Geo Method

  $2,297,879

• Alternative Use

  Use

  Valuation

  Residential

  $2,539,598

  Hospitality

  $2,326,258

  Educational

  $1,935,419

  Medical

  $2,001,981

  Retail

  $3,010,652

Location Insight

City

Lake Worth

County

Palm Beach

State

Florida

Latitude

26.6312

Longitude

-80.1135

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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