Bought with Coastal Classic Realty
$600,000
$799,000
24.9%For more information regarding the value of a property, please contact us for a free consultation.
1 Bath
2,875 SqFt
SOLD DATE : 04/15/2022
Key Details
Sold Price $600,000
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
Square Footage 2,875 sqft
Price per Sqft $208
Subdivision Lake Worth Town Of Lt 1 Blk 149
MLS Listing ID RX-10776489
Sold Date 04/15/22
Construction Status Resale
Abv Grd Liv Area 16
Year Built 1959
Annual Tax Amount $4,882
Tax Year 2021
Lot Size 3,484 Sqft
Property Description
Investment opportunity await you on S H Street in Lake Worth. This is a 6 unit, flex-space property. Each unit is approx 500 sf, 11 ft ceiling, Each unit has an OH doors (10x10). The building has 1 common bathroom. The property is in the A/I / Light industrial zoning. The property is leased out with room for a rent increase (no increases for the past 5 years however, the landlord just raised the rental rate to $500 /month in 2022 but that is still below market value). All leases are currently month to month. 1 unit pays the year upfront with a 10% discount & 1 unit is being used by the owners (current NOI is not including the owners unit) & they would be willing to lease back. The property has low expenses with the pro forma net income over $39,557. Great for Owner/Operator.
Location
State FL
County Palm Beach
Area 5640
Zoning AI(cit
Interior
Heating No Heat
Cooling Exhaust, None
Flooring Concrete
Fireplaces Type None
Exterior
Community Features Presently Leased
Utilities Available Electric, Public Sewer, Public Water
Waterfront No
Waterfront Description None
Roof Type Other,Wood Truss/Raft
Present Use Presently Leased
Building
Foundation Block, CBS
Construction Status Resale
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
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