Contacts

Harrison Auerbach

Matthews Real Estate Investment Services

Tony Anthony

Matthews Real Estate Investment Services

Property Details

Property Type Industrial
Property Size 22,763 SF
Lot Size 1.97 Acre
Additional Rent Contact for pricing
Building Class B
Year Built 1954
Date Updated Mar 19, 2024

Irreplaceable Location – Positioned strategically in the Lake Worth submarket, which has experienced some of the highest rental growth year-over-year in the entire county. The continued increase is due to consistent demand from smaller to midsized tenants seeking available space in the corridor. Located in Lake Worth’s Industrial Park of Commerce right off I-95 with direct adjacency to 10th Ave N and only 6 miles from Palm Beach International Airport.

Owner/User Opportunity – With very limited availability of vacant industrial space below 25,000 sf, this opportunity will fit the needs of countless different users. The property has a healthy blend of significant open warehouse space as well as office space.

Affluent Area – Average household income nearing $80,000 in a 5-mile radius with population estimates of over 250,000 people. These extremely positive demographics are strongly influenced by location, increased rental growth, and declining vacancy rates.

Submarket Fundamentals – With little industrial development or supply over the past 18 months, landlords have been able to push rental rates much higher than the metro average as the market becomes tighter. Industrial vacancies in the submarket are hovering near all-time lows, as tenants continue to have difficulty finding available facilities.

Well-Below Replacement Cost – With the price being $3,518,000 ($154.55/SF) for over 22,700-SF of vacant industrial, this deal is priced well below its replacement cost. The strong quality of the building, coupled with a price point that’s lower than anything currently on the market for something this size, makes it a great opportunity for any Owner/User or Investor looking to expand their portfolio.

USES

Light Manufacturing Zoning Use

Warehousing

Distribution Service

Last Mile Logistics

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Getting around

49/100
Walk Score ®
34/100
Bike Score ®

Powered by Walk Score ®

City Lake Worth, FL
Neighborhood Tropical Ridge
Zip Code 33461
Market West Palm Beach Boca Raton

Points of Interest

West Palm Beach

5.91 miles

7 Eleven

0.14 miles
Valero

0.71 miles
Sunoco

0.73 miles
Chevron

1.28 miles
Orion Fuels

1.30 miles
M&T Food Mart

1.30 miles
Marathon

1.80 miles
Citro

1.89 miles
Tesla Supercharger

6.56 miles
FPL EVolution

6.94 miles

Wayne's Wash World

1.97 miles
National

4.22 miles
Dollar

4.32 miles
Enterprise

4.47 miles
Budget

4.52 miles
Payless

4.52 miles
Hertz

4.69 miles
Thrifty

4.69 miles
dollar.

4.69 miles
Car Wash

6.81 miles

Dunkin'

0.24 miles
Wendy's

0.67 miles
Casa Linda's

0.72 miles
Bizaare Avenue Cafe

1.04 miles
International Cafe of Palm Beach

1.10 miles
Victoria's Peruvian Restaurant

1.10 miles
Hachi Asian Cuisine & Grill

1.11 miles
Bamboo Room

1.15 miles
Callaro's Steak House

1.15 miles
Suri

1.16 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

1800 Madrid Avenue