1800 Madrid Ave - Warehouse FOR SALE


Lake Worth, FL 33461
$3,518,000 USD
561-214-4356
1800 Madrid Ave, Lake Worth, FL for Sale
$3,518,000 USD
Warehouse - FOR SALE
1/3
null | Request Cap Rate

1800 Madrid Ave
Lake Worth, FL 33461


HIGHLIGHTS

  • 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.
  • 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.
  • 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.
  • Average household income nearing $80,000 in a 5-mile radius with population estimates of over 250,000 people.

OVERVIEW

One Building available for sale at $154.55 per square foot. 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.

FOR SALE DETAILS

PRICE

$3,518,000 USD

PRICE/SF

$93 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1954

UTILITIES

Water - City, Sewer - City

CLEAR CEILING HT

14.5 Ft

DOCKS

-

DRIVE INS

11

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.8

LAND SF

34,848

ZONING

I-POC

APN/PARCEL ID

38-43-44-21-04-002-0011

ASK ABOUT THIS PROPERTY

Tony AnthonyMatthews Real Estate Investment ServicesMore Info
561-214-4356

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Tony AnthonyMatthews Real Estate Investment ServicesMore Info
561-214-4356

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.