518 N G St - Warehouse FOR SALE


Lake Worth Beach, FL 33460
$6,400,000 USD
305-235-1500
518 N G St, Lake Worth Beach, FL for Sale
$6,400,000 USD
Warehouse - FOR SALE
1/15
null | 6.53% Cap Rate

518 N G St
Lake Worth Beach, FL 33460


HIGHLIGHTS

  • -36-Unit Multi-Tenant Portfolio: 100% Occupied Diverse Tenant Mix Consistent Cash-Flowing Investment
  • -Recently Upgraded Electric and Plumbing in 2023/2024
  • -New Hurricane Windows and Hurricane Doors
  • -5 Separate Parcels: 1.51 Acres 3 Improved Parcels with 5 Buildings 2 Leased Lots for IOS or Add'l Parking LHTI/IA Light Industrial Zoning Future Deve

OVERVIEW

Lee & Associates, as exclusive advisor, is pleased to present for sale Lake Worth Small Bay, a ±25,800-square-foot small-bay industrial warehouse assemblage situated on 1.51 acres at 518-604 N G St, Lake Worth Beach, Florida. Originally built in 1955, the property received substantial upgrades in 2023, including hurricane-proof windows and new electrical and plumbing systems, enhancing both durability and tenant satisfaction. The asset comprises 36 individual warehouse units ranging from 387 to 1,800 square feet. and two leased IOS land parcels. Currently at 100% occupancy with leases below market rates, Lake Worth Small Bay offers an ideal small-bay configuration th supports higher rental rates and increased demand from local tenants. The property’s short-term leases provide flexibility adjust rates over shorter periods, capitalizing on the area’s rental growth potential. With a broad range of allowable uses under the current zoning, these spaces are ideally suited for light industrial and storage tenants. Rising demand for this type of space positions a new owner to capture further upside as leases turnover. Historically maintaining full occupancy, this well-maintained property delivers stable cash flow with potential for rental growth in a low-vacancy, high-demand market Located in the thriving Lake Worth East Submarket, this property benefits from easy access to major transportation hubs a highways. The assemblage is a mere 4-minute drive from the Lake Worth Tri-Rail station and just 13 minutes from Palm Beach International Airport. The surrounding area boasts a walkable community with nearby amenities and a strong industrial presence, making this an attractive option for investors and owner-users alike.

FOR SALE DETAILS

PRICE

$6,400,000 USD

PRICE/SF

$248 USD /SF

CAP RATE

6.53%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lake Worth Small Bay

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

UTILITIES

-

CLEAR CEILING HT

14 Ft

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.51

LAND SF

65,776

ZONING

LI

APN/PARCEL ID

38-43-44-21-15-146-0090

ASK ABOUT THIS PROPERTY

Sebastian MisiewiczLee & AssociatesMore Info
305-235-1500

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Sebastian MisiewiczLee & AssociatesMore Info
305-235-1500

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