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Listed by KW Reserve Business Brokerage LLC
$ 3,671,500
Est. payment /mo
Active
4138 Kirk RD Lake Worth, FL 33461
22 Baths
1,008 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type MultiFamily (5+ Units)
Listing Status Active
Purchase Type For Sale
Square Footage 1,008 sqft
Price per Sqft $3,642
Subdivision Palm Beach Farms Co 7
MLS Listing ID RX-11138487
Year Built 1949
Annual Tax Amount $5,269
Tax Year 2024
Lot Size 1.250 Acres
Property Sub-Type MultiFamily (5+ Units)
Property Description
The current NOI is $53,548 with a 7.65% CAP rate. Build an 11 unit Multifamily, which will increase the total revenue to $363,000 and the NOI to $354,148, at a total cost of $3,671,500, resulting in a cap rate of 10%. Discover the potential of this rare 1.25-acre parcel, zoned RM (Multi-Family, Medium Density) and located in an unincorporated area. The site may accommodate up to 11 residential units--a prime opportunity for developers or investors seeking a strong growth prospect. Enjoy a strategic location just minutes from I-95, the Florida Turnpike, and a variety of shopping, dining, schools, and employment hubs.
Location
State FL
County Palm Beach
Area 5700
Zoning RM
Interior
Heating No Heat
Cooling None
Flooring Other
Fireplaces Type None
Exterior
Utilities Available Cable, Electric, Water Available
Waterfront Description None
Roof Type Comp Shingle
Building
Story 100.00
Others
Security Features None
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Financing Cash,Conventional,FHA