1233 Old Dixie Highway | 1233 Old Dixie Hwy
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1233 Old Dixie Highway 1233 Old Dixie Hwy
10,250 SF 77% Leased Industrial Building Lake Park, FL 33403 $7,250,000 ($707/SF) 4.47% Cap Rate
Investment Highlights
- Rare, small bay industrial complex
- Direct frontage on Old Dixie Highway
- Tremendous upside to increase rents
Executive Summary
Property: 30,750 ± sf, 3-building, small-bay industrial complex for sale. The west building fronts Old Dixie Highway and those units are rear loaded with storefront entrances. The middle and east buildings are front loaded and are rented to a variety of small businesses, storage tenants, hobbyists, car collectors, etc. All units have at least one (1) 10’ x 10’ overhead door and share common area bathrooms which are located in each building. The buildings were constructed in 1974 and consist of (CBS) concrete, block and stucco with a concrete and built-up roof system.
Electric: Each building has one house electrical meter. Electric is currently included in rent.
Location: Located in the very active and popular “Northlake Business Park” just east of Interstate 95 at the Northlake Boulevard exit in northern Palm Beach County. Old Dixie Highway is a signalized intersection 1.15 miles east of Interstate 95.
Zoning: (C-4) Business District, Lake Park. This zoning allows a variety of uses including; but not limited to: office/warehouse uses, certain retail uses, personal and automobile storage, hobby shops and independent car dealerships (with parking inside the unit).
Current Occupancy: 100%
Annual Gross Income: $490,000.000
Operating Expenses: $166,000.00
Net Operating Income: $324,000.00
Sale Price: $7,250,000.00 (4.5% capitalization rate).
Electric: Each building has one house electrical meter. Electric is currently included in rent.
Location: Located in the very active and popular “Northlake Business Park” just east of Interstate 95 at the Northlake Boulevard exit in northern Palm Beach County. Old Dixie Highway is a signalized intersection 1.15 miles east of Interstate 95.
Zoning: (C-4) Business District, Lake Park. This zoning allows a variety of uses including; but not limited to: office/warehouse uses, certain retail uses, personal and automobile storage, hobby shops and independent car dealerships (with parking inside the unit).
Current Occupancy: 100%
Annual Gross Income: $490,000.000
Operating Expenses: $166,000.00
Net Operating Income: $324,000.00
Sale Price: $7,250,000.00 (4.5% capitalization rate).
Property Facts
| Price | $7,250,000 | Lot Size | 2.00 AC |
| Price Per SF | $707 | Rentable Building Area | 10,250 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 4.47% | Year Built | 1974 |
| Property Type | Industrial | Parking Ratio | 1.95/1,000 SF |
| Property Subtype | Warehouse | Clear Ceiling Height | 18 FT |
| Building Class | C | No. Drive In / Grade-Level Doors | 1 |
| Price | $7,250,000 |
| Price Per SF | $707 |
| Sale Type | Investment |
| Cap Rate | 4.47% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 2.00 AC |
| Rentable Building Area | 10,250 SF |
| No. Stories | 1 |
| Year Built | 1974 |
| Parking Ratio | 1.95/1,000 SF |
| Clear Ceiling Height | 18 FT |
| No. Drive In / Grade-Level Doors | 1 |
Amenities
- Signage
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 1st Fl - 3 & 30
- 600 SF
- Industrial
- Partial Build-Out
- Now
- 1st Fl - 4 & 29 and 5 & 28
- 1,200 SF
- Industrial
- Partial Build-Out
- Now
- 1st Fl - 6 & 27
- 600 SF
- Industrial
- Partial Build-Out
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Fl - 3 & 30 | 600 SF | Industrial | Partial Build-Out | Now |
| 1st Fl - 4 & 29 and 5 & 28 | 1,200 SF | Industrial | Partial Build-Out | Now |
| 1st Fl - 6 & 27 | 600 SF | Industrial | Partial Build-Out | Now |
1st Fl - 3 & 30
| Size |
| 600 SF |
| Space Use |
| Industrial |
| Condition |
| Partial Build-Out |
| Available |
| Now |
1st Fl - 4 & 29 and 5 & 28
| Size |
| 1,200 SF |
| Space Use |
| Industrial |
| Condition |
| Partial Build-Out |
| Available |
| Now |
1st Fl - 6 & 27
| Size |
| 600 SF |
| Space Use |
| Industrial |
| Condition |
| Partial Build-Out |
| Available |
| Now |
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PROPERTY TAXES
| Parcel Number | 36-43-42-20-00-000-3150 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,973,213 |
PROPERTY TAXES
Parcel Number
36-43-42-20-00-000-3150
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,973,213
zoning
| Zoning Code | C4 - Business District ((C4) Business District, Lake Park, FL. Zoned for a variety of retail, office and light industrial uses.) |
| C4 - Business District ((C4) Business District, Lake Park, FL. Zoned for a variety of retail, office and light industrial uses.) |
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1233 Old Dixie Highway | 1233 Old Dixie Hwy
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