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Polina Wittmann

polina.wittmann@engelvoelkers.com +1(305) 497-6508

Listed by KW Reserve Business Brokerage LLC

$ 3,671,500

Est. payment -/mo

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Pending

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 Pending

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

Virtual Tour https://www.propertypanorama.com/4138-Kirk-Road-Lake-Worth-FL-33461--RX-11138487/unbranded

NEARBY SCHOOLS & PROPERTIES

SCHOOLSPROPERTIES

Elementary Schools 20

6

Heritage Elementary School

Public | KG - 5
6

Montessori Academyof Early Enrichment, Inc

Public | PK - 6
6

Greenacres Elementary School

Public | PK - 5
6

Forest Hill Elementary School

Public | PK - 5
5

Starlight Cove Elementary School

Public | PK - 5
5

Indian Pines Elementary School

Public | PK - 5
5

Diamond View Elementary School

Public | KG - 5
5

Jfk Medical Center Charter School

Public | KG - 5
5

John I. Leonard High School

Public | PK - 12
5

C. O. Taylor-Kirklane Elementary School

Public | KG - 5
4

Highland Elementary School

Public | PK - 5
3

Lantana Elementary School

Public | PK - 5
3

Palm Springs Elementary School

Public | KG - 5
1

Royal Palm School

Public | PK - 12
1

Barton Elementary School

Public | PK - 5
0

Suncoast Christian Academy

Private | KG - 5
0

Kentwood Preparatory School

Private | 1 - 12
0

Northern Private School

Private | PK - 2
0

Potentia Academy

Private | 5 - 12
0

Hope Learning Community of Riviera Beach

Public | KG - 5

Middle Schools 8

5

Tradewinds Middle School

Public | 6 - 8
5

L C Swain Middle School

Public | 6 - 8
4

Lantana Middle School

Public | 6 - 8
4

Palm Springs Middle School

Public | 6 - 8
1

Lake Worth Middle School

Public | 6 - 8
0

South Area Secondary Intensive Transition Program

Public | 6 - 12
0

Exceptional Student Program Pre-K

Public | 6 - 12
0

Pace Center for Girls

Public | 6 - 12

High Schools 6

6

G-Star School of the Arts

Public | 9 - 12
4

Santaluces Community High School

Public | 9 - 12
4

Forest Hill Community High School

Public | 9 - 12
2

Lake Worth High School

Public | 9 - 12
0

Mavericks High School at Palm Springs

Public | 9 - 12
0

Goliath Academy

Private | 9 - 12

School and business data provided by Attom Data.

Polina Wittmann

Advisor | License ID: 3529662

+1(305) 497-6508

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