Lake Ave Turnkey Restaurant

Highlights

• Full-Service, Turn-Key Restaurant Equipped With All FF&E | Real Estate Included
• Restaurant Gut-Renovated With $2M High-End Buildout in 2021
• Features Two Bars, Patio Seating, and +/- 750 Square Feet of Second Story Office
• Prime Downtown Lake Worth Beach Location With 90 Feet of Frontage on Historic Lake Avenue, One of the Most Walkable and Vibrant Submarkets in South Florida
• Surrounded by Art Boutiques, World-Renowned Restaurants, and Minutes From the Beach
• Minutes From Iconic Hotels Such as Four Seasons Palm Beach Resort, Eau Palm Beach Resort & Spa, and Palm Beach Resort and Beach Club
• Close to Iconic Attractions Such as Bryant Park, Lake Worth Playhouse, Lake Worth Beach and Easy Access to Major Highways
• Opportunity for new ownership to divide the space and create additional income

Description

SVN Commercial Partners, as exclusive advisors, is delighted to present for sale Downtown Lake Worth Commons ("the Property"), a +/- 3,100 square foot multi-tenant retail/office building strategically located just off the prime intersection of N J St and Lucerne Ave in Downtown Lake Worth Beach, Florida and is available for the first time since 1991.

Built in 1948, this historic Property offers a unique blend of charm and potential, featuring a 2,300 square foot vacant salon along with seven additional executive suites leased on a month-to-month basis. This provides a great opportunity to renovate this iconic gem and increase the well below market rents.

Located in the emerging Old Town historic district of Lake Worth Beach established in 1913 the Property is steps from the well known Lake Worth Playhouse, blocks away from City Hall, CVS, Starbucks, and Publix and surrounded by single-family and multi-family residential.

The Property’s prime location in a vibrant, walkable district offers outstanding visibility and access. Downtown Lake Worth Beach is often likened to the thriving Atlantic Avenue in Delray Beach and Clematis Street in West Palm Beach—making it one of the most exciting up-and-coming markets in the region.

Surrounded by new residential developments, including The Mid and The Bohemian, the area is attracting a large influx of residents, which is driving demand for retail spaces. Current rents range from $20 to $30 per square foot NNN, positioning the property as a lucrative investment in a rapidly appreciating market.

Strategically positioned in the vibrant city of Downtown Lake Worth Beach, Downtown Lake Worth Commons offers seamless connectivity to major attractions and surrounding areas. Located at the northeast corner of N J St and Lucerne Ave, the property is just minutes from the Atlantic Ocean, combining a coastal atmosphere with urban convenience. Downtown Lake Worth Beach is known for its rich cultural scene and iconic local landmarks, including the historic Lake Worth Playhouse and the popular Benny’s on the Beach restaurant, both of which attract a diverse crowd of visitors and locals alike. The area’s lively arts district, and numerous dining options create a vibrant, walkable community that draws steady foot traffic throughout the year. A free city parking lot directly across the street ensures easy access for tenants and customers, a rare convenience in a downtown setting. The property also benefits from its proximity to upscale resorts like the Palm Beach Resort & Club and the Four Seasons, enhancing its appeal as a prime location for boutique retail or high-end businesses. Additionally, the property's location is just a short drive from iconic cultural landmarks in Downtown West Palm Beach, such as The Kravis Center for Performing Arts and the Norton Museum of Art, further boosting its attractiveness. The surrounding shopping and dining options, along with limited vacancy and strong retail demand, ensure a steady flow of potential customers. With ongoing residential developments and the area's potential for substantial growth, Downtown Lake Worth Commons is a prime location for retail and service-oriented businesses, representing an exceptional investment opportunity in a rapidly appreciating South Florida market.