Investment Overview

Marcus & Millichap is pleased to present the investment opportunity located at 1103 5th Avenue N in Lake Worth Beach, Florida. This 10,200-square-foot multi-tenant warehouse property features 21 small bay units designed for flexibility and consistent tenant demand. The property accommodates a variety of local service businesses, contractors, and storage users, supported by a functional layout and convenient access to major Palm Beach County thoroughfares. With low vacancy and mark-to-market rental upside, the asset offers a compelling opportunity for both value-add investors and stable cash-flow buyers in a supply-constrained infill industrial market. Additionally, the property is located within the Artisanal Industrial (AI) zoning district established by Lake Worth Beach to foster its expanding arts and maker economy. This zoning designation permits small-scale, creative production activities that are consistent with the city’s cultural identity. This zoning is also compatible with nearby residential and mixed-use areas, encouraging the reuse of older buildings and attracting modern tenants such as studios, workshops, and small-scale manufacturers. These factors position the property to benefit from strong demand for well-located, small-bay industrial properties. The property likewise benefits from its location in Lake Worth Beach, an emerging coastal market in Palm Beach County known for its revitalized downtown, diverse population, and growing small-business ecosystem. The city has experienced a steady resurgence driven by its Community Redevelopment Agency, which has helped transform key corridors like Dixie Highway and the downtown core into a walkable hub of art galleries, restaurants, and local retailers. At the same time, ongoing public and private investment—including mixed-use redevelopment, affordable housing initiatives, and large-scale projects such as proposed oceanfront hotel and resort developments—are positioning Lake Worth as a value-oriented alternative to higher-priced neighboring markets like West Palm Beach and Delray Beach. Supported by pro-growth policies, development incentives, and broader economic expansion across Florida, the city continues to attract entrepreneurs, service businesses, and workforce-driven demand, reinforcing its trajectory as a steadily improving infill market with long-term upside.