Investment Highlights
- More Than 30,900 Square Feet of Multi-Tenant Space – 23,698 SF of Retail, and 7,250 SF of Warehouse
- Property Consists of 17 Units in Two Buildings With One Vacancy
- Majority of Tenants have Been in Place 14+ Years, Showing a Long-Term Commitment to the Location
- Population Over 322,400 Within Five Miles of Subject Property
- Congress Avenue | More Than 43,500 Vehicles Daily
- Within Walking Distance from Palm Beach State College – Lake Worth Campus, the College’s Largest and Longest-Established Campus
- 3.5 Miles from the Island of Palm Beach, the Easternmost Town in Florida With a Population of 8,667 Residents, a Median Income of $133,026, and a Median Home Value of $1,149,500
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire Capitol Mall Plaza in Lake Worth, Florida. The property consists of 17 units in two buildings with one vacancy. This is more than 30,900 square feet of multi-tenant space with 23,698 SF of retail and 7,250 SF of warehouse. The majority of tenants have been in place for 14+ years, which shows the tenants’ a long-term commitment to the location.
Located in Lake Worth, Florida and part of the West Palm Beach MSA, the surrounding area has extremely strong demographics. The Subject Property is located on Congress Avenue with a daily traffic count over 43,500 vehicles. The population is over 322,400 within five miles of the Property. Capitol Mall Plaza is 3.5 miles from the island of Palm Beach which is ranked as one of the top 30 wealthiest communities in the United States. Palm Beach is the easternmost town in Florida with a population of 8,667 residents, a median income of $133,026, and a median home value of $1,149,500.
This property is within walking distance from Palm Beach State College Lake Worth Campus, the college’s largest and longest-established campus, with an enrollment of 48,757 students from more than 161 countries across five campuses. Surrounding national retailers include Walmart Supercenter, The Home Depot, Aldi, Publix, Big Lots, Ross, Beall’s Outlet, Dollar Tree, Chili’s Grill & Bar, McDonald’s, Taco Bell, Pizza Hut, Dunkin Donuts, Bank of America, Wells Fargo, CVS, Walgreens and many more.
Capitol Mall Plaza is 1.5 miles from the access ramps of Interstate 95 with 181,000 vehicles per day and connecting it eight miles north to West Palm Beach, the largest city in Palm Beach County, and 39 miles south to Fort Lauderdale. Palm Beach County is Florida’s third most populous county with 1.4 million people and is expected to add more than 97,000 citizens through 2023.
