offering memorandum - loopnet · 2019. 9. 24. · 1411 n dixie 1411 n dixie hwy, lake worth, fl,...

1032 N DIXIE HWY1014-1032 N Dixie Hwy • Lake Worth, FL 33460

Offering Memorandum

1

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap Real

Estate Investment Services of Florida, Inc. ("Marcus & Millichap") and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This

Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property.

The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation,

with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements,

the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the

financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing

Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has

Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information

provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate

Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or

name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product,

service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

1032 N DIXIE HWY

Lake Worth, FL

ACT ID ZAA0240577

2

TABLE OF CONTENTS

SECTION

INVESTMENT OVERVIEW 01Offering Summary

Regional Map

Local Map

Aerial Photo

MARKET COMPARABLES 02

Sales Comparables

MARKET OVERVIEW 03

Market Analysis

Demographic Analysis

1032 N DIXIE HWY

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1032 N DIXIE HWY

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INVESTMENT

OVERVIEW

1032 N DIXIE HWY

OFFERING SUMMARY

▪ +/- 14,371 SF Two-Story Office Building Utilized as Funeral Home

▪ On-site Chapel, Apartment & Garage in Main Building

▪ Separate Free-Standing Apartment and Multi-Bay Warehouse

▪ Ideal Owner-User Property to Renovate or Re-Develop

▪ Excellent US 1 Location Less Than 1 Mile East of I-95

▪ Over 1/4 of a City Block with +/- 247 Feet of Dixie Hwy Frontage

INVESTMENT HIGHLIGHTS

Marcus & Millichap is pleased to present, as exclusive advisor, 1014-1032 N Dixie Hwy., (the Property), a +/- 14,371 square foot freestanding 2-Story office building with a

2nd floor apartment and garage located at 1032 N Dixie Highway, as well as a +/- 1,400 square foot freestanding warehouse and a +/- 794 square foot freestanding

cottage located at 1014 N Dixie Hwy., Lake Worth, Florida. The Property was constructed in multiple phases between 1930 and 1962 and sits on approximately .75 Acres

encompassing more than a 1/4 City block on two distinct parcels with 247 feet of Dixie Highway street frontage near a signalized intersection.

Currently partially occupied, the Property will be delivered 100% vacant sometime between Q2 and Q3 2020 and is ideal for an owner/user or investor. LISTED FOR

SALE AT $2,300,000

Conveniently located on Dixie Highway, just north of 10th Avenue North and 10 blocks north of Lake Avenue and the heart of downtown Lake Worth's thriving

entertainment district. The Property boasts easy access to Interstate 95, The Public Beach and Entertainment Complex and the Palm Beach International Airport. Further

enhancing the Property's central location is an abundance of multifamily and single-family housing, as well as a critical mass concentration of office, retail, service,

banking, motels, restaurants and shopping centers in the surrounding vicinity.

INVESTMENT OVERVIEW

5

1032 N DIXIE HWY

#

PROPERTY SUMMARY

OFFERING SUMMARY

THE OFFERING

Property 1032 N Dixie Hwy

Price $2,300,000

Property Address 1014-1032 N Dixie Hwy, Lake Worth, FL

Assessors Parcel Number 38-43-44-21-15-310-0050;38-43-44-21-15-310-0040

Zoning MU-DIXIE - Mixed Use Dixie Hwy (38-LAKE WORTH BEACH)

SITE DESCRIPTION

Number of Floors 1 and 2 Stories

Year Built/Renovated 1930;1951;1955;1963

Rentable Square Feet 16,565

Ownership SCI Funeral Services of Florida, LLC

Lot Size +/- .75

Parking +/- 30 Surface Spaces

Parking Ratio 1.875/1000

Topography Flat

Intersection/Cross Street 11th Avenue North & Dixie Hwy

UTILITIES

Gas N/A

Electric City of Lake Worth

Water City of Lake Worth

Sewer City of Lake Worth

Trash City of Lake Worth

6

CONSTRUCTION

Foundation Concrete Slab on Grade

Framing Concrete Block

Exterior Stucco over Concrete

Parking Surface Asphalt

Roof Flat Built-Up

Floor Plate Varied

Ceiling Height Ground Floor of Main Building +/- 10 Feet

MECHANICAL

HVAC Mullti-Ton Roof Mounted Units

Fire Protection N/A

Elevators One (1) Passanger

Power N/A

Life Safety N/A

Security N/A

On-Site Maintenance None

REGIONAL MAP

1032 N DIXIE HWY

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LOCAL MAP

1032 N DIXIE HWY

8

AERIAL PHOTO

1032 N DIXIE HWY

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PROPERTY PHOTO

1032 N DIXIE HWY

10

Over ¼ of an Entire City Block

on +/- .75 Acres Less Than One

Mile From I-95 with 247 Feet of

Frontage on Dixie Highway

12

1032 N DIXIE HWY

11

PROPERTY PHOTO

1032 N DIXIE HWY

12

MARKET

COMPARABLES

1032 N DIXIE HWY

SALES COMPARABLES MAP

13

1032 N DIXIE HWY

(SUBJECT)

1411 N Dixie

14-18 S J Street

406 N Dixie

1402 N Dixie

Dixie Commerce Centre

SALES COMPARABLES

1

2

3

4

5

14

PROPERTY NAME1032 N DIXIE HWY

SALES COMPARABLES

Avg. $164.95

$0.00

$30.00

$60.00

$90.00

$120.00

$150.00

$180.00

$210.00

$240.00

$270.00

$300.00

1411 N

Dixie

14-18 S J

Street

406 N Dixie 1402 N

Dixie

Dixie

Commerce

Centre

Average Price Per Square Foot

SALES COMPARABLES SALES COMPS AVG

PROPERTY NAME

MARKETING TEAM

1032 N DIXIE HWY

SALES COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1


rentpropertyname1


15

SALES COMPARABLES

1

Tenants Lease Type

Close Of

Escrow:7/12/2019

Sales Price: $350,000

Price/SF: $143.38

Year Built: 1961

1411 N DIXIE1411 N Dixie Hwy, Lake Worth, FL, 33460

2

Tenants Lease Type

Close Of

Escrow:6/4/2019


Price/SF: $235.70

Year Built: 1947

14-18 S J STREET14-18 S J Street, Lake Worth, FL, 33460

3

Tenants Lease Type

Close Of

Escrow:12/21/2018


Price/SF: $158.33

Year Built: 1978


PROPERTY NAME

MARKETING TEAM

1032 N DIXIE HWY

SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


16

SALES COMPARABLES

4

Tenants Lease Type

Close Of

Escrow:12/4/2018

Sales Price: $1,200,000

Price/SF: $142.72

Year Built: 1962


5

Close of Escrow 8/30/2018

Sales Price $645,000

Rentable SF 4,460

Price/SF $144.62

Year Built 1978

Occupancy 25%

NOTES

Exclusively Listed & Sold by C. Todd Everett, Marcus & Millichap

DIXIE COMMERCE CENTRE12 S Dixie Hwy, Lake Worth, FL, 33460

1032 N DIXIE HWY

17

MARKET

OVERVIEW

MARKET OVERVIEW

OVERVIEW

PALM BEACH COUNTY

LARGE RETIREE POPULATION

Nearly a quarter of the local population base are residents age 65 and older who seek entertainment and leisure options.

FAVORABLE TAX STRUCTURE

West Palm Beach has no state income tax and has a low property tax rate, attracting additional residents to the metro.

STRONG JOB GROWTH

Job gains are pronounced, especially in the education and health services sectors, which are driven by the local population growth.

Situated along the southeastern coast of Florida, Palm Beach County

encompasses 47 miles of Atlantic coastline with extraordinary beaches

and numerous golf courses that draw tourists and residents. The county

is Florida’s third most populous with 1.4 million people and is expected

to add more than 97,000 citizens through 2023. West Palm Beach is the

largest city, with 108,200 people. Other prominent municipalities include

Boca Raton, Boynton Beach and Delray Beach. The northern portion of

Everglades National Park is located within the metro.

▪ Historically, the Palm Beach County economy benefited from an expanding population that

supported strong growth in the real estate, construction and services-related sectors.

▪ Tourism plays an important role in the local economy, generating billions of dollars in revenue

annually, including spending by cruise-ship passengers.

▪ Agriculture is also an important industry in the western portion of the region, where crops include

winter vegetables, citrus, sugar cane and ornamental plants.

▪ As part of the Internet Coast, Palm Beach County has an established reputation for Internet

infrastructure servicing South Florida and Latin American markets.

DEMOGRAPHICS

1

ECONOMY

METRO HIGHLIGHTS

* Forecast

Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau

1032 N DIXIE HWY

1.4M

2018POPULATION:

594K

2018HOUSEHOLDS:

44.7

2018MEDIAN AGE:

$59,100

2018 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

38.0U.S. Median:

$58,8007.9%

Growth2018-2023*:

6.8%

Growth2018-2023*:

19

After moderated period, construction ramps up in West Palm Beach and Fort

Lauderdale while fundamentals carry momentum. A subdued development pipeline

and consistent demand for space has substantially improved office operations in

West Palm Beach over the past several years. The market’s vacancy rate has

dropped from a cycle high of 20.7 percent in 2010 to under 14.0 percent this year,

the most substantive recovery in the region. Availability will decline sharply again in

2019 despite a year-over-year rise in deliveries, as the metro’s largest completions

are already fully leased. A similar expansion to the construction pipeline in Fort

Lauderdale will hold vacancy flat this year but not impede rent growth. Monthly rates

are appreciating at a rapid clip here as biotech and business development companies

like Ultimate Software absorb more space.

Fewer arrivals pave way for rent growth in Miami. In contrast to the rest of Southeast

Florida, the development pipeline in Miami is contracting this year. Although

deliveries will still surpass 1 million square feet, ongoing leasing by healthcare

companies, coworking enterprises and business services firms sustains demand.

Availability will dip this year following a supply-driven increase in 2018, with vacancy

particularly tight in Miami City, West Miami and Medley/Hialeah. A strong interest in

occupying office space in these and other submarkets bodes well for rent growth this

year, even though asking rates are already some of the highest in the state of Florida.

Vacancies and Rents Improve Even as Development

Expands in Some Southeast Florida Markets

SOUTH FLORIDA METROS

* Cap rate trailing 12-month average through 1Q; Treasury rate as of March 29

Includes sales $1 million and greater for Miami, Fort Lauderdale and West Palm Beach

Sources: CoStar Group, Inc.; Real Capital Analytics

Investment Trends

Miami

• Greater interest from institutional investors translated into several recent

high-caliber trades in Downtown Miami and nearby Brickell. Initial returns for

these assets were in the mid-4 percent zone.

• Trade volume improved year over year in Kendall as multiple Class B and C

assets changed hands for under $10 million with cap rates in the high-6 to

high-7 percent range, above the high-5 percent metro average.

Fort Lauderdale

• Private investors have been more active than institutions so far this year as

regionally low entry costs attracted parties from outside the market. Sales

activity rose notably in Pompano Beach as buyers pursued Class B assets

with mid-6 to mid-7 percent initial yields.

• Medical office properties acquired in recent months provided above-market

initial returns. Several Class B and C assets in the city of Fort Lauderdale

were exchanged with cap rates up to mid-8 percent.

West Palm Beach

• West Palm Beach investors focus on business hubs in Boca Raton, Delray

Beach and other areas to obtain properties with high-credit tenants as the

metro lacks a prominent central business district.

• Buyers targeting regionally high yields have pursued opportunities in North

Palm Beach. Post 1980-built, sub-30,000-square-foot assets have traded

recently with cap rates in the 7 to 8 percent zone.

1032 N DIXIE HWY

Office 2019 Outlook

Vacancy

Y-O-Y

BasisPoint

Change

MetroAsking

Rent

Y-O-Y

Change

Miami 12.7% -10 $35.81 2.4%

Fort Lauderdale 12.9% 0 $29.75 4.6%

West Palm Beach 13.4% -70 $30.46 4.4%

20

• Over the 12-month period ended

in March, approximately 16,000

jobs were created, almost double

the previous annual period when

about 8,300 personnel were

added to payrolls. The

professional and business

services sector led hiring over the

past four quarters, expanding by

5,900 workers.

• Greater employment growth

contributed to a 20-basis-point

decline in the unemployment rate

to 3.6 percent, matching the U.S.

level.

EMPLOYMENT

• The pace of development

quickened over the past year

to achieve a cycle high.

Construction activity was

focused on Delray Beach and

the Palm Beach barrier island.

Medical offices comprised

approximately 99,900 square

feet of the deliveries.

• Outside of medical office

properties, major arrivals over

the past 12 months include the

Geo Group Headquarters in

Boca Raton, which spans

106,900 square feet.

CONSTRUCTION

• A lack of deliveries in most

submarkets contributed to

substantial declines in local

vacancy rates, lowering the

metrowide level to 13.7

percent in March.

• Availability has fallen under

10 percent in Jupiter, Royal

Palm Beach/Wellington and

Palm Springs/Lake Worth,

where there is less existing

supply and few completions

underway. Operations are also

improving in most other parts

of the market.

VACANCY

• The metro’s average marketed

rent improved by a similar

margin to a year ago to reach

$29.80 per square foot. Monthly

rates advanced the most in the

Delray Beach and Palm

Springs/Lake Worth submarkets.

• Boca Raton and North Palm

Beach both demonstrated above-

market rent growth, facilitated by

falling vacancy and a lack of

recent completions. Asking rates

remain highest for properties on

Palm Beach island, where

financial services firms have

been leasing space.

RENTS

SOUTH FLORIDA METROS: WEST PALM BEACH

increase in the

average asking rent

Y-O-Y

2.3%basis point decrease in vacancy Y-O-Y

90square feet completed

Y-O-Y

230,300increase in total employment Y-O-Y

2.6%

* Forecast

1Q19 – 12-Month Trend

1032 N DIXIE HWY

21

Lack of Construction Underscores Strength of Investment Landscape as Prices

Continue to Rise

Outlook: Office developers have largely

overlooked West Palm Beach, growing

the metro’s inventory by a region-low 2.5

percent over the past decade. The lack of

competition for existing properties has

bolstered property performance and

sustains investor interest in the metro.

Vacancy

Rate

Y-O-Y

BasisPoint

Change

SubmarketAsking

Rent

Y-O-Y %

Change

Royal Palm

Beach/Wellington5.0% -390 $25.85 -8.8%

Palm Springs/

Lake Worth7.1% -450 $24.40 10.8%

Jupiter 8.7% -150 $27.79 -2.3%

North Palm Beach 11.6% -140 $29.06 3.4%

Palm Beach 13.2% -60 $39.40 -7.3%

Delray Beach 13.7% 150 $29.41 8.5%

City of West Palm

Beach13.7% -120 $28.85 1.0%

Boynton/Lantana 14.4% 0 $26.21 2.1%

Boca Raton 16.5% -80 $30.78 4.5%

Overall Metro 13.7% -90 $29.80 2.3%

Submarket Trends

Lowest Vacancy Rates 1Q19

Sales Trends

SOUTH FLORIDA METROS: WEST PALM BEACH

• Transaction velocity improved over the past four quarters as investor demand

contributed to a 5.4 percent rise in the average sale price to $269 per square foot in

March.

• Price appreciation prompted a 30-basis-point annual dip in the average cap rate to

the mid-to-high 6 percent band. Initial returns exceed those found in Miami and

remain about on par with Fort Lauderdale.

* Trailing 12 months through 1Q19 over previous time period

** Includes submarkets with more than 100,000 square feet of inventory

Sources: CoStar Group, Inc.; Real Capital Analytics

1032 N DIXIE HWY

*1Q19

**2018

22

• Monetary policy in transition. Despite the Fed raising its benchmark short-term rate threetimes in seven months and signaling another rise before the end of the year, long-term rates

have remained stable. The yield on the 10-year U.S. Treasury bond remained in the low- to

mid-2 percent range throughout the second quarter of 2017. The Federal Reserve wants to

normalize monetary policy and, in addition to rate hikes, will start paring its balance sheet.

While short- and long-term rates do not always move in tandem, both actions by the Fed have

the potential to lift long-term rates.

• Sound economy a balancing act for Fed. With unemployment at the lowest level since 2007at 4.3 percent, the Federal Reserve will remain vigilant regarding the possible rapid increase

in inflation if wage growth takes off. Additionally, business confidence sits close to its all-time

high. Businesses finally have the confidence to expand their footprint after years of tepid

growth following the Great Recession. Office properties stand to gain significantly from this

expansion with increased hiring adding to occupancy, plus expanding economic growth. The

Fed, however, must now balance economic growth and job creation against wage growth and

inflationary pressures.

• Underwriting discipline persists; ample debt capital remains. Overall, leverage onacquisition loans has continued to reflect disciplined underwriting, with LTVs typically

ranging from 60 percent to 75 percent for most office properties. At the end of 2016, the

combination of higher rates, conservative lender underwriting and fiscal policy uncertainty

encouraged some investor caution that slowed deal flow, a trend that has extended into

2017. A potential easing of regulations on financial institutions, though, could liberate

additional lending capacity and higher interest rates may also encourage additional lenders

to participate. * ForecastSources: CoStar Group, Inc.; Real Capital Analytics

SOUTH FLORIDA METROS

Capital Markets

1032 N DIXIE HWY

PROPERTY NAME

MARKETING TEAM

1032 N DIXIE HWY

DEMOGRAPHICS

Source: © 2018 Experian

Created on August 2019

POPULATION 1 Miles 3 Miles 5 Miles

▪ 2023 Projection

Total Population 17,609 93,978 233,776

▪ 2018 Estimate


▪ 2010 Census


▪ 2000 Census


▪ Current Daytime Population

2018 Estimate 15,331 91,889 211,795

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

▪ 2023 Projection

Total Households 6,866 36,707 87,646

▪ 2018 Estimate


Average (Mean) Household Size 2.53 2.53 2.62

▪ 2010 Census


▪ 2000 Census


HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

▪ 2018 Estimate

$200,000 or More 1.65% 3.62% 3.26%

$150,000 - $199,999 2.67% 2.92% 2.71%

$100,000 - $149,000 9.16% 9.91% 9.22%

$75,000 - $99,999 11.40% 10.24% 10.32%

$50,000 - $74,999 15.20% 17.18% 19.02%

$35,000 - $49,999 14.86% 14.25% 14.72%

$25,000 - $34,999 14.77% 13.06% 12.67%

$15,000 - $24,999 14.10% 14.05% 14.06%

Under $15,000 14.55% 14.13% 13.62%

Average Household Income $56,357 $65,761 $63,915

Median Household Income $38,744 $42,785 $43,392

Per Capita Income $21,995 $25,500 $24,017

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population By Age

2018 Estimate Total Population 17,756 92,771 228,315

Under 20 23.11% 22.93% 24.60%

20 to 34 Years 25.69% 22.25% 22.19%

35 to 39 Years 7.37% 6.89% 7.07%

40 to 49 Years 13.97% 12.97% 13.04%

50 to 64 Years 18.87% 18.56% 17.68%

Age 65+ 11.00% 16.40% 15.41%

Median Age 35.76 38.44 37.21

▪ Population 25+ by Education Level

2018 Estimate Population Age 25+ 12,368 65,577 156,963

Elementary (0-8) 10.71% 10.91% 10.27%

Some High School (9-11) 10.82% 10.02% 10.31%

High School Graduate (12) 27.59% 27.38% 29.67%

Some College (13-15) 17.23% 18.31% 18.61%

Associate Degree Only 6.48% 6.60% 7.39%

Bachelors Degree Only 14.85% 14.98% 13.85%

Graduate Degree 6.35% 7.43% 6.33%

23

PROPERTY NAME

MARKETING TEAM

1032 N DIXIE HWY

DEMOGRAPHICS


Created on August 2019

POPULATION BY

TRANSPORTATION TO WORK1 Miles 3 Miles 5 Miles

▪ 2018 Estimate Total Population

Bicycle 0.99% 0.54% 0.78%

Bus or Trolley Bus 5.03% 2.70% 2.22%

Carpooled 22.46% 19.98% 17.24%

Drove Alone 62.02% 69.25% 72.98%

Ferryboat 0.00% 0.00% 0.00%

Motorcycle 0.13% 0.16% 0.18%

Other Means 1.51% 1.41% 1.47%

Railroad 0.47% 0.26% 0.16%

Streetcar or Trolley Car 0.00% 0.00% 0.00%

Subway or Elevated 0.59% 0.22% 0.10%

Taxicab 0.01% 0.06% 0.12%

Walked 5.20% 3.16% 2.17%

Worked at Home 1.63% 2.25% 2.58%

POPULATION BY TRAVEL TIME TO

WORK1 Miles 3 Miles 5 Miles

▪ 2018 Estimate Total Population

Under 15 Minutes 17.27% 21.69% 21.11%

15 - 29 Minutes 36.67% 37.48% 38.51%

30 - 59 Minutes 36.25% 30.87% 28.58%

60 - 89 Minutes 6.68% 5.49% 5.08%

90 or More Minutes 1.57% 1.85% 2.11%

Worked at Home 1.63% 2.25% 2.58%

Average Travel Time in Minutes 30 28 28

24

Income

In 2018, the median household income for your selected geography is

$38,744, compare this to the US average which is currently $58,754.

The median household income for your area has changed by 21.95%

since 2000. It is estimated that the median household income in your

area will be $42,934 five years from now, which represents a change

of 10.81% from the current year.

The current year per capita income in your area is $21,995, compare

this to the US average, which is $32,356. The current year average

household income in your area is $56,357, compare this to the US

average which is $84,609.

Population

In 2018, the population in your selected geography is 17,756. The

population has changed by 4.46% since 2000. It is estimated that the

population in your area will be 17,609.00 five years from now, which

represents a change of -0.83% from the current year. The current

population is 54.14% male and 45.86% female. The median age of

the population in your area is 35.76, compare this to the US average

which is 37.95. The population density in your area is 5,659.51 people

per square mile.

Households

There are currently 6,838 households in your selected geography. The

number of households has changed by -1.40% since 2000. It is

estimated that the number of households in your area will be 6,866

five years from now, which represents a change of 0.41% from the

current year. The average household size in your area is 2.53 persons.

Employment

In 2018, there are 5,907 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

50.58% of employees are employed in white-collar occupations in

this geography, and 48.60% are employed in blue-collar occupations.

In 2018, unemployment in this area is 6.12%. In 2000, the average

time traveled to work was 30.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

63.35% White, 15.97% Black, 0.08% Native American and 0.82%

Asian/Pacific Islander. Compare these to US averages which are:

70.20% White, 12.89% Black, 0.19% Native American and 5.59%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 44.55% of the current year

population in your selected area. Compare this to the US average of

18.01%.

PROPERTY NAME

MARKETING TEAM

1032 N DIXIE HWY

Housing

The median housing value in your area was $177,918 in 2018,

compare this to the US average of $201,842. In 2000, there were

3,553 owner occupied housing units in your area and there were

3,382 renter occupied housing units in your area. The median rent at

the time was $479.


DEMOGRAPHICS

25

8

1032 N DIXIE HWY

DEMOGRAPHICS

26

offering memorandum - loopnet · 2019. 9. 24. · 1411 n dixie 1411 n dixie hwy, lake worth, fl,...

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