PRESENTED BY: ALAN KAYE 954-558-8058
OFFERING MEMORANDUM
• Excellent Lake Worth Location
• Across from City Hall
• Charming Two Story Building
• Completely Redone Restaurant
• Impressive Artistic Décor
• Quick Access to I-95
• List Price: $1,250,000
Café Hermanas Restaurant
921 Lake Avenue
Lake Worth, Florida 33404
PRESENTED BY: ALAN KAYE 954-558-8058
PHOTOS
CAFÉ HERMANAS RESTAURANT & GALLERY
PRESENTED BY: ALAN KAYE 954-558-8058
CONFIDENTIALITY AND DISCLAIMER
CONFIDENTIALITY AND DISCLAIMER
This is a confidential Offering Memorandum, which is intended solely for your limited use and benefit in
determining whether you desire to express any further interest in acquiring 921 Lake Avenue, Lake Worth,
Florida 33460, (the “Property”). You are bound by the Confidentiality Agreement executed in connection with
your receipt of this Offering Memorandum.
This Offering Memorandum was prepared by Douglas Elliman Commercial Florida, a Florida limited liability
Company broker. It contains selected information pertaining to the Property and does not purport to be all-
inclusive or to contain all of the information, which prospective investors may desire. It should be noted that
all or any of the market analysis projections are provided for general reference purposes and are based on
assumptions relating to the general economy, competition and other factors beyond our control and, therefore,
are subject to material variation.
Additional information and an opportunity to inspect material related to the Property will be made available to
interested and qualified prospective capital sources. Neither the Owner, Broker, nor any of their respective
officers have made any representation or warranty, expressed or implied, as to the accuracy or completeness
of this Offering Memorandum or any of its contents, and no legal commitments or obligations shall arise by
reason of this Offering Memorandum or its contents.
It is essential that all parties to real estate transactions be aware of the health, liability and economic impact
of environmental factors on real estate. Broker does not conduct investigations or analyses of environmental
matters and, accordingly, urges interested parties to retain qualified environmental professionals to determine
whether hazardous or toxic wastes or substances (such as asbestos, pcbs, other contaminants or
petrochemical products stored in underground tanks) or other undesirable materials or conditions are present
at the Property, and if so, whether any health danger or other liability exists.
Various laws and regulations have been enacted at the federal, state and local levels dealing with the use,
storage, handling, removal, transport and disposal of toxic or hazardous wastes and substances. Depending
on past, current and proposed uses of the Property, it may be prudent to retain an environmental expert to
conduct a site investigation and/or building inspection. If such substances exist or are contemplated to be
used at the Property, special governmental approvals or permits may be required.
Consequently, legal counsel and technical experts should be consulted where these substances are or may
be present. In this Offering Memorandum, certain documents are described in summary form. The summaries
do not purport to be complete descriptions of the full agreements involved, nor do they purport to constitute
any legal analysis of the provisions of the documents. This brochure shall not be deemed an indication of the
state of affairs of the Owner nor constitute an indication that there has been no change in the business or
affairs of the Owner since the date of preparation of this Offering Memorandum. Duplication of the Offering
Memorandum in part or whole without expressed written consent of Broker is not authorized.
Location – Café Hermanas Restaurant & Gallery, Lake Worth, Florida 33460
PROPERTY ADDRESS 921 Lake Avenue
Lake Worth, Florida 33460
LOCATION A
BUILDING TYPE Two Story with Front Veranda & Elevator
LAND SIZE 0.0779 +/- Acres
BUILDING SIZE 5,044 +/- Square Feet (2,522 SF/Floor)
YEAR BUILT 1937
CONSTRUCTION CBS Construction & Concrete Tile Roof
PARKING Parking to the West and North
ELECTRICITY CITY OF LAKE WORTH
GAS FLORIDA PUBLIC UTILITIES (FPU)
WATER / SEWER CITY OF LAKE WORTH
ZONING DT – DOWNTOWN LAKE WORTH
TAX ID: # 38-43-44-21-15-015-0110
LOCATION A
SUMMARY
Café Hermanas Restaurant & Gallery is a charming two story magnificently redone Restaurant and Gallery in downtown Lake Worth across from City Hall, Lake Worth in Palm Beach County, Florida. This historic restaurant has been completely redone with attention to every detail in the interior and a magnificent mural on the entire west wall on Lake Avenue. The property sits on the south east corner of Lake Avenue and S H Street. Built in 1937 with CBS construction and a concrete roof there is a veranda in the second floor no expense has been spared as there is a charming bar when you walk in on your left-hand side to the first floor with tables spread out perfectly for social distancing and the first floor arrest restaurant and in the second floor as well which conserve as additional seating for the restaurant and a gallery. There is a veranda on the front of the property on the second floor. There is also a great U-shaped bar on the second floor as well. Access to the second floor is via a staircase or an elevator on the south west corner of the property. Each floor has a brand new kitchen, a new beer tap, a new soda system, and the second floor has a walk-in cooler. There are new sound systems on each floor with new electrical wiring, new WiFi, new camera security system and both floors are sprinkled. The property possesses brand new hurricane impact windows and doors as well as four new A/C units on each floor, all new LED lighting in the dining rooms, a new electrical heater, a new gas heater and new fire extinguishers.
Location, Location, Location: This property is situated in a premier downtown Lake Worth location across from City Hall and just steps west of Federal Highway. Lake Worth prides itself on being the “Walking City” and the immediate area has an urban feel. This location will always be in demand as it caters to today’s urban live, work, play lifestyle. Lake Worth is served by the Lake Worth Police and Fire Departments. With close proximity to I-95, it is located minutes from the Palm Beach International Airport, Palm Beach County Park Airport, JFK Medical Center, West Palm Beach and the Kravis Center to the north and Boca Raton and Broward County to the south. This is an excellent opportunity for an owner/user or an investor to acquire a well located completely redone unique property in a highly desirable urban setting with signs of redevelopment everywhere.
The property is being offered at only $1,250,000.
PRESENTED BY: ALAN KAYE 954-558-8058
EXECUTIVE SUMMARY
PROPERTY OVERVIEW
SALE PRICE $1,250,000
COST PER FOOT $247.82
ALAN KAYE
MARKET OVERVIEW
THE CITY OF LAKE WORTH The City of Lake Worth is located in east central Palm Beach County, Florida. Incorporated in 1912, it is a coastal city with
a population of 39,000 +/- residents within 7 +/- square miles. It is named from the body of water along its eastern border,
originally called "Lake Worth", and now generally known as the Lake Worth Lagoon. It is bounded to the east by the Atlantic
Ocean and the Lake Worth Lagoon; to the south by Boynton Beach, Boca Raton, and Broward County; to the west by Green
Acres; and to the north by West Palm Beach, Jupiter and Martin County. Lake Worth’s slogan is “Where the Tropics Begin.”
The City is considered to be very progressive and known as the “Walking City”, for its short walk, bike ride or jog east through
downtown to the Atlantic Ocean and the pier. The City has a rich history with over 1,000 historic buildings within six designated
historic districts. Downtown features the historic Lake Worth Playhouse and Museum, clubs and coffee houses, art galleries,
antique malls, retail stores, and many restaurants. Amenities include the beach and the Lake Worth fishing pier; fresh and
saltwater boating; municipally-owned golf course; waterfront amphitheater; and many parks and athletic facilities. A major
overhaul of the beach near the R.G. Kreusler Park and the renovation of the old Lake Worth Casino on the boardwalk have
been completed with new restaurants and shops. The Bryant Park Restoration Project funded by the City and Florida Inland
Navigational District has also been completed. Lake Worth residents are served by the Lake Worth Police & Fire Departments
and is home to Palm Beach State College and JFK Medical Center.
Palm Beach County is located in the southeastern portion of Florida and is the most northern county of the South Florida Gold
Coast which consists of Palm Beach County to the north, Broward County in the center and Miami-Dade County to the south.
It is part of the South Florida metropolitan area which is home to approximately 6,250,000 people. Formed in 1909, Palm
Beach County has 38 municipalities with about 1,500,000 residents and is the largest county in the state with a total area of
2,386.33 +/- square miles. Top employers include Palm Beach County Schools & County Government, Tenet Healthcare,
HCA Hospital Corporation of America, FPL, Florida Atlantic University, Breakers Hotel, Office Depot, Columbia Hospital, St.
Mary’s Medical Center, Palm Beach International Airport and Palm Beach County Park Airport.
PRESENTED BY: MARKET OVERVIEW
954-558-8058
MARKET OVERVIEW
CAFÉ HERMANAS RESTAURANT & GALLERY
PRESENTED BY: ALAN KAYE 954-558-8058
EXECUTIVE SUMMARY
PRESENTED BY: ALAN KAYE 954-558-8058
AERIAL VIEW
MARKET OVERVIEW
CAFÉ HERMANAS RESTAURANT & GALLERY
REGIONAL VIEW
PRESENTED BY: ALAN KAYE 954-558-8058
HIGHLIGHTS & DEMOGRAPHICS
Distance from 1216 Cabana Road
FINANCIAL HIGHLIGHTS:
• SALE PRICE $1,250,000• COST PER UNIT $247.82 Café Hermanas Restaurant & Gallery
AREA HIGHLIGHTS
Area Amenities & Transportation CoStar’s Daytime Employment
• Palm Beach International Airport (PBI)• Palm Beach County Park Airport• JFK Medical Center• Bryant Park• John Prince Park• Lake Worth Pier• Phipps Ocean Park• R.G. Kreusler Park
PRESENTED BY: ALAN KAYE 954-558-8058
MARKET OVERVIEW
MARKET OVERVIEW
PALM BEACH INTERNATIONAL AIRPORT
Palm Beach International Airport (PBI) is operated and maintained by Palm Beach County. On October 23, 1988, the state-of-the-art airport terminal building was
dedicated and is a user-friendly, convenient, comfortable and modern airport.
PBI serves the air trade area of Palm Beach County and the four surrounding counties. The airport is located 2.5 miles west of downtown West Palm Beach and just 3.5 miles
west of Palm Beach. PBI is situated adjacent to I-95 and is easily accessible from anywhere in Palm Beach County. Boca Raton is approximately 20 miles south and
Jupiter is only 15 miles north. PBI serves over 6.5 million passengers annually, offering
over 200 daily non-stop arrivals and departures to 34 destinations in the US, Canada and the Caribbean on 12 airline carriers.
PBI Travel Plaza. located at the Southwest corner of Florida Mango and Belvedere Road features free Wi-Fi, arrival/departure screens, Dunkin' Donuts, 7-11, Mobile gas, car
wash, electric car charging stations and cell phone waiting lot. PBI offers a user-friendly
experience online at pbia.org, from desktop, tablet or phone with a recently redesigned
responsive website. Additional amenities include a 24-hour control tower and putting green.
PBI has enjoyed many awards over the last 31 years including being named the 8th Best Domestic Airport by Travel + Leisure Magazine, 8th Best Airport in The U.S. by
Conde Nast Traveler's 2019 Readers’ Choice Awards, and 5th Best Medium Airport in
the 2019 J.D. Power North American Airport Satisfaction Survey.
PRESENTED BY: ALAN KAYE 954-558-8058
MARKET OVERVIEW
MARKET OVERVIEW
FLORIDA ATLANTIC UNIVERSITY
Florida Atlantic University (FAU) was founded in 1961 in Boca Raton on an 850-acre
site. The campus is conveniently located just east of I-95 and halfway between Palm
Beach and Fort Lauderdale and minutes from the Atlantic Ocean.
Ten distinguished colleges offer more than 170+ degree programs in fields that span
the arts and humanities, the sciences, medicine, nursing, accounting, business,
education, public administration, social work, architecture, engineering, computer
science and more. Academically accomplished students take advantage of honors
programs on the Boca Raton campus and the complete, four-year honors curriculum
offered by the Harriet L. Wilkes Honors College on the Jupiter campus.
FAU’s Charles E. Schmidt College of Medicine was launched in 2010 and matriculates
64 medical students each year and has been nationally recognized for its innovative
curriculum. As a community-based medical school, the college's humanistic, high
touch, high tech curriculum, coupled with its partnership with three independent health
systems in Palm Beach County, offers students and patients a unique experience.
FAU’s Christine E. Lynn College of Nursing, is internationally known for its commitment
to nursing as a discipline focused on nurturing the wholeness of persons and
environment through Caring. The College of Nursing is dedicated to advancing the
science, studying the meaning, practicing the art, and living Caring day-to-day. The
College vision is a world in which health and wellbeing are transformed locally,
nationally and globally through nursing grounded in Caring.
The FAU Owls are the athletics teams and they participate in the National Collegiate
Athletic Association's (NCAA) Division I as members of Conference USA. In addition
to the current football head coach Lane Kiffin, FAU has attracted high-profile coaches
in the past for various sports, including Howard Schnellenberger for football and Mike
Jarvis for basketball. As of March, 2018, the Owls are led by athletic director Brian
White. FAU Stadium is a college football stadium located at the north end of the main
campus. It opened in 2011 and it is home to the Florida Atlantic Owls football team
and the site of the national Cheribundi Boca Raton Bowl game broadcast on ESPN.
954-558-8058
MARKET OVERVIEW VIRGIN TRAINS USA
A MODERN RAILWAY Virgin Trains USA is the new name for All Aboard Florida's
Brightline as of April, 2019 when it was purchased by Richard
Branson. Brightline launched its new passenger private train
service between West Palm Beach and Fort Lauderdale on
Saturday, January 13, 2018, with plans to extend to Miami
later in 2018 and to include service to Orlando in 2020. One-
way trips between West Palm Beach and Fort Lauderdale are
expected to take 35 minutes. Brightline trains travel at
speeds of up to 79 mph.
The West Palm Beach Station is located at 501 Evernia Street between
Rosemary Avenue and Quadrille Boulevard in West Palm Beach, Florida. It is an
inter-city rail station that is served by Virgin Trains USA, connecting Miami, Fort
Lauderdale, West Palm Beach and the Orlando International Airport.
The West Palm Beach train station is a 60,000 square foot transportation hub
which provides new access to museums, golf courses, wildlife sanctuaries,
beaches and entertainment. The platform includes a modern, multistory lobby
with an elevated passenger lounge for travelers, and parking facilities.
It is a short walk from the Government Center, Clematis District, City Place,
Centennial Park and the Waterfront and a short ride to Palm Beach International
Airport.
PRESENTED BY: ALAN KAYE MARKET
OVERVIEW
954-558-8058
PROPERTY INSPECTION
Prospective purchasers will be given an opportunity to visit and inspect
the property at their convenience by scheduling an appointment with
ALAN KAYE of DOUGLAS ELLIMAN COMMERCIAL.
Property Tours should be scheduled with as much advance notice as
possible. Prospective purchasers may not visit the property without
ALAN KAYE of DOUGLAS ELLIMAN COMMERCIAL.
PRESENTED BY: ALAN KAYE CONTACT
Contact
ALAN KAYE
Douglas Elliman Commercial
954-558-8058
444 E. Palmetto Park Road, Boca Raton Florida 33432
