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    156 Santa Barbara Way Palm Beach Gardens, FL 33410

    View on Map
    Sponsored
    For Sale
    $2,300,000

    MULTI_FAMILY - Palm Beach Gardens, FL

    Property size:
    1,570 SF
    Lot size:
    0.06 Acres
    Days on Market:
    6
    Last Refresh:
    Mar 16 at 5:06 pm

    Property Features for 156 Santa Barbara Way

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RM(cit
    Rooms
    Bathroom 9, Bedroom 6, Bedroom 9, Bedroom 10, Bathroom 1, Bathroom 11, Bathroom 6, Bedroom 3, Bathroom 8, Bathroom 5, Bedroom 5, Bathroom 4, Bedroom 8, Bathroom 2, Bathroom 7, Bedroom 2, Bathroom 3, Bathroom 10, Bedroom 4, Bedroom 7, Bedroom 1
    Bedrooms
    10
    Bathrooms
    11
    APN
    52434207390001980
    Size
    1,570 SF
    Lot size
    0.06 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Ceiling Fan(s), Central Air
    Water source
    Public
    Water front features
    Lake
    Water front
    1

    Building Details

    Year built
    2001
    Floors in Building
    2
    Number of units
    5
    Flooring type
    Carpet, Tile, Marble
    Building materials
    Brick, Concrete, Stucco
    Roof type
    Composition, Barrel

    We can help!

    Listing Contact
    Jenny Lewis

    Keller Williams Realty of Port St Lucie (772) 236-5700

    Listing agent Jenny Lewis (772) 236-5700 License #3092449

    Listing date Mar 11, 2026

    MLS# R11139526 Listing URL

    Copyright © 2026 BeachesMLS / Flexmls. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Palm Beach Gardens Multifamily Portfolio

    This is a five-unit portfolio featuring properties in Palm Beach Gardens and Jupiter, Florida. The portfolio includes 471 Capistrano Dr. in Palm Beach Gardens, 110 N Delaware Blvd. Unit 19A in Jupiter, 1308 13th Lane in Palm Beach Gardens, and 1304 13th Lane in Palm Beach Gardens. All properties feature new roofs. The property at 156 Santa Barbara Way features upgraded flooring, fresh paint, and lake views. The property at 471 Capistrano Dr. includes lake views, upgraded kitchen appliances, and a newer A/C unit. The property at 110 N Delaware Blvd. features a new stove, accordion shutters, a newer A/C unit, and intracoastal access for boats up to 26 ft. The property at 1308 13th Lane includes new accordion shutters, marble floors downstairs, a gourmet kitchen, and an upgraded master bath. The property at 1304 13th Lane features new accordion shutters and newer appliances. The lot size is 0.06 acres. The property size is 1570 square feet. The zoning is RM(cit.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palm Beach Gardens
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.09172
    Latitude
    26.834016

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    FAQs

    What type of property is this?
    Apartment building - Five-unit portfolio with recent upgrades and desirable features.
    Where is this apartment building located?
    The property is located at 156 Santa Barbara Way Palm Beach Gardens, FL.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: - Portfolio of 5 units in Palm Beach Gardens and Jupiter, FL.; - All units have new roofs.; - Multiple units feature newer A/C units.
    (772) 985-6622
    Request Owner's contact information
    156 Santa Barbara Way Palm Beach Gardens, FL 33410
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    Palm Beach Gardens, FL 33410
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    156 Santa Barbara Way Palm Beach Gardens, FL 33410
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    We can help!
    Listing Contact
    Jenny Lewis
    Real Estate License ID: 3092449
    (772) 985-6622 (772) 236-5700
    Learn more
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