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    Well-Maintained Triplex in Lake Hamilton Title is generated by Realmo AI

    423 MAIN STREET, Lake Hamilton, FL 33851

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    For Sale
    $398,000

    Triplex - LAKE HAMILTON, FL

    Type:Triplex
    Property size:
    2,352 SF
    Lot size:
    0.23 Acres
    Price / SF:
    $169/SF
    Added:
    Jan 21, 2026
    Days on Market:
    134
    Last Refresh:
    Jun 4 at 3:06 pm

    Property Features for 423 MAIN STREET

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Triplex
    Zoning
    R-1A
    Bedrooms
    6
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Security features
    Smoke Detector(s)
    Pets allowed
    Yes
    Interior features
    Ceiling Fans(s), Kitchen/Family Room Combo, Window Treatments
    Exterior features
    Sloped, Balcony, Lighting, Sidewalk
    Appliances
    Dishwasher, Range, Refrigerator, Washer
    Standard status
    Active
    APN
    27-28-16-823000-018070
    Size
    2,352 SF
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    7328.22

    Utilities

    Heating system
    Ductless (Heating), Electric (Heating)
    Cooling system
    Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1926
    Number of units
    3
    Flooring type
    Carpet, Tile, Tile - Ceramic, Vinyl, Wood
    Building materials
    Frame, Stucco, Wood Siding
    Roof type
    Membrane, Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Perry Kemp

    Listing agent Perry Kemp License #3241757

    Listing office LPT REALTY, LLC 1400 South International Parkw, Lake Mary, FL

    Listing date Jan 21, 2026

    MLS# P4937608 Listing URL

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

    HighLights

    • Income‑producing triplex with all units currently rented and clean.
    • Potential to increase income due to high square footage.
    • Convenient location with quick access to Hwy 27, I‑4, Disney, and Legoland.
    • Includes appliances: Dishwasher, Range, Refrigerator, and Washer.
    • Two adjoining vacant lots (Lot #3 & Lot #4) available for purchase.
    • Features multiple cooling systems: Multi Units, Wall/Window Unit(s), and Window Unit(s).

    Overview

    This well-maintained triplex is situated in the town of Lake Hamilton, offering convenient access to Highway 27 and Interstate 4, as well as attractions like Disney and Legoland. The property consists of multiple units, all of which are currently rented and maintained in clean condition. The property offers significant square footage and potential for income enhancement. In addition, there are two adjoining vacant lots, identified as lot #3 and lot #4, located at the back of the property, which can be purchased together with the triplex.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $38.1k $16.20
    − Vacancy −$2.5k −$1.05
    EGI $35.6k $15.15
    − OpEx −$10.7k −$4.54
    NOI $24.9k $10.60
    2,352 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $356.3K
    $311.7K – $415.6K (±1% cap)
    NOI $24,938 @ 7.0% cap · market cap 6.27%
    Second Best
    Apartment 5plus
    $318.3K
    $278.5K – $371.3K (±1% cap)
    NOI $22,278 @ 7.0% cap · market cap 5.60%
    Theoretical Best
    Office A
    $565.2K
    $494.6K – $659.4K (±1% cap)
    NOI $39,564 @ 7.0% cap · market cap 9.94%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Building Supply Hair Salon Big Box & Wholesale Store Nail Salon Hotel & Motel Auto Parts Store Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Hamilton
    County
    Polk
    State
    Florida
    Longitude
    -81.625966
    Latitude
    28.044483

    FAQs

    What type of property is this?
    Triplex - Triplex in Lake Hamilton with income potential and quick access.
    Where is this triplex located?
    The property is located at 423 MAIN STREET Lake Hamilton, FL.
    What is the asking price?
    The asking price for this property is $398,000.
    What are key features of this property?
    This property features: Income‑producing triplex with all units currently rented and clean.; Potential to increase income due to high square footage.; Convenient location with quick access to Hwy 27, I‑4, Disney, and Legoland.
    (863) 289-9238
    We can help!
    Listing Contact
    Perry Kemp
    Real Estate License ID: 3241757
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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
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