Zoned RM Multifamily
For Sale
$730,000
4475 Kirk Road, Lake Worth, FL 33461
Other - Lake Worth, FL
Property Size1,313 SF
Lot Size0.88 Acres
Price / SF$555.98
Days on Market83
Property Features for 4475 Kirk Road
General Information
Property type
Other
Property subtype
Duplex
Parking
10
Exterior features
Storage
Subdivision
4475 Kirk Road
Standard status
Active
APN
00424425000001630
Size
1,313 SF
Lot size
0.88 Acres
Utilities
Heating system
Central
Cooling system
Central Air
Water front features
Canal Access|Canal Front
Building Details
Year built
1958
Floors in Building
1
Flooring type
Other
Roof type
Other
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Engel & Völkers Wellington
(561) 791-2220
Listed By:
Wilky Ray Garcia · License #3345962
(561) 310-5802
Added: Jun 12
Changed: Jul 15
Last Checked: Sep 2 at 6:06PM
MLS# B26006203
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily duplex is offered as-is and positioned for flexible ownership. The property is located in a no-HOA setting and features a generous amount of space for parking. According to the listing, it is zoned RM—MULTI-FAMILY, with the ability to expand the property.
The property is located at 4475 Kirk Road in Lake Worth, Florida. The listing notes the home is minutes from restaurants, I-95, and shopping. Access is by appointment only, and the property is described as private.
For buyers seeking a multifamily asset with RM zoning and room to expand, this offering combines existing parking space with an as-is starting point in a no-HOA environment.
The property is located at 4475 Kirk Road in Lake Worth, Florida. The listing notes the home is minutes from restaurants, I-95, and shopping. Access is by appointment only, and the property is described as private.
For buyers seeking a multifamily asset with RM zoning and room to expand, this offering combines existing parking space with an as-is starting point in a no-HOA environment.
Key Highlights
- Canal‑access, canal‑front multifamily property with waterfront features listed as Canal Access/Canal Front
- Zoned RM—multi‑family and includes the ability to expand per listing remarks
- No HOA location
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,887
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$437,740
$437.7K
Cap Rate 7%
$312,671
$312.7K
Cap Rate 9%
$243,189
$243.2K
Market Conditions
NOI Build-Up for 1,313 SF
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.
Gross rent
$33.1K $25.20/SF
− Vacancy
−$1.8K −$1.39/SF
EGI
$31.3K $23.81/SF
− OpEx
−$9.4K −$7.14/SF
NOI
$21.9K $16.67/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$437,740
Cap Rate 7%
$312,671
Cap Rate 9%
$243,189
Alternative Uses
Best Use
Multifamily LT 5
$312.7K
$273.6K – $364.8K
NOI $21,887 @ 7.0% cap · market cap 3.00%
Second Best
Apartment 5plus
$288.5K
$252.4K – $336.6K
NOI $20,193 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$924.7K
$809.1K – $1.08M
NOI $64,728 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
807
Businesses Nearby
Explore this area
Business Placement
Demographics for 33461, FL
47,161
Population
18,095
Households
2.6
Avg Household Size
36
Median Age
17%
College-Educated
75%
High-School Grad
7.1 sq mi
ZIP Area
6,642
Density / Sq Mi
$61,218
Median Household Income
$31,503
Median Earnings
$1,615
Median Rent
$263,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Multifamily duplex with RM zoning and on-site parking, offered as-is in a no-HOA setting.
Where is this duplex located?
The property is located at 4475 Kirk Road Lake Worth, FL.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: Canal‑access, canal‑front multifamily property with waterfront features listed as Canal Access/Canal Front; Zoned RM—multi‑family and includes the ability to expand per listing remarks; No HOA location
