Three-Unit Triplex with Private
For Sale
Under Contract
$999,000
8615 SE Lyons Road, Hobe Sound, FL 33455
MULTI_FAMILY - Hobe Sound, FL
Property Size2,775 SF
Lot Size0.34 Acres
Price / SF$360
Days on Market23
Property Features for 8615 SE Lyons Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
res/multi
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 1
Pets allowed
No, Yes
Fencing
Fenced
Subdivision
LYONS'S UNREC
Elementary school
Hobe Sound
Middle school
Murray
High school
South Fork
Standard status
Active Under Contract
APN
343842024000000904
Size
2,775 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LYON'S UNREC BEG N/LN S1/2 LOT 92 78.17' E OF NW COR E 800 FOR BEG E 100 S 150 W 100 & N TO BEG
Tax Annual Amount
9254
Legal Description
LYON'S UNREC BEG N/LN S1/2 LOT 92 78.17' E OF NW COR E 800 FOR BEG E 100 S 150 W 100 & N TO BEG
Utilities
Utilities
Water Available
Sewer type
Septic Tank
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Well
Building Details
Year built
1979
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Block, CBS, Concrete, Stucco
Roof type
Metal
Listing Agency:
Realty One Group Engage
(772) 678-2099
Listed By:
Patricia Griffith · License #3453592
(856) 981-1909
Added: Jul 21
Changed: Aug 4
Last Checked: Aug 12 at 11:06PM
MLS# B26054661
Copyright © 2026 BeachesMLS. 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 three-unit triplex is configured as three separate two-bedroom, one-bath units, each with a private patio. Each unit has its own washer and dryer, and electric service is separately metered, supporting easier day-to-day management. Recent updates include solid surface finishes throughout, newer appliances, updated ceiling fans, and modern light fixtures.
The property is sited on a 0.34-acre lot and includes 2,775 square feet of block and CBS construction with concrete and stucco exterior finishes. The home features tile flooring, central air conditioning, and a heat pump heating system, with a metal roof. The property is fenced and served by well water with a septic tank.
Public remarks indicate the property has a successful history as a short-term Airbnb rental while also offering long-term rental potential.
The property is sited on a 0.34-acre lot and includes 2,775 square feet of block and CBS construction with concrete and stucco exterior finishes. The home features tile flooring, central air conditioning, and a heat pump heating system, with a metal roof. The property is fenced and served by well water with a septic tank.
Public remarks indicate the property has a successful history as a short-term Airbnb rental while also offering long-term rental potential.
Key Highlights
- Three separate two‑bedroom, one‑bath units with private patios
- Each unit has its own washer and dryer and separately metered electric
- Recent updates include solid surface finishes, newer appliances, ceiling fans, and modern light fixtures
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
$40,752
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
4.08%
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%
$815,040
$815.0K
Cap Rate 7%
$582,171
$582.2K
Cap Rate 9%
$452,800
$452.8K
Market Conditions
NOI Build-Up for 2,775 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
$61.6K $22.20/SF
− Vacancy
−$3.4K −$1.22/SF
EGI
$58.2K $20.98/SF
− OpEx
−$17.5K −$6.29/SF
NOI
$40.8K $14.69/SF
Area
Martin County, FL
Vacancy
5.50%
Lease Rate
$22.20 /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%
$815,040
Cap Rate 7%
$582,171
Cap Rate 9%
$452,800
Alternative Uses
Best Use
Multifamily LT 5
$582.2K
$509.4K – $679.2K
NOI $40,752 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$483.9K
$423.4K – $564.5K
NOI $33,870 @ 7.0% cap · market cap 3.39%
Theoretical Best
Retail
$729.0K
$637.9K – $850.5K
NOI $51,031 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Explore this area
Business Placement
Demographics for 33455, FL
20,799
Population
11,681
Households
1.8
Avg Household Size
60
Median Age
36%
College-Educated
94%
High-School Grad
56.6 sq mi
ZIP Area
367
Density / Sq Mi
$74,149
Median Household Income
$35,161
Median Earnings
$1,193
Median Rent
$395,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom, one-bath units each include a private patio, washer/dryer, and separately metered electric.
Where is this triplex located?
The property is located at 8615 SE Lyons Road Hobe Sound, FL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three separate two‑bedroom, one‑bath units with private patios; Each unit has its own washer and dryer and separately metered electric; Recent updates include solid surface finishes, newer appliances, ceiling fans, and modern light fixtures
