Updated First Floor
For Sale
$325,000
Pending
6805 Willow Wood Drive 5014, Boca Raton, FL 33434
First-floor apartment with golf views and updated features.
Property Size1,330 SF
Days on Market720
Property Features for 6805 Willow Wood Drive 5014
General Information
Standard status
Pending
Size
1,330 SF
Property subtype
Condo/Townhome
Taxes and HOA fees
Annual Taxes
$3,236
Building Details
Year Built
1981
Listing Agency:
The Keyes Company
(561) 750-1000
Listed By:
Ira Steven Merritt · License #572044
(561) 487-3800
Source:
Exitrealty
Added: Sep 15, 2024
Changed: Aug 8
Last Checked: Jul 23 at 8:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Keyes Company
Investment Insights
Based on property information with market context.
This first-floor apartment is located in the Willow Wood Midrise building, offering convenient access without the need for an elevator and featuring no steps. The unit includes a large terrace incorporated into the living space and is situated in a well-landscaped area, avoiding views of the parking lot. A small patio off the kitchen provides golf course views, which are also enjoyed from the second bedroom. The unit has been updated and includes a washer and dryer. A new A/C unit was installed in 2022. Golf memberships are available.
Key Highlights
- First floor unit with direct terrace access – no elevator needed.
- Enjoy panoramic golf views from patio and second bedroom.
- Updated unit featuring in‑unit washer and dryer.
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
$20,454
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
6.29%
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%
$409,080
$409.1K
Cap Rate 7%
$292,200
$292.2K
Cap Rate 9%
$227,267
$227.3K
Market Conditions
NOI Build-Up for 1,330 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
$38.9K $29.28/SF
− Vacancy
−$1.8K −$1.32/SF
EGI
$37.2K $27.96/SF
− OpEx
−$16.7K −$12.58/SF
NOI
$20.5K $15.38/SF
Area
Palm Beach County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
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%
$409,080
Cap Rate 7%
$292,200
Cap Rate 9%
$227,267
Alternative Uses
Best Use
Apartment 5plus
$292.2K
$255.7K – $340.9K
NOI $20,454 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$936.7K
$819.6K – $1.09M
NOI $65,566 @ 7.0% cap · market cap 20.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
Explore this area
Business Placement
Demographics for 33434, FL
21,003
Population
13,570
Households
1.5
Avg Household Size
63
Median Age
56%
College-Educated
95%
High-School Grad
6.9 sq mi
ZIP Area
3,044
Density / Sq Mi
$75,480
Median Household Income
$51,830
Median Earnings
$1,500
Median Rent
$379,300
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - First-floor apartment with golf views and updated features.
Where is this residential income property located?
The property is located at 6805 Willow Wood Drive 5014 Boca Raton, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: First floor unit with direct terrace access – no elevator needed.; Enjoy panoramic golf views from patio and second bedroom.; Updated unit featuring in‑unit washer and dryer.
