Updated Two-Unit
For Sale
$789,000
124 Mayfield Road, Lantana, FL 33462
Each residence has its own electric meter, covered carport, and access to the backyard.
Property Size2,321 SF
Price / SF$464.12
Days on Market48
Property Features for 124 Mayfield Road
General Information
Standard status
Active
Size
2,321 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
R15(ci
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$11,289
Amenities
central A/C
enclosed sunroom
private rear patio
backyard
Building Details
Building Size
2,321 SF
Year Built
1948
Stories
1
Listing Agency:
Hampton Real Estate Group
Listed By:
Curtis Brown · License #R11116637
(561) 254-1509
Source:
Laerrealty
Added: Aug 4
Changed: Sep 20
Last Checked: Sep 20 at 5:39AM
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 Hampton Real Estate Group
Investment Insights
Based on property information with market context.
Built in 1948, this 1,700-square-foot duplex contains two separate residences with a practical mix of two-bedroom and one-bedroom layouts. The larger unit includes one bathroom, tile flooring, central A/C, an enclosed sunroom, and a rear patio. The adjoining one-bedroom residence has one bathroom, luxury vinyl flooring, central A/C, and an updated bathroom. Both units have covered carports and share access to the backyard. Separate electric meters serve the residences.
The property is located at 124 Mayfield Road in Lantana, near the beach and Intracoastal Waterway, with shopping and dining also identified in the surrounding area. Zoning is listed as R15(ci.
The property is located at 124 Mayfield Road in Lantana, near the beach and Intracoastal Waterway, with shopping and dining also identified in the surrounding area. Zoning is listed as R15(ci.
Key Highlights
- 1,700‑square‑foot duplex built in 1948
- Two‑bedroom, one‑bath unit with enclosed sunroom and rear patio
- One‑bedroom, one‑bath unit with updated bathroom
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
$28,339
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
3.59%
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%
$566,780
$566.8K
Cap Rate 7%
$404,843
$404.8K
Cap Rate 9%
$314,878
$314.9K
Market Conditions
NOI Build-Up for 1,700 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
$42.8K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$40.5K $23.81/SF
− OpEx
−$12.1K −$7.14/SF
NOI
$28.3K $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%
$566,780
Cap Rate 7%
$404,843
Cap Rate 9%
$314,878
Alternative Uses
Best Use
Multifamily LT 5
$404.8K
$354.2K – $472.3K
NOI $28,339 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$373.5K
$326.8K – $435.8K
NOI $26,145 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,806 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,168
Businesses Nearby
Explore this area
Business Placement
Demographics for 33462, FL
33,982
Population
15,911
Households
2.1
Avg Household Size
43
Median Age
28%
College-Educated
84%
High-School Grad
8.6 sq mi
ZIP Area
3,951
Density / Sq Mi
$72,288
Median Household Income
$38,193
Median Earnings
$1,659
Median Rent
$323,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has its own electric meter, covered carport, and access to the backyard.
Where is this duplex located?
The property is located at 124 Mayfield Road Lantana, FL.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: 1,700‑square‑foot duplex built in 1948; Two‑bedroom, one‑bath unit with enclosed sunroom and rear patio; One‑bedroom, one‑bath unit with updated bathroom
