Spanish Mission-Style Triplex Near
For Sale
$680,000
627 30th St, West Palm Beach, FL 33407
Charming triplex near beaches, ideal for investors or owner-occupants.
Property Size1,914 SF
Days on Market118
Property Features for 627 30th St
General Information
Standard status
Active
Size
1,914 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$8,017
Building Details
Building Size
1,914 SF
Year Built
1926
Stories
1
Units
4
Listing Agency:
Coldwell Banker/ WPB
(561) 853-8493
Listed By:
Deirdre Kemp
(561) 853-8493
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Jul 16 at 6:19AM
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 Coldwell Banker/ WPB
Investment Insights
Based on property information with market context.
This Spanish Mission-style multi-family triplex is located near the beaches and Intracoastal Waterway, and a short distance from Downtown Northwood, which features various shops and restaurants. Downtown West Palm Beach is approximately a 15-minute drive away, with Tanger Outlets and other shopping and dining options in close proximity. The property is suitable for investors seeking rental income or for a residential buyer looking to offset living expenses. The layout allows for flexibility, offering the option to live in the main house while renting the two additional units, or leasing all units for maximum return. There is no HOA. The main residence includes 3 bedrooms and 1 bath, while the separate rear building contains a 1 bedroom, 1 bath unit and a studio. Separate electric meters are installed. The property has a bike score of 83, indicating it is very bikeable, a walk score of 69, indicating it is somewhat walkable, and a transit score of 33, indicating some transit options are available.
Key Highlights
- Income‑producing triplex with flexible layout: live in one unit and rent the other two, or rent all three for maximum income.
- Prime location: near beaches, Intracoastal Waterway, Downtown Northwood, and a short drive to Downtown West Palm Beach and Tanger Outlets.
- No HOA: Enhances long‑term investment value and reduces monthly expenses.
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
$35,818
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
5.27%
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%
$716,360
$716.4K
Cap Rate 7%
$511,686
$511.7K
Cap Rate 9%
$397,978
$398.0K
Market Conditions
NOI Build-Up for 1,914 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
$54.0K $28.20/SF
− Vacancy
−$2.8K −$1.47/SF
EGI
$51.2K $26.73/SF
− OpEx
−$15.4K −$8.02/SF
NOI
$35.8K $18.71/SF
Area
West Palm Beach, FL
Vacancy
5.20%
Lease Rate
$28.20 /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%
$716,360
Cap Rate 7%
$511,686
Cap Rate 9%
$397,978
Alternative Uses
Best Use
Multifamily LT 5
$511.7K
$447.7K – $597.0K
NOI $35,818 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$475.9K
$416.4K – $555.2K
NOI $33,312 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,356 @ 7.0% cap · market cap 13.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
912
Businesses Nearby
Explore this area
Business Placement
Demographics for 33407, FL
34,558
Population
15,147
Households
2.3
Avg Household Size
35
Median Age
26%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
3,491
Density / Sq Mi
$56,606
Median Household Income
$34,886
Median Earnings
$1,551
Median Rent
$290,500
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?
Triplex - Charming triplex near beaches, ideal for investors or owner-occupants.
Where is this triplex located?
The property is located at 627 30th St West Palm Beach, FL.
What is the asking price?
The asking price for this property is $680,000.
What are key features of this property?
This property features: Income‑producing triplex with flexible layout: live in one unit and rent the other two, or rent all three for maximum income.; Prime location: near beaches, Intracoastal Waterway, Downtown Northwood, and a short drive to Downtown West Palm Beach and Tanger Outlets.; No HOA: Enhances long‑term investment value and reduces monthly expenses.
