Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1309 Florida Ave West Palm Beach, FL 33401

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,325,000

    Charming triplex in historic Grandview Heights with income potential.

    Type:Investment
    Added:
    Apr 24, 2026
    Days on Market:
    10
    Last Refresh:
    Apr 24 at 3:40 pm

    Property Features for 1309 Florida Ave

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1930

    We can help!

    Listing Contact
    Emily Teodor Mazilu

    Listing agent Emily Teodor Mazilu License #3294118

    Listing office ATLANTIC FLORIDA PROPERTIES

    Listing date Apr 24, 2026

    Source Elliman

    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 ATLANTIC FLORIDA PROPERTIES

    Overview

    Grandview Heights Triplex Investment

    Located in historic Grandview Heights, this triplex presents a rare investment opportunity. The well-maintained multi-family residence is situated on a generously sized lot and offers timeless character with modern updates and strong income potential. The property features a Zen garden, a peaceful, minimalist outdoor space designed to promote relaxation and quiet reflection. This property is a perfect opportunity for seasonal rentals, with comparable properties in this highly desirable neighborhood commanding significant monthly rent during peak season. The expanding real estate market benefits from tourism, economic diversification, and quality of life. The property is located a short distance from downtown and CityPlace, with premier shopping and dining options. The location offers a dynamic lifestyle. The bike score is 57, indicating it is bikeable, and the transit score is 51, indicating good transit options.
    Location Intelligence

    Current Use by Public Records

    The Grandview Collection by ... Bed & Breakfast

    Suggested Use

    Real Estate Agency Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Daycare Center Building Supply Law Firm Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0571751
    Latitude
    26.7010835

    Nearby Similar for Sale

    • $5,900,000
      25,646 SF

      Premier Office Building For Sale

      Prime office building in the heart of Palm Beach County.
      2240 Palm Beach Lakes Boulevard, West Palm Beach, FL 33409
      View Details
    • $800,000
      3,168 SF

      Income-Producing Multifamily Property

      Multifamily property with strong rental history in West Palm Beach.
      1675 E Breezy Lane, West Palm Beach, FL 33417
      View Details
    • $20,000,000
      5,452 SF

      Downtown West Palm Beach Redevelopment

      Prime redevelopment portfolio in Downtown West Palm Beach, Florida.
      401 N Rosemary Avenue, West Palm Beach, FL 33401
      View Details
    • $295,000
      3,500 SF

      Profitable Auto Repair Shop

      Turnkey automotive repair shop with established revenue in West Palm.
      2702 Rockey Drive, West Palm Beach, FL
      View Details
    • $2,300,000
      2,080 SF

      West Palm Beach Commercial Property

      Two-building commercial property in West Palm Beach's Warehouse District.
      1200 Clare Avenue, West Palm Beach, FL 33401
      View Details
    • $995,000
      2,603 SF

      West Palm Beach Duplex

      Duplex with income potential in West Palm Beach, Florida.
      4391 Potomac Avenue, West Palm Beach, FL 33406
      View Details
    • $975,000
      3,069 SF

      West Palm Beach Multifamily Investment

      Multifamily property in a growing area near the Intercoastal.
      3621 Morton Avenue, West Palm Beach, FL 33405
      View Details
    • $2,999,000
      5,245 SF

      Freestanding Office Building For Sale

      Two-story office building with high visibility and convenient access.
      1300 Old Congress Avenue, West Palm Beach, FL
      View Details
    • $659,900
      2,600 SF

      West Palm Beach Income Property

      Spanish Mission style home with guest house near Nora District.
      619 30th Street, West Palm Beach, FL 33407
      View Details
    • $340,000
      5,000 SF

      West Palm Beach Commercial Property

      Commercial property for sale in West Palm Beach, Florida.
      2731 Pinewood Avenue, West Palm Beach, FL 33407
      View Details
    • $718,000
      2,772 SF

      West Palm Beach Multifamily Property

      Multifamily property in West Palm Beach, Florida.
      4600 Kelmar Drive, West Palm Beach, FL
      View Details
    • $250,000
      649 SF

      Downtown West Palm Beach Office

      Office suite in a central, high-visibility West Palm Beach location.
      120 S Olive Avenue, West Palm Beach, FL 33401
      View Details

    FAQs

    What type of property is this?
    Triplex - Charming triplex in historic Grandview Heights with income potential.
    Where is this triplex located?
    The property is located at 1309 Florida Ave West Palm Beach, FL.
    What is the asking price?
    The asking price for this property is $1,325,000.
    What are key features of this property?
    This property features: Rare triplex in historic Grandview Heights offering strong income potential.; Ideal for seasonal rentals, with comparable properties commanding $10,000+/month during peak season.; Prime location: Minutes walk to downtown/CityPlace shopping and dining.
    (561) 801-3284
    We can help!
    Listing Contact
    Emily Teodor Mazilu
    Real Estate License ID: 3294118
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    1309 Florida Ave, West Palm Beach, FL 33401

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!