Storage Garage with Residential
For Sale
$579,000
1309 W Frangipani Cir, Lantana, FL 33462
Property with storage garage, office, restroom, and residential house.
Property Size1,110 SF
Lot Size0.23 Acres
Days on Market267
Property Features for 1309 W Frangipani Cir
General Information
Standard status
Active
Size
1,110 SF
Lot size
0.23 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$3,699
Building Details
Building Size
1,110 SF
Year Built
1981
Stories
1
Units
2
Listing Agency:
Richard Attenberg RE LLC
(561) 445-8444
Listed By:
Richard Attenberg · License #3068682
(561) 445-8444
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 14
Last Checked: Aug 22 at 9:59AM
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 Richard Attenberg RE LLC
Investment Insights
Based on property information with market context.
This property features a 3-bedroom house with a long-term tenant, accompanied by a large storage garage. The garage includes a 14-foot bay door, an office, and a restroom. It is suitable for car collectors, boat or RV storage, equipment storage, or a home-based business. Buyers are advised to verify all details, including square footage and zoning.
Key Highlights
- Huge Storage Garage with 14' bay door
- Suitable for Car collector, Boat or RV Storage, Equipment Storage
- Garage includes office and restroom
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
$18,769
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
3.24%
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%
$375,380
$375.4K
Cap Rate 7%
$268,129
$268.1K
Cap Rate 9%
$208,544
$208.5K
Market Conditions
NOI Build-Up for 1,110 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
$29.3K $26.40/SF
− Vacancy
−$2.5K −$2.24/SF
EGI
$26.8K $24.16/SF
− OpEx
−$8.0K −$7.25/SF
NOI
$18.8K $16.91/SF
Area
Palm Beach County, FL
Vacancy
8.50%
Lease Rate
$26.40 /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%
$375,380
Cap Rate 7%
$268,129
Cap Rate 9%
$208,544
Alternative Uses
Best Use
Retail
$268.1K
$234.6K – $312.8K
NOI $18,769 @ 7.0% cap · market cap 3.24%
Second Best
Industrial
$171.2K
$149.8K – $199.7K
NOI $11,983 @ 7.0% cap · market cap 2.07%
Theoretical Best
Office A
$781.7K
$684.0K – $912.0K
NOI $54,721 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
143k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 42%
Dining 29%
Home Improvements & Furnishings 26%
Hotels & Casinos 4%
The Home Depot
Home Improvements & Furnishings
36,541 visits/mo
0.3 miles
RaceTrac
Shops & Services
33,256 visits/mo
0.1 miles
Taco Bell
Dining
16,756 visits/mo
0.2 miles
Popeyes Louisiana Kitchen
Dining
12,849 visits/mo
0.3 miles
Wendy's
Dining
11,859 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Parking lot & garage - Property with storage garage, office, restroom, and residential house.
Where is this parking lot & garage located?
The property is located at 1309 W Frangipani Cir Lantana, FL.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: Huge Storage Garage with 14' bay door; Suitable for Car collector, Boat or RV Storage, Equipment Storage; Garage includes office and restroom
