Duplex with Separate
For Sale
$329,900
131 W 35th St Unit 1, Riviera Beach, FL 33404
RS-6 zoning, central air, and individually metered systems support the residential duplex configuration.
Property Size1,644 SF
Price / SF$200.67
Days on Market27
Property Features for 131 W 35th St Unit 1
General Information
Standard status
Active
Size
1,644 SF
Property subtype
Multi-Family
Building Details
Year Built
1956
Listing Agency:
United Realty Group Inc.
Listed By:
Kiyana Gauvin · License #3372953
(561) 860-1245
Source:
Wesellhomes
Added: Aug 9
Changed: Sep 3
Last Checked: Sep 4 at 10:59AM
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 United Realty Group Inc.
Investment Insights
Based on property information with market context.
This duplex property at 131 W 35th Street 1 provides 1,644 square feet of residential space within a building constructed in 1956. Interior features include central air conditioning and separate electric meters, while the property is situated within the city’s RS-6 zoning designation.
Access from I-95 is provided via the Blue Heron Boulevard exit, followed by eastbound travel toward Avenue F and the surrounding street network. The property is located in Palm Beach County, in Riviera Beach, Florida, with its address on W 35th Street.
Access from I-95 is provided via the Blue Heron Boulevard exit, followed by eastbound travel toward Avenue F and the surrounding street network. The property is located in Palm Beach County, in Riviera Beach, Florida, with its address on W 35th Street.
Key Highlights
- 1,644 SF duplex property
- Central air conditioning
- Separate electric meters
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
$27,405
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
8.31%
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%
$548,100
$548.1K
Cap Rate 7%
$391,500
$391.5K
Cap Rate 9%
$304,500
$304.5K
Market Conditions
NOI Build-Up for 1,644 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
$41.4K $25.20/SF
− Vacancy
−$2.3K −$1.39/SF
EGI
$39.2K $23.81/SF
− OpEx
−$11.7K −$7.14/SF
NOI
$27.4K $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%
$548,100
Cap Rate 7%
$391,500
Cap Rate 9%
$304,500
Alternative Uses
Best Use
Multifamily LT 5
$391.5K
$342.6K – $456.8K
NOI $27,405 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$361.2K
$316.1K – $421.4K
NOI $25,284 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,046 @ 7.0% cap · market cap 24.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
688
Businesses Nearby
Explore this area
Business Placement
Demographics for 33404, FL
31,869
Population
15,990
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
87%
High-School Grad
7.3 sq mi
ZIP Area
4,366
Density / Sq Mi
$60,225
Median Household Income
$35,521
Median Earnings
$1,507
Median Rent
$305,600
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?
Duplex - RS-6 zoning, central air, and individually metered systems support the residential duplex configuration.
Where is this duplex located?
The property is located at 131 W 35th St Unit 1 Riviera Beach, FL.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 1,644 SF duplex property; Central air conditioning; Separate electric meters
