Tenant-Occupied
New
For Sale
$615,500
1673 W 26TH St 1, Riviera Beach, FL 33404
Three-unit residential income property near shopping, dining, beaches, and major transportation routes.
Property Size2,256 SF
Days on Market3
Property Features for 1673 W 26TH St 1
General Information
Standard status
Active
Size
2,256 SF
Property subtype
Investment
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,638
Building Details
Building Size
2,256 SF
Year Built
1984
Stories
2
Units
2
Listing Agency:
(561) 452-6426
Listed By:
Trinette Hobbs
(561) 452-6426
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 16 at 3:54AM
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 Trinette Hobbs
Investment Insights
Based on property information with market context.
Built in 1984, this triplex contains three residential units, each configured with two bedrooms and one bathroom. The property is currently tenant occupied, and access requires a confirmed appointment to respect resident privacy.
The property is located in Riviera Beach near shopping, dining, beaches, and major transportation routes. Walk Score is 44, reflecting a car-dependent setting, while Bike Score is 55, classified as Bikeable. Proof of funds or lender pre-approval is required before an appointment can be scheduled.
The property is located in Riviera Beach near shopping, dining, beaches, and major transportation routes. Walk Score is 44, reflecting a car-dependent setting, while Bike Score is 55, classified as Bikeable. Proof of funds or lender pre-approval is required before an appointment can be scheduled.
Key Highlights
- Three‑unit triplex with 2 bedrooms and 1 bathroom in each unit
- Built in 1984
- Tenant occupied; confirmed appointment required for access
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
$37,607
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
6.11%
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%
$752,140
$752.1K
Cap Rate 7%
$537,243
$537.2K
Cap Rate 9%
$417,856
$417.9K
Market Conditions
NOI Build-Up for 2,256 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
$56.9K $25.20/SF
− Vacancy
−$3.1K −$1.39/SF
EGI
$53.7K $23.81/SF
− OpEx
−$16.1K −$7.14/SF
NOI
$37.6K $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%
$752,140
Cap Rate 7%
$537,243
Cap Rate 9%
$417,856
Alternative Uses
Best Use
Multifamily LT 5
$537.2K
$470.1K – $626.8K
NOI $37,607 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$495.7K
$433.7K – $578.3K
NOI $34,696 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,216 @ 7.0% cap · market cap 18.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
631
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential income property near shopping, dining, beaches, and major transportation routes.
Where is this triplex located?
The property is located at 1673 W 26TH St 1 Riviera Beach, FL.
What is the asking price?
The asking price for this property is $615,500.
What are key features of this property?
This property features: Three‑unit triplex with 2 bedrooms and 1 bathroom in each unit; Built in 1984; Tenant occupied; confirmed appointment required for access
