Updated Three-Unit
New
For Sale
$349,000
708 N SAINT CLAIR ABRAMS, Tavares, FL 32778
Three private-entry residences offer a flexible mix for an owner seeking an established multifamily property.
Property Size2,549 SF
Days on Market4
Property Features for 708 N SAINT CLAIR ABRAMS
General Information
Standard status
Active
Size
2,549 SF
Property subtype
Investment
Property Condition
Severity
Repairs Needed
Evidence
exterior painting and repairs
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$24,600
Taxes and HOA fees
Annual Taxes
$4,220
Building Details
Building Size
2,549 SF
Year Built
1949
Units
3
Listing Agency:
All Real Estate & Investments, Inc.
(352) 474-7202
Listed By:
Yvette Hoover · License #3497170
(352) 474-7202
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 22 at 8:30AM
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 All Real Estate & Investments, Inc.
Investment Insights
Based on property information with market context.
This 1949 triplex contains three separate residences: two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. Each residence has its own entrance. Unit 708 is vacant, while Units 710 and 712 are occupied under month-to-month arrangements. Recent work includes refreshed electrical systems, new hot water heaters in all three units, and updates to Unit 708 including paint and fixtures.
The property is located at 708 N Saint Clair Abrams in Tavares, Florida. Water and trash service are included among the property expenses. The current configuration provides three distinct living spaces with a combination of vacancy and month-to-month occupancy.
The property is located at 708 N Saint Clair Abrams in Tavares, Florida. Water and trash service are included among the property expenses. The current configuration provides three distinct living spaces with a combination of vacancy and month-to-month occupancy.
Key Highlights
- Three‑unit multifamily property built in 1949
- Unit mix includes two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- Private entrances serve each of the three residences
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
$31,302
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
8.97%
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%
$626,040
$626.0K
Cap Rate 7%
$447,171
$447.2K
Cap Rate 9%
$347,800
$347.8K
Market Conditions
NOI Build-Up for 2,549 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
$60.9K $23.88/SF
− Vacancy
−$4.0K −$1.55/SF
EGI
$56.9K $22.33/SF
− OpEx
−$25.6K −$10.05/SF
NOI
$31.3K $12.28/SF
Area
Lake County, FL
Vacancy
6.50%
Lease Rate
$23.88 /SF/Yr
Expense Ratio
45.00%
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%
$626,040
Cap Rate 7%
$447,171
Cap Rate 9%
$347,800
Alternative Uses
Best Use
Multifamily LT 5
$485.7K
$425.0K – $566.6K
NOI $33,997 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$447.2K
$391.3K – $521.7K
NOI $31,302 @ 7.0% cap · market cap 8.97%
Theoretical Best
Office A
$725.4K
$634.7K – $846.3K
NOI $50,776 @ 7.0% cap · market cap 14.55%
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
909
Businesses Nearby
Explore this area
Business Placement
Demographics for 32778, FL
23,993
Population
12,720
Households
1.9
Avg Household Size
52
Median Age
25%
College-Educated
88%
High-School Grad
25.4 sq mi
ZIP Area
945
Density / Sq Mi
$61,815
Median Household Income
$40,942
Median Earnings
$1,384
Median Rent
$241,500
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 private-entry residences offer a flexible mix for an owner seeking an established multifamily property.
Where is this triplex located?
The property is located at 708 N SAINT CLAIR ABRAMS Tavares, FL.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Three‑unit multifamily property built in 1949; Unit mix includes two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; Private entrances serve each of the three residences
