Townhome Triplex with
For Sale
$1,450,000
Pending
1559 W 26th Court, Riviera Beach, FL 33404
Residential Income, Riviera Beach, FL
Property Size4,161 SF
Days on Market237
Property Features for 1559 W 26th Court
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RML12
Bedrooms
4
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Window features
Blinds
Patio and Porch features
Porch, Patio
Subdivision
Shady Grove
Directions
95 and 708/Blue Heron Blvd, travel East to Avenue S, then NORTH to W. 26 Ct.
Standard status
Pending
APN
56434229210000210
Size
4,161 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
SHADY GROVE LTS 21 TO 24 INC
Tax Annual Amount
15603
Legal Description
SHADY GROVE LTS 21 TO 24 INC
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
recessed lighting
stainless steel appliances
front load washers and dryers
laminate flooring
Building Details
Year built
2020
Floors in Building
2
Number of units
1
Flooring type
Laminate, Carpet
Building materials
CBS
Roof type
Shingle, Composition
Listing Agency:
One Market Real Estate LLC
(954) 367-9311
Listed By:
Otis Croney · License #3422794
(561) 755-9975
Added: Jan 17
Changed: Sep 11
Last Checked: Sep 11 at 2:06PM
MLS# F10546034
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2020, this triplex contains three townhome-style units, with each residence offering 4 bedrooms, 2.5 baths, approximately 1,700 square feet, and a one-car garage. Interior features include recessed lighting, stainless steel appliances, front-load washers and dryers, and laminate flooring. The property also includes patio and porch areas, central air, ceiling fans, public water, and public sewer.
The property is located in Riviera Beach, Florida, near redevelopment activity associated with the NOMAR neighborhood and surrounding areas including Lake Park and Northwood. Zoning is RML12. The asset has previously been operated as short-term rentals and is constructed with CBS materials under a composition and shingle roof.
The property is located in Riviera Beach, Florida, near redevelopment activity associated with the NOMAR neighborhood and surrounding areas including Lake Park and Northwood. Zoning is RML12. The asset has previously been operated as short-term rentals and is constructed with CBS materials under a composition and shingle roof.
Key Highlights
- Triplex with three townhome‑style units
- Each unit includes 4 bedrooms, 2.5 baths, approximately 1,700 square feet, and a one‑car garage
- Built in 2020 with CBS construction
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
$69,363
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
4.78%
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%
$1,387,260
$1.4M
Cap Rate 7%
$990,900
$990.9K
Cap Rate 9%
$770,700
$770.7K
Market Conditions
NOI Build-Up for 4,161 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
$104.9K $25.20/SF
− Vacancy
−$5.8K −$1.39/SF
EGI
$99.1K $23.81/SF
− OpEx
−$29.7K −$7.14/SF
NOI
$69.4K $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%
$1,387,260
Cap Rate 7%
$990,900
Cap Rate 9%
$770,700
Alternative Uses
Best Use
Multifamily LT 5
$990.9K
$867.0K – $1.16M
NOI $69,363 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$914.2K
$799.9K – $1.07M
NOI $63,993 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$2.93M
$2.56M – $3.42M
NOI $205,129 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
603
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units have short-term rental history and layouts suited to income-producing use.
Where is this triplex located?
The property is located at 1559 W 26th Court Riviera Beach, FL.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Triplex with three townhome‑style units; Each unit includes 4 bedrooms, 2.5 baths, approximately 1,700 square feet, and a one‑car garage; Built in 2020 with CBS construction
