Triplex with Vacant One-Bedroom
New
For Sale
$499,000
16025 WALLACE STREET, Umatilla, FL 32784
Three separate residences include an option for an owner-occupant to live on-site.
Property Size3,512 SF
Price / SF$142.08
Days on Market7
Property Features for 16025 WALLACE STREET
General Information
Standard status
Active
Size
3,512 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Building Details
Year Built
1966
Listing Agency:
LA ROSA REALTY CW PROPERTIES L
(407) 910-2168
Listed By:
Ricardo Adames · License #3392384
(407) 279-0018
Source:
Endlesssummerrealty
Added: Sep 3
Changed: Sep 8
Last Checked: Sep 9 at 6:14AM
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 LA ROSA REALTY CW PROPERTIES L
Investment Insights
Based on property information with market context.
Built in 1966, this triplex contains three separate residential units within one property. The one-bedroom unit can be delivered vacant, giving an owner-occupant the option to reside on-site while leasing the other two units. The layout also supports separate residential tenancies under a single ownership structure.
Located at 16025 Wallace St in Umatilla, the property has access to local shopping, dining, schools, parks, and surrounding Lake County communities. Walk Score is 1 and bikeScore is 26, reflecting a car-dependent setting with some bike access. The three-unit configuration provides flexibility for an investor or an owner-occupant seeking an on-site residence.
Located at 16025 Wallace St in Umatilla, the property has access to local shopping, dining, schools, parks, and surrounding Lake County communities. Walk Score is 1 and bikeScore is 26, reflecting a car-dependent setting with some bike access. The three-unit configuration provides flexibility for an investor or an owner-occupant seeking an on-site residence.
Key Highlights
- Three separate residential units in a triplex configuration
- One‑bedroom unit can be delivered vacant
- Built in 1966
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
$43,128
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
8.64%
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%
$862,560
$862.6K
Cap Rate 7%
$616,114
$616.1K
Cap Rate 9%
$479,200
$479.2K
Market Conditions
NOI Build-Up for 3,512 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
$83.9K $23.88/SF
− Vacancy
−$5.5K −$1.55/SF
EGI
$78.4K $22.33/SF
− OpEx
−$35.3K −$10.05/SF
NOI
$43.1K $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%
$862,560
Cap Rate 7%
$616,114
Cap Rate 9%
$479,200
Alternative Uses
Best Use
Multifamily LT 5
$669.2K
$585.5K – $780.7K
NOI $46,841 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$616.1K
$539.1K – $718.8K
NOI $43,128 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$999.4K
$874.5K – $1.17M
NOI $69,959 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
80
Businesses Nearby
Explore this area
Business Placement
Demographics for 32784, FL
11,212
Population
4,971
Households
2.3
Avg Household Size
45
Median Age
12%
College-Educated
88%
High-School Grad
92.8 sq mi
ZIP Area
121
Density / Sq Mi
$69,633
Median Household Income
$40,247
Median Earnings
$1,082
Median Rent
$237,300
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 separate residences include an option for an owner-occupant to live on-site.
Where is this triplex located?
The property is located at 16025 WALLACE STREET Umatilla, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Three separate residential units in a triplex configuration; One‑bedroom unit can be delivered vacant; Built in 1966
