Updated Triplex in Prime
For Sale
$620,000
Pending
1831 Juno Rd, North Palm Beach, FL 33408
Well-kept triplex with immediate cash-flow opportunity in North Palm Beach.
Property Size1,598 SF
Lot Size0.32 Acres
Days on Market165
Property Features for 1831 Juno Rd
General Information
Standard status
Pending
Size
1,598 SF
Lot size
0.32 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$9,890
Building Details
Building Size
1,598 SF
Year Built
1960
Stories
1
Units
3
Listing Agency:
The Mastropieri Group
(561) 544-7000
Listed By:
Lawrence A Mastropieri · License #BK3252988
(561) 544-7000
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 21 at 9:18AM
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 The Mastropieri Group
Investment Insights
Based on property information with market context.
This well-kept triplex is located in a prime Palm Beach location on a huge oversized lot. The property features three updated units, each with private entrances. Dedicated open parking is available. Each unit includes an updated kitchen and a screened patio. The landscaping is well-maintained. The property is zoned for five units, presenting an expanding opportunity. It is currently generating immediate cash flow, with all units currently rented. The location provides convenient access to Jupiter Beach, Dubois Park, Juno Beach Park Beach, Palm Beach Gardens, fine dining, shops, and I-95.
Key Highlights
- Immediate cash‑flow opportunity: all units currently rented
- Expanding opportunity, zoned for 5 units
- Prime Palm Beach location, minutes to beaches, dining, shops, and I‑95
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
$26,638
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
4.30%
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%
$532,760
$532.8K
Cap Rate 7%
$380,543
$380.5K
Cap Rate 9%
$295,978
$296.0K
Market Conditions
NOI Build-Up for 1,598 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
$40.3K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$38.1K $23.81/SF
− OpEx
−$11.4K −$7.14/SF
NOI
$26.6K $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%
$532,760
Cap Rate 7%
$380,543
Cap Rate 9%
$295,978
Alternative Uses
Best Use
Multifamily LT 5
$380.5K
$333.0K – $444.0K
NOI $26,638 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$351.1K
$307.2K – $409.6K
NOI $24,576 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$1.13M
$984.7K – $1.31M
NOI $78,778 @ 7.0% cap · market cap 12.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 33408, FL
18,965
Population
13,490
Households
1.4
Avg Household Size
58
Median Age
52%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
2,789
Density / Sq Mi
$91,390
Median Household Income
$65,606
Median Earnings
$1,885
Median Rent
$502,900
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 - Well-kept triplex with immediate cash-flow opportunity in North Palm Beach.
Where is this triplex located?
The property is located at 1831 Juno Rd North Palm Beach, FL.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Immediate cash‑flow opportunity: all units currently rented; Expanding opportunity, zoned for 5 units; Prime Palm Beach location, minutes to beaches, dining, shops, and I‑95
