Multifamily Apartment
For Sale
$2,689,000
3141 S Military Trail, Lake Worth, FL 33463
COMMERCIAL - Lake Worth, FL
Property Size8,320 SF
Lot Size0.75 Acres
Price / SF$323.20
Days on Market94
Property Features for 3141 S Military Trail
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
UI
Parking
20
Subdivision
5720
Special listing conditions
Real Estate Owned, In Foreclosure
Standard status
Active
APN
00424424010000200
Size
8,320 SF
Lot size
0.75 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MODEL LAND CO SUB OF N 1/2 N 111.6 FT OF TR 12 /LESS W 400 FT & E 28 FT RD R/W/
Tax Annual Amount
20174
Legal Description
MODEL LAND CO SUB OF N 1/2 N 111.6 FT OF TR 12 /LESS W 400 FT & E 28 FT RD R/W/
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1983
Floors in Building
2
Number of units
23
Flooring type
Concrete, Vinyl
Building materials
CBS, Concrete
Roof type
Composition
Listing Agency:
Partnership Realty Inc.
(561) 355-0270
Listed By:
Alex F Cozzi PA · License #684305
(561) 317-2042
Added: May 7
Changed: Aug 7
Last Checked: Aug 8 at 9:06PM
MLS# B26025496
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.
This for-sale multifamily apartment building features a total building size of 8,320 square feet on a 0.75-acre lot. The property is categorized as other apartment buildings, multifamily properties, and residential income properties, indicating an income-oriented use.
Located at 3141 S Military Trail in Lake Worth, Florida 33463, the site is listed with UI zoning and sits in Palm Beach County.
Located at 3141 S Military Trail in Lake Worth, Florida 33463, the site is listed with UI zoning and sits in Palm Beach County.
Key Highlights
- Built in 1983
- Construction materials include CBS and concrete
- Central air with electric cooling
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
$127,956
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
4.76%
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%
$2,559,120
$2.6M
Cap Rate 7%
$1,827,943
$1.8M
Cap Rate 9%
$1,421,733
$1.4M
Market Conditions
NOI Build-Up for 8,320 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
$243.6K $29.28/SF
− Vacancy
−$11.0K −$1.32/SF
EGI
$232.6K $27.96/SF
− OpEx
−$104.7K −$12.58/SF
NOI
$128.0K $15.38/SF
Area
Palm Beach County, FL
Vacancy
4.50%
Lease Rate
$29.28 /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%
$2,559,120
Cap Rate 7%
$1,827,943
Cap Rate 9%
$1,421,733
Alternative Uses
Best Use
Apartment 5plus
$1.83M
$1.60M – $2.13M
NOI $127,956 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.86M
$5.13M – $6.84M
NOI $410,159 @ 7.0% cap · market cap 15.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
Explore this area
Business Placement
Demographics for 33463, FL
64,608
Population
22,696
Households
2.8
Avg Household Size
37
Median Age
25%
College-Educated
82%
High-School Grad
10.8 sq mi
ZIP Area
5,982
Density / Sq Mi
$68,697
Median Household Income
$34,846
Median Earnings
$1,721
Median Rent
$326,600
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?
Apartment building - For sale multifamily apartment building on a 0.75-acre lot with 8,320 square feet and UI zoning.
Where is this apartment building located?
The property is located at 3141 S Military Trail Lake Worth, FL.
What is the asking price?
The asking price for this property is $2,689,000.
What are key features of this property?
This property features: Built in 1983; Construction materials include CBS and concrete; Central air with electric cooling
