Luxury Townhome Apartment
For Sale
Contact for pricing
3770 County Line Road, Tequesta, FL 33469
Sixteen-unit luxury townhome complex built in 2017, offering private garages and rooftop decks with R-2 short-term rental potential.
Property Size45,858 SF
Price / SF$305.18
Days on Market64
Property Features for 3770 County Line Road
General Information
Standard status
Active
Size
45,858 SF
Total Parking Spaces
70
Property subtype
Multifamily
Zoning
R-2
Additional Details
Multifamily Units
16
Building Details
Year Built
2017
Tenancy
Multi
Listing Agency:
Compass Florida LLC
(561) 512-8505
Listed By:
Sean Mooney · License #3366223
Source:
Crexi
Added: Jun 5
Changed: Jul 10
Last Checked: Aug 5 at 9:40AM
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 Compass Florida LLC
Investment Insights
Based on property information with market context.
Bella Villaggio is a 16-unit luxury townhome complex built in 2017, arranged in three separate buildings (A, B, and C). Buildings A and B each include five townhomes for a total of 10, featuring larger layouts with 4 bedrooms and 3 bathrooms. Building C includes six townhomes with 3 bedrooms and 2.5 bathrooms. Each townhome is designed with a two-car garage and a designated driveway, and every unit has its own private rooftop deck.
The residences are appointed with high-end finishes and durability features, including fully plumbed natural gas, 10-foot ceilings, stainless steel JennAir appliances, quartz countertops with porcelain backsplashes, and metal roofs. Hurricane impact windows and doors are included throughout, along with gas-powered tankless water heaters. The property includes 70+ parking spaces and is located at 3770 County Line Road in Tequesta, Florida.
With the seller owning 100% of the complex and the townhomes separately deeded across sixteen different folio numbers, the asset offers flexibility for multiple operating strategies, including traditional rentals, short-term rentals subject to obtaining a vacation rental permit from the Village of Tequesta Building Department, and potential individual unit sales without condominiumizing the community prior to marketing.
The residences are appointed with high-end finishes and durability features, including fully plumbed natural gas, 10-foot ceilings, stainless steel JennAir appliances, quartz countertops with porcelain backsplashes, and metal roofs. Hurricane impact windows and doors are included throughout, along with gas-powered tankless water heaters. The property includes 70+ parking spaces and is located at 3770 County Line Road in Tequesta, Florida.
With the seller owning 100% of the complex and the townhomes separately deeded across sixteen different folio numbers, the asset offers flexibility for multiple operating strategies, including traditional rentals, short-term rentals subject to obtaining a vacation rental permit from the Village of Tequesta Building Department, and potential individual unit sales without condominiumizing the community prior to marketing.
Key Highlights
- 16‑unit luxury townhome complex built in 2017 in Tequesta, FL
- Oversized units average 2,000+ air‑conditioned living SF and each includes a 2‑car garage plus private rooftop deck
- Unit mix by building: Buildings A & B have ten 4BD/3BA townhomes (corner ~2,198 SF; interior ~2,210 SF)
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
$705,265
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
5.04%
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%
$14,105,300
$14.1M
Cap Rate 7%
$10,075,214
$10.1M
Cap Rate 9%
$7,836,278
$7.8M
Market Conditions
NOI Build-Up for 45,858 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
$1.34M $29.28/SF
− Vacancy
−$60.4K −$1.32/SF
EGI
$1.28M $27.96/SF
− OpEx
−$577.0K −$12.58/SF
NOI
$705.3K $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%
$14,105,300
Cap Rate 7%
$10,075,214
Cap Rate 9%
$7,836,278
Alternative Uses
Best Use
Apartment 5plus
$10.08M
$8.82M – $11.75M
NOI $705,265 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$32.30M
$28.26M – $37.68M
NOI $2,260,704 @ 7.0% cap · market cap 16.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Explore this area
Business Placement
Demographics for 33469, FL
15,101
Population
8,284
Households
1.8
Avg Household Size
55
Median Age
50%
College-Educated
97%
High-School Grad
10.8 sq mi
ZIP Area
1,398
Density / Sq Mi
$103,489
Median Household Income
$58,016
Median Earnings
$1,786
Median Rent
$552,500
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?
Apartment building - Sixteen-unit luxury townhome complex built in 2017, offering private garages and rooftop decks with R-2 short-term rental potential.
Where is this apartment building located?
The property is located at 3770 County Line Road Tequesta, FL.
What is the asking price?
The asking price for this property is $13,995,000.
What are key features of this property?
This property features: 16‑unit luxury townhome complex built in 2017 in Tequesta, FL; Oversized units average 2,000+ air‑conditioned living SF and each includes a 2‑car garage plus private rooftop deck; Unit mix by building: Buildings A & B have ten 4BD/3BA townhomes (corner ~2,198 SF; interior ~2,210 SF)
