16-Unit Townhome Apartment
For Sale
$13,995,000
3770 County Line Road, Tequesta, FL 33469
Separately deeded townhomes offer flexible rental and individual resale options in an established Florida community.
Property Size32,302 SF
Price / SF$433.25
Days on Market90
Property Features for 3770 County Line Road
General Information
Standard status
Active
Size
32,302 SF
Property subtype
Multi-family
Zoning
R-2
Lease Term
[]
Units
Unit Mix
10 x 4BR/3BA, 6 x 3BR/2.5BA
Multifamily Units
16
Additional Details
Utilities to Site
Yes
Amenities
two-car garage
designated driveway
private rooftop deck
10-foot ceilings
stainless steel appliances
quartz countertops
porcelain backsplashes
metal roofs
hurricane impact windows and doors
gas tankless water heaters
natural gas
Accessibility Features
Accessible Common Area
Accessible Entrance
Building Details
Year Built
2017
Buildings
3
Listing Agency:
Compass Florida LLC
Listed By:
Sean Mooney
(772) 287-1777
Source:
Onesothebysrealty
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 29 at 11:21AM
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 apartment property consisting of three townhome buildings completed in 2017. Buildings A and B contain five four-bedroom, three-bath residences each, while Building C includes six three-bedroom, two-and-a-half-bath residences. The complex totals 32,302 Living SF, with unit sizes ranging from 1,696 to 2,210 Living SF. Each residence includes a two-car garage, private driveway, rooftop deck, 10-foot ceilings, stainless steel JennAir appliances, quartz countertops, porcelain backsplashes, impact-rated windows and doors, metal roofing, natural gas service, and a gas tankless water heater.
The property is located at 3770 County Line Road in Tequesta, Florida. It includes more than 70 parking spaces and is zoned R-2. All 16 townhomes are separately deeded under individual folio numbers, allowing the owner to retain the complex as one investment, lease residences individually, or pursue separate unit sales. Short-term rentals may be conducted after obtaining the required vacation rental permit from the Village of Tequesta Building Department.
The property is located at 3770 County Line Road in Tequesta, Florida. It includes more than 70 parking spaces and is zoned R-2. All 16 townhomes are separately deeded under individual folio numbers, allowing the owner to retain the complex as one investment, lease residences individually, or pursue separate unit sales. Short-term rentals may be conducted after obtaining the required vacation rental permit from the Village of Tequesta Building Department.
Key Highlights
- 16 townhomes totaling 32,302 Living SF
- Three‑building layout with ten 4 BD/3 BA units and six 3 BD/2.5 BA units
- Built in 2017 with 1,696–2,210 Living SF residences
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
$496,783
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
3.55%
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%
$9,935,660
$9.9M
Cap Rate 7%
$7,096,900
$7.1M
Cap Rate 9%
$5,519,811
$5.5M
Market Conditions
NOI Build-Up for 32,302 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
$945.8K $29.28/SF
− Vacancy
−$42.6K −$1.32/SF
EGI
$903.2K $27.96/SF
− OpEx
−$406.5K −$12.58/SF
NOI
$496.8K $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%
$9,935,660
Cap Rate 7%
$7,096,900
Cap Rate 9%
$5,519,811
Alternative Uses
Best Use
Apartment 5plus
$7.10M
$6.21M – $8.28M
NOI $496,783 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$22.75M
$19.91M – $26.54M
NOI $1,592,421 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
384
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 - Separately deeded townhomes offer flexible rental and individual resale options in an established Florida community.
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 townhomes totaling 32,302 Living SF; Three‑building layout with ten 4 BD/3 BA units and six 3 BD/2.5 BA units; Built in 2017 with 1,696–2,210 Living SF residences
