West Palm Beach Condominium
3901 36th Ct, West Palm Beach, FL 33407
68-unit condominium community near West Palm Beach redevelopment initiatives.
Type:Multifamily
Property size:
75,870 SFLot size:
3.25 AcresPrice / SF:
$272/SF- Added:
- Feb 23, 2026
- Days on Market:
- 82
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 3901 36th Ct
General Information
- Standard status
- Active
- Size
- 75,870 SF
- Lot size
- 3.25 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1973
Listing agent Evan Richardson License #FL SL3134745
Listing office Marcus & Millichap - Fort Lauderdale
Listing date Feb 23, 2026
Source Crexi
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 Marcus & Millichap - Fort Lauderdale
HighLights
- Proximity to major redevelopment initiatives driving economic growth.
- Family‑friendly unit mix with predominantly three‑bedroom/two‑bathroom units.
- Well‑constructed concrete block buildings with concrete flat roofs and central air conditioning.
- Mid‑sized multifamily asset (68 units) offering manageable scale.
- Units average approximately 1,115 square feet, providing comfortable living spaces.
- Strong rental demand supported by employment growth.
Overview
Piper Village West is a condominium community consisting of 68 units within five three-story buildings constructed in 1973. The property totals approximately 75,870 square feet on 3.25 acres. Constructed of concrete block with concrete flat roofs, the property features central air conditioning. The unit mix is predominantly family-oriented, with sixty-six three-bedroom/two-bathroom units and three two-bedroom/two-bathroom units, each averaging approximately 1,115 square feet. The property is located near major redevelopment initiatives reshaping the West Palm Beach region. Northwood Village is undergoing an expansion centered on The District at Northwood, a mixed-use project under construction that will deliver approximately 382 residential units across three buildings along with approximately 63,000 square feet of commercial and retail space and significant public open space. The District includes a mix of studio, one-, and two-bedroom apartments, ground-floor retail, co-working spaces, fitness and entertainment amenities, and hundreds of new parking spaces. To the south and east is the NORA District (North of Railroad Avenue), a 40-acre mixed-use destination being developed in downtown West Palm Beach. Phase I of NORA includes approximately 150,000 square feet of adaptive reuse and new commercial development featuring retail, dining, wellness, and creative office space. Future phases will introduce a 201-key boutique hotel, additional retail and hospitality offerings, and hundreds of residential units.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$14.67M
NOI $1,320,477 @ 9.00% cap · cautious / downside scenario
Moderate
$18.86M
NOI $1,320,477 @ 7.00% cap · market / base-case scenario
Aggressive
$26.41M
NOI $1,320,477 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $2.52M | $33.24 |
| − Vacancy | −$121.1k | −$1.60 |
| EGI | $2.40M | $31.64 |
| − OpEx | −$1.08M | −$14.24 |
| NOI | $1.32M | $17.40 |
75,870 SF · lease $33.24/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$18.86M
$16.51M – $22.01M
NOI $1,320,477 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$53.43M
$46.75M – $62.34M
NOI $3,740,233 @ 7.0% cap · market cap 18.07%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Piper Village West
Real Estate Agency
West palm beach
Bar & Pub
Location Insight
- Map
- Local Demand
- City
- West Palm Beach
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0672484
- Latitude
- 26.7480328
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 68-unit condominium community near West Palm Beach redevelopment initiatives.
Where is this apartment building located?
The property is located at 3901 36th Ct West Palm Beach, FL.
What is the asking price?
The asking price for this property is $20,700,000.
What are key features of this property?
This property features: Proximity to major redevelopment initiatives driving economic growth.; Family‑friendly unit mix with predominantly three‑bedroom/two‑bathroom units.; Well‑constructed concrete block buildings with concrete flat roofs and central air conditioning.
