Renovated Triplex with
415 Greenbriar Drive, West Palm Beach, FL 33403
For Sale
$799,000
Pending
All three units are leased and include separate meters, shared laundry, and additional storage amenities.
Property Size2,330 SF
Days on Market50
Property Features for 415 Greenbriar Drive
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Occupancy
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
shared laundry room
storage shed
Building Details
Building Size
Year Built
Stories
Tenancy
Listing Agency:
Serhant
Listed By:
Jenna Steffens Mayer · License FL SL3329646
(561) 876-6340
Source:
Laerrealty
Added: Sep 22
Changed: Nov 1
Last Checked: Nov 8 at 3:08AM
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 Serhant
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Investment Insights
Based on property information with market context.
This 2,014-square-foot triplex at 415 Greenbriar Drive includes three renovated residences: a front 2-bedroom, 1-bath home, plus a rear 1-bedroom unit and studio. A shared laundry room and garage sit between the buildings, while a storage shed and space for boat parking add functional utility. The property was built in 1925 and is zoned R1 by the city.
The property is located four blocks from the Intracoastal in Lake Park, near the town center’s breweries, restaurants, library, post office, and other neighborhood services. Juno Beach Pier, Downtown West Palm Beach, and shopping and dining along PGA Boulevard are approximately 10 minutes away. All three units are currently leased, and separate meters serve the residences.
The property is located four blocks from the Intracoastal in Lake Park, near the town center’s breweries, restaurants, library, post office, and other neighborhood services. Juno Beach Pier, Downtown West Palm Beach, and shopping and dining along PGA Boulevard are approximately 10 minutes away. All three units are currently leased, and separate meters serve the residences.
Key Highlights
- Three units currently leased
- Front residence offers 2 bedrooms and 1 bath
- Rear building includes a 1‑bedroom unit and a studio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,689
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$753,780
$753.8K
Cap Rate 7%
$538,414
$538.4K
Cap Rate 9%
$418,767
$418.8K
Market Conditions
NOI Build-Up for 2,014 SF
Gross rent
$56.8K $28.20/SF
− Vacancy
−$3.0K −$1.47/SF
EGI
$53.8K $26.73/SF
− OpEx
−$16.2K −$8.02/SF
NOI
$37.7K $18.71/SF
Area
West Palm Beach, FL
Vacancy
5.20%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$753,780
Cap Rate 7%
$538,414
Cap Rate 9%
$418,767
Alternative Uses
Best Use
Multifamily LT 5
$538.4K
$471.1K – $628.2K
NOI $37,689 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$500.8K
$438.2K – $584.2K
NOI $35,053 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,286 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
995
Businesses Nearby
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Business Placement
Demographics for 33403, FL
13,779
Population
5,906
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
3.3 sq mi
ZIP Area
4,175
Density / Sq Mi
$69,050
Median Household Income
$34,019
Median Earnings
$1,426
Median Rent
$340,100
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in West Palm Beach, FL
Properties on Market for Triplexes in West Palm Beach
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - All three units are leased and include separate meters, shared laundry, and additional storage amenities.
Where is this triplex located?
The property is located at 415 Greenbriar Drive West Palm Beach, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Three units currently leased; Front residence offers 2 bedrooms and 1 bath; Rear building includes a 1‑bedroom unit and a studio
