3-Unit Residential
New
For Sale
$914,900
418 Conniston Road, West Palm Beach, FL 33405
Each residence has its own entrance, rear patio, and separately paid water and electric service.
Property Size2,256 SF
Days on Market5
Property Features for 418 Conniston Road
General Information
Standard status
Active
Size
2,256 SF
Property subtype
Triplex
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$10,399
Building Details
Building Size
2,256 SF
Year Built
1982
Listing Agency:
Interinvestments Realty, Inc.
Listed By:
Jonathan M Gardere · License #3038328
(786) 295-4429
Source:
Meyerlucas
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 2:31PM
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 Interinvestments Realty, Inc.
Investment Insights
Based on property information with market context.
Built in 1982, this triplex contains three two-bedroom, one-bath residences. Each unit has a private entrance and a rear patio. Tenants are responsible for their own water and electric service.
Conniston Road is one block from Dixie Highway, with downtown West Palm Beach and the Kravitz Center a few miles away.
Conniston Road is one block from Dixie Highway, with downtown West Palm Beach and the Kravitz Center a few miles away.
Key Highlights
- Three units, each with 2 bedrooms and 1 bathroom
- Built in 1982
- Private entrance and rear patio for each unit
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
$42,218
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
4.61%
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%
$844,360
$844.4K
Cap Rate 7%
$603,114
$603.1K
Cap Rate 9%
$469,089
$469.1K
Market Conditions
NOI Build-Up for 2,256 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
$63.6K $28.20/SF
− Vacancy
−$3.3K −$1.47/SF
EGI
$60.3K $26.73/SF
− OpEx
−$18.1K −$8.02/SF
NOI
$42.2K $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 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%
$844,360
Cap Rate 7%
$603,114
Cap Rate 9%
$469,089
Alternative Uses
Best Use
Multifamily LT 5
$603.1K
$527.7K – $703.6K
NOI $42,218 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$560.9K
$490.8K – $654.4K
NOI $39,264 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,216 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 33405, FL
19,369
Population
9,557
Households
2
Avg Household Size
41
Median Age
34%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
4,304
Density / Sq Mi
$82,945
Median Household Income
$46,450
Median Earnings
$1,432
Median Rent
$401,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence has its own entrance, rear patio, and separately paid water and electric service.
Where is this triplex located?
The property is located at 418 Conniston Road West Palm Beach, FL.
What is the asking price?
The asking price for this property is $914,900.
What are key features of this property?
This property features: Three units, each with 2 bedrooms and 1 bathroom; Built in 1982; Private entrance and rear patio for each unit
