Back to Search
North Port Triplex Investment Opportunity

438 Granada Blvd North Port, FL 34287

Claim this Listing
For Sale
Contact for pricing

Income-generating triplex near Warm Mineral Springs, North Port, Florida.

Type:Multifamily
Property size:
2,735 SF
Price / SF:
$179/SF
Added:
Jan 6, 2026
Days on Market:
188
Last Refresh:
May 12 at 8:32 pm

Property Features for 438 Granada Blvd

General Information

Standard status
Active
Size
2,735 SF
Property subtype
Multifamily

Building Details

Year Built
1964

Listing office RE/MAX Palm Realty

Listing date Jan 6, 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 RE/MAX Palm Realty


Investment Insights

Based on property information with market context.

This triplex presents an excellent income opportunity for investors, situated in a prime location in North Port, Florida, near Warm Mineral Springs. The property consists of three units. Two end units each feature two bedrooms, one bathroom, a kitchen, a family room, a living room, and a Florida room. The third unit includes one bedroom and one bathroom. All three units are equipped with a washer and dryer. A common-use shed is located in the back. Tenants are responsible for their own electricity expenses, as the units are individually metered. Several upgrades have been made to the major mechanical systems, including new A/C units installed within the last two years and a house electric meter. The property is not located in a flood zone and has no HOA or CDD fees. The location provides convenient access to Gulf beaches, marinas, fishing opportunities, and golf courses. North Port offers a variety of shopping and dining options, a vibrant downtown area with shops and art galleries, and numerous cultural events and festivals. Nearby nature parks and preserves include Charlotte Harbor Preserve State Park and Myakka River State Park. The property size is 2735 square feet.

Key Highlights

  • Excellent income opportunity with three units: two 2‑bedroom units and one 1‑bedroom unit.
  • No HOA or CDD fees.
  • Located minutes away from Warm Mineral Springs.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

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.

Component $ $/SF
Gross rent $44.3k $16.20
− Vacancy −$4.4k −$1.60
EGI $39.9k $14.60
− OpEx −$12.0k −$4.38
NOI $28.0k $10.22
2,735 SF · lease $16.20/SF/yr · vacancy 9.88% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$399.3K
$349.4K – $465.9K (±1% cap)
NOI $27,951 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$355.8K
$311.3K – $415.1K (±1% cap)
NOI $24,907 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$777.3K
$680.2K – $906.9K (±1% cap)
NOI $54,412 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Law Firm Hair Salon Nail Salon Parking Lot & Garage Gym & Fitness Center Daycare Center (Bike/Boat/Book/etc) Store Electrical Service Restaurant Spa & Massage Center

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Triplex - Income-generating triplex near Warm Mineral Springs, North Port, Florida.
Where is this triplex located?
The property is located at 438 Granada Blvd North Port, FL.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Excellent income opportunity with **three units: two 2‑bedroom units and one 1‑bedroom unit.**; No HOA or CDD fees.; Located minutes away from Warm Mineral Springs.
Contact an agent
(941) 525-6818 Call to check price and availability
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message