Single-Story Triplex with Impact
New
For Sale
$765,000
502 W Br St, Lantana, FL 33462
Three-unit property with varied layouts, irrigation well, and updated impact windows.
Property Size2,204 SF
Price / SF$347.10
Days on Market5
Property Features for 502 W Br St
General Information
Standard status
Active
Size
2,204 SF
Property subtype
Investment
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA, 1 x Studio Apt.
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,714
Building Details
Building Size
2,204 SF
Year Built
1972
Buildings
1
Stories
1
Units
3
Listing Agency:
Saba Realty
(561) 281-6176
Listed By:
Kimberly Johnston · License #3342746
(561) 281-6176
Source:
Elliman
Added: Aug 8
Changed: Aug 10
Last Checked: Aug 11 at 11:50AM
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 Saba Realty
Investment Insights
Based on property information with market context.
Located at 502 W Br St in Lantana’s Greynolds Highlands, this single-story triplex contains 2,204 square feet of finished living space. The unit mix includes a 3BR/2BA residence, a 1BR/1BA residence, and a studio apartment, providing three distinct living configurations within one property.
Built in 1972, the property includes new impact windows and a well serving irrigation needs. The single-level design supports straightforward access throughout the building. Walk Score is 53, rated Somewhat Walkable, while Bike Score is 69, rated Bikeable.
Built in 1972, the property includes new impact windows and a well serving irrigation needs. The single-level design supports straightforward access throughout the building. Walk Score is 53, rated Somewhat Walkable, while Bike Score is 69, rated Bikeable.
Key Highlights
- 2,204 square feet of finished living space
- Unit mix includes 3BR/2BA, 1BR/1BA, and a Studio Apt.
- Single‑story triplex configuration
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
$36,740
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
4.80%
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%
$734,800
$734.8K
Cap Rate 7%
$524,857
$524.9K
Cap Rate 9%
$408,222
$408.2K
Market Conditions
NOI Build-Up for 2,204 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
$55.5K $25.20/SF
− Vacancy
−$3.1K −$1.39/SF
EGI
$52.5K $23.81/SF
− OpEx
−$15.7K −$7.14/SF
NOI
$36.7K $16.67/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$734,800
Cap Rate 7%
$524,857
Cap Rate 9%
$408,222
Alternative Uses
Best Use
Multifamily LT 5
$524.9K
$459.3K – $612.3K
NOI $36,740 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$484.2K
$423.7K – $564.9K
NOI $33,896 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,653 @ 7.0% cap · market cap 14.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,213
Businesses Nearby
Explore this area
Business Placement
Demographics for 33462, FL
33,982
Population
15,911
Households
2.1
Avg Household Size
43
Median Age
28%
College-Educated
84%
High-School Grad
8.6 sq mi
ZIP Area
3,951
Density / Sq Mi
$72,288
Median Household Income
$38,193
Median Earnings
$1,659
Median Rent
$323,600
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?
Triplex - Three-unit property with varied layouts, irrigation well, and updated impact windows.
Where is this triplex located?
The property is located at 502 W Br St Lantana, FL.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: 2,204 square feet of finished living space; Unit mix includes 3BR/2BA, 1BR/1BA, and a Studio Apt.; Single‑story triplex configuration
