Single-Story
New
For Sale
$765,000
502 W Branch Street, Lantana, FL 33462
MULTI_FAMILY - Lantana, FL
Property Size2,204 SF
Lot Size0.16 Acres
Price / SF$347.10
Days on Market5
Property Features for 502 W Branch Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R15 (city)
Bedrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 4, Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 1
Window features
Storm Window(s)
Patio and Porch features
Porch
Pets allowed
Yes, Dogs OK, Cats OK
Exterior features
Lighting, Storage
Fencing
Fenced
Subdivision
GREYNOLDS HIGHLANDS UNIT 1
Elementary school
Lantana
Middle school
Lantana Community
High school
Lake Worth
Standard status
Active
APN
40434503150160170
Size
2,204 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT 1 GREYNOLDS HIGHLANDS LTS 17 & 18 & N 10 FT OF ABND 20 FT ALLEY LYG S OF & ADJ TO BLK 16
Tax Annual Amount
10714
Legal Description
UNIT 1 GREYNOLDS HIGHLANDS LTS 17 & 18 & N 10 FT OF ABND 20 FT ALLEY LYG S OF & ADJ TO BLK 16
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Window Unit(s), Electric, Ceiling Fan(s), Wall/Window Unit(s), Central Air
Water source
Well, Public
Amenities
well for irrigation
new impact windows
Building Details
Year built
1972
Floors in Building
1
Number of units
3
Flooring type
Concrete, Engineered, Tile - Ceramic, Carpet, Vinyl
Building materials
CBS, Stucco
Roof type
Rolled Hot Mop, Shingle
Additional Structures
Storage
Listing Agency:
Saba Realty
(561) 281-6176
Listed By:
Kimberly Johnston · License #3342746
(561) 281-6176
Added: Aug 4
Changed: Aug 8
Last Checked: Aug 8 at 10:06PM
MLS# B26061522
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This single-level triplex at 502 W Branch Street comprises 2,204 square feet of finished living space across three residential units. The configuration includes a 3BR/2BA residence, a 1BR/1BA residence, and a studio apartment. Interior finishes include concrete, engineered, ceramic tile, carpet, and vinyl flooring, while central and unit-based electric cooling options are present. The property also features a porch, fencing, exterior storage, lighting, and new impact windows.
Set on a 0.16-acre lot in Lantana, the property carries R15 (city) zoning. Water service includes both a well and public supply, with public sewer available; the well supports irrigation. Constructed in 1972, the building uses CBS and stucco materials and has a combination of rolled hot mop and shingle roofing.
Set on a 0.16-acre lot in Lantana, the property carries R15 (city) zoning. Water service includes both a well and public supply, with public sewer available; the well supports irrigation. Constructed in 1972, the building uses CBS and stucco materials and has a combination of rolled hot mop and shingle roofing.
Key Highlights
- Three‑unit configuration with 3BR/2BA, 1BR/1BA, and studio residences
- 2,204 square feet of finished living space
- 0.16‑acre lot with a well for irrigation
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
653
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 - Unit mix includes a two-bedroom/two-bath residence, a one-bedroom/one-bath residence, and a studio apartment.
Where is this triplex located?
The property is located at 502 W Branch Street 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: Three‑unit configuration with 3BR/2BA, 1BR/1BA, and studio residences; 2,204 square feet of finished living space; 0.16‑acre lot with a well for irrigation
