Duplex with Separate
For Sale
$569,500
516 Nathan Hale Road, West Palm Beach, FL 33405
Two residential units offer distinct appliances, laundry, air conditioning, and water-heating equipment.
Property Size990 SF
Days on Market61
Property Features for 516 Nathan Hale Road
General Information
Standard status
Active
Size
990 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
impact windows
separate meters
in-unit washer/dryer
hardwood floors
Building Details
Building Size
990 SF
Year Built
1926
Stories
1
Listing Agency:
Re/Max Rex
(561) 856-9556
Listed By:
Rosario Lewin · License #3456226
Source:
Neilpicart.kw
Added: Jun 30
Changed: Aug 27
Last Checked: Aug 28 at 7:22AM
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 Rex
Investment Insights
Based on property information with market context.
Built in 1926, this duplex contains two separately metered residences with dedicated appliances, air-conditioning equipment, water heaters, and impact windows. The front home includes three bedrooms, one bathroom, hardwood flooring, a white kitchen with stainless steel appliances, and an in-unit washer and dryer. Its water heater dates to 2020. The rear residence has two bedrooms and one bathroom, along with its own washer and dryer, and is currently rented.
The property is located at 516 Nathan Hale Road in West Palm Beach, near US-1 and I-95. Downtown West Palm Beach, shopping, dining, and the beach are also within the surrounding area. The configuration supports occupancy of one unit while the other remains rented, or rental of both residences.
The property is located at 516 Nathan Hale Road in West Palm Beach, near US-1 and I-95. Downtown West Palm Beach, shopping, dining, and the beach are also within the surrounding area. The configuration supports occupancy of one unit while the other remains rented, or rental of both residences.
Key Highlights
- Two‑unit duplex with separate meters for each residence
- Front unit offers 3 bedrooms, 1 bath, hardwood floors, stainless steel appliances, and in‑unit laundry
- Rear unit includes 2 bedrooms, 1 bath, and its own washer and dryer; currently rented
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
$18,526
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
3.25%
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%
$370,520
$370.5K
Cap Rate 7%
$264,657
$264.7K
Cap Rate 9%
$205,844
$205.8K
Market Conditions
NOI Build-Up for 990 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
$27.9K $28.20/SF
− Vacancy
−$1.5K −$1.47/SF
EGI
$26.5K $26.73/SF
− OpEx
−$7.9K −$8.02/SF
NOI
$18.5K $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%
$370,520
Cap Rate 7%
$264,657
Cap Rate 9%
$205,844
Alternative Uses
Best Use
Multifamily LT 5
$264.7K
$231.6K – $308.8K
NOI $18,526 @ 7.0% cap · market cap 3.25%
Second Best
Apartment 5plus
$246.1K
$215.4K – $287.2K
NOI $17,230 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$697.2K
$610.1K – $813.4K
NOI $48,805 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
963
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer distinct appliances, laundry, air conditioning, and water-heating equipment.
Where is this duplex located?
The property is located at 516 Nathan Hale Road West Palm Beach, FL.
What is the asking price?
The asking price for this property is $569,500.
What are key features of this property?
This property features: Two‑unit duplex with separate meters for each residence; Front unit offers 3 bedrooms, 1 bath, hardwood floors, stainless steel appliances, and in‑unit laundry; Rear unit includes 2 bedrooms, 1 bath, and its own washer and dryer; currently rented
