Corner Lot Duplex with Impact
For Sale
Contact for pricing
528 Churchill Road, West Palm Beach, FL 33405
Fully occupied duplex with impact windows and a roof replaced about five years ago, offering two tenant-occupied units and a large yard.
Property Size1,699 SF
Price / SF$332.55
Days on Market143
Property Features for 528 Churchill Road
General Information
Standard status
Active
Size
1,699 SF
Property subtype
Multifamily
Zoning
SF7
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
1925
Tenancy
Multi
Listing Agency:
EXP Realty LLC
(954) 543-1063
Listed By:
Rose Chery · License #3632807
Source:
Crexi
Added: Mar 29
Changed: Aug 8
Last Checked: Jun 20 at 4:51AM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This classic 1925-built duplex is configured as two tenant-occupied units within approximately 1,644 square feet. The property sits on a corner lot and includes a huge yard. Major upgrades are already in place, including a roof replacement about five years ago and impact windows throughout, supporting a more secure, updated exterior envelope.
The home is located in West Palm Beach’s South End area, with convenient access to Downtown West Palm Beach, the Intracoastal, Antique Row, and PBI Airport, all described as minutes away from the property.
For buyers looking for an income-producing property or the option to house-hack, the current setup provides two separately occupied units while preserving a residential feel with outdoor space. The duplex is shown by appointment only and tenants must not be disturbed. Proof of funds or pre-approval is required prior to scheduling.
The home is located in West Palm Beach’s South End area, with convenient access to Downtown West Palm Beach, the Intracoastal, Antique Row, and PBI Airport, all described as minutes away from the property.
For buyers looking for an income-producing property or the option to house-hack, the current setup provides two separately occupied units while preserving a residential feel with outdoor space. The duplex is shown by appointment only and tenants must not be disturbed. Proof of funds or pre-approval is required prior to scheduling.
Key Highlights
- Fully occupied duplex in West Palm Beach (South End) with two tenant‑occupied units totaling 1,644 sq ft
- Corner lot with a huge yard on 6,386 sq ft total lot size
- Roof replaced about 5 years ago
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
$31,794
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
5.63%
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%
$635,880
$635.9K
Cap Rate 7%
$454,200
$454.2K
Cap Rate 9%
$353,267
$353.3K
Market Conditions
NOI Build-Up for 1,699 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
$47.9K $28.20/SF
− Vacancy
−$2.5K −$1.47/SF
EGI
$45.4K $26.73/SF
− OpEx
−$13.6K −$8.02/SF
NOI
$31.8K $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%
$635,880
Cap Rate 7%
$454,200
Cap Rate 9%
$353,267
Alternative Uses
Best Use
Multifamily LT 5
$454.2K
$397.4K – $529.9K
NOI $31,794 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$422.4K
$369.6K – $492.8K
NOI $29,570 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,757 @ 7.0% cap · market cap 14.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
962
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 - Fully occupied duplex with impact windows and a roof replaced about five years ago, offering two tenant-occupied units and a large yard.
Where is this duplex located?
The property is located at 528 Churchill Road West Palm Beach, FL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Fully occupied duplex in West Palm Beach (South End) with two tenant‑occupied units totaling 1,644 sq ft; Corner lot with a huge yard on 6,386 sq ft total lot size; Roof replaced about 5 years ago
