Detached Duplex with Cottage
For Sale
$330,000
611 N Broadway, Lantana, FL 33462
Two separate residences include updated finishes, a loft-style flex area, shared laundry, and a fenced outdoor setting.
Property Size1,568 SF
Lot Size0.15 Acres
Price / SF$278.72
Days on Market8
Property Features for 611 N Broadway
General Information
Standard status
Active
Size
1,568 SF
Total Parking Spaces
2
Lot size
0.15 Acres
Property subtype
Residential Income
Zoning
R15 (cit
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,227
Amenities
shared laundry room
private exterior bath
outdoor wooden deck
Building Details
Building Size
1,568 SF
Year Built
1950
Buildings
1
Stories
1
Listing Agency:
Virtualty Real Estate
(407) 499-0240
Listed By:
Moses Nae · License #3254591
(407) 499-0240
Source:
Laerrealty
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 6:46PM
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 Virtualty Real Estate
Investment Insights
Based on property information with market context.
This detached duplex includes two distinct residences on a 0.15-acre parcel. Unit A received interior improvements in July 2026, including vinyl plank flooring and new paint, while Unit B offers a cottage-style interior with wood walls, wood flooring, a kitchen, and an upper-level loft that can function as flexible space or an office. A shared laundry room, exterior bath, wooden deck, and fenced backyard add practical amenities. The exterior was painted in July 2026, and the water heater was replaced in September 2024.
Located at 611 N Broadway in Lantana, the property is east of US-1 and minutes from Atlantic beaches, Intracoastal parks, dining, and downtown Lake Worth/Lantana. Off-street parking accommodates 2 vehicles, and the property has no HOA restrictions. Unit B is currently occupied. The property is offered AS-IS.
Located at 611 N Broadway in Lantana, the property is east of US-1 and minutes from Atlantic beaches, Intracoastal parks, dining, and downtown Lake Worth/Lantana. Off-street parking accommodates 2 vehicles, and the property has no HOA restrictions. Unit B is currently occupied. The property is offered AS-IS.
Key Highlights
- Detached duplex on a 0.15‑acre lot at 611 N Broadway, Lantana
- Unit A updated in July 2026 with vinyl plank flooring and fresh interior finishes
- Unit B features wood walls, wood floors, a kitchen, and an upper loft/flex area
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
$19,737
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
5.98%
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%
$394,740
$394.7K
Cap Rate 7%
$281,957
$282.0K
Cap Rate 9%
$219,300
$219.3K
Market Conditions
NOI Build-Up for 1,184 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
$29.8K $25.20/SF
− Vacancy
−$1.6K −$1.39/SF
EGI
$28.2K $23.81/SF
− OpEx
−$8.5K −$7.14/SF
NOI
$19.7K $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%
$394,740
Cap Rate 7%
$281,957
Cap Rate 9%
$219,300
Alternative Uses
Best Use
Multifamily LT 5
$282.0K
$246.7K – $329.0K
NOI $19,737 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$260.1K
$227.6K – $303.5K
NOI $18,209 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$833.8K
$729.6K – $972.8K
NOI $58,369 @ 7.0% cap · market cap 17.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,308
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?
Duplex - Two separate residences include updated finishes, a loft-style flex area, shared laundry, and a fenced outdoor setting.
Where is this duplex located?
The property is located at 611 N Broadway Lantana, FL.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Detached duplex on a 0.15‑acre lot at 611 N Broadway, Lantana; Unit A updated in July 2026 with vinyl plank flooring and fresh interior finishes; Unit B features wood walls, wood floors, a kitchen, and an upper loft/flex area
