Turnkey Duplex Near
For Sale
$529,000
626 Minnesota St, Lantana, FL 33462
Duplex near the Intracoastal and beach with recent upgrades.
Property Size1,294 SF
Days on Market257
Property Features for 626 Minnesota St
General Information
Standard status
Active
Size
1,294 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$6,407
Building Details
Building Size
1,294 SF
Year Built
1953
Stories
1
Units
2
Listing Agency:
Nautica Realty
(561) 707-7927
Listed By:
Diane M Balsara · License #302090
(561) 707-7927
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:40AM
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 Nautica Realty
Investment Insights
Based on property information with market context.
This turnkey duplex is situated in an excellent location, within walking distance of the Intracoastal Waterway and the beach. The property is also conveniently located near multiple restaurants, shops, and waterfront dining options, and offers an easy bike ride to the beach. Recent upgrades include newly installed mini-splits, a new stove, a new refrigerator, fresh paint, and numerous other improvements. Some electrical updates have been completed, and a recent four-point inspection is available. Each unit is separately metered for water and electric. Recent landscaping, a new rear patio, interior and exterior painting, and general rejuvenation have been completed. Off-street parking is available for both units. This property presents an opportunity for an owner/landlord to reside in South Florida while tenants contribute to the mortgage, or to utilize Airbnb for increased cash flow. The front patio has the potential to be enclosed as a second bedroom. Interior photos provided are of the rear unit. The property is currently occupied by tenants.
Key Highlights
- Turnkey duplex in excellent location, walking distance to Intracoastal and beach.
- Recent upgrades including mini splits, new appliances, paint, landscaping, and patio.
- Income potential: live in one unit and rent the other, or Airbnb both units.
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
$21,571
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
4.08%
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%
$431,420
$431.4K
Cap Rate 7%
$308,157
$308.2K
Cap Rate 9%
$239,678
$239.7K
Market Conditions
NOI Build-Up for 1,294 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
$32.6K $25.20/SF
− Vacancy
−$1.8K −$1.39/SF
EGI
$30.8K $23.81/SF
− OpEx
−$9.2K −$7.14/SF
NOI
$21.6K $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%
$431,420
Cap Rate 7%
$308,157
Cap Rate 9%
$239,678
Alternative Uses
Best Use
Multifamily LT 5
$308.2K
$269.6K – $359.5K
NOI $21,571 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$284.3K
$248.8K – $331.7K
NOI $19,901 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$911.3K
$797.4K – $1.06M
NOI $63,792 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,224
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex near the Intracoastal and beach with recent upgrades.
Where is this duplex located?
The property is located at 626 Minnesota St Lantana, FL.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Turnkey duplex in excellent location, walking distance to Intracoastal and beach.; Recent upgrades including mini splits, new appliances, paint, landscaping, and patio.; Income potential: live in one unit and rent the other, or Airbnb both units.
