Separately Metered Duplex with
For Sale
Contact for pricing
626 Minnesota Street, Lantana, FL 33462
Mid-century modern duplex with recent upgrades, off-street parking, and separate utility metering for each unit.
Property Size1,434 SF
Price / SF$367.85
Days on Market355
Property Features for 626 Minnesota Street
General Information
Standard status
Active
Size
1,434 SF
Property subtype
Multifamily
Zoning
RM15
Net Operating Income
$30,055
Additional Details
Cap Rate
5%
Multifamily Units
2
Building Details
Year Built
1953
Units
2
Listing Agency:
Nautica Realty
(561) 707-7927
Listed By:
Diane Balsara · License #302090
Source:
Crexi
Added: Aug 18, 2025
Changed: Aug 7
Last Checked: Aug 7 at 4:00AM
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 mid-century modern duplex offers two bright, sunny residences with practical separation and recent improvements. Updates include newly installed mini splits, a new stove and refrigerator, electrical updates, freshly painted exterior, and freshly painted interiors. Each unit has its own water and electric meters. The property also includes off-street parking, recent landscaping, and a rear patio addition. The front patio could potentially be enclosed to create an additional bedroom, and the rear unit’s enclosed patio currently serves as an office or extra room separated from the living area.
The property is positioned near Intracoastal parks, with walkable access to restaurants, shops, and waterfront dining, and an easy bike ride to the beach. A recent four-point inspection is noted as available, and the current tenant situation is described as one unit on a lease and the other month-to-month. Please do not disturb tenants.
For a buyer or owner-operator, the layout supports either long-term rental or flexible use as income property. Separate metering helps each unit operate independently, while the outdoor patio spaces provide usable flexibility for office space or a potential second bedroom concept. Current occupancy details indicate manageable operations with one unit on a defined lease term and one unit on a month-to-month basis.
The property is positioned near Intracoastal parks, with walkable access to restaurants, shops, and waterfront dining, and an easy bike ride to the beach. A recent four-point inspection is noted as available, and the current tenant situation is described as one unit on a lease and the other month-to-month. Please do not disturb tenants.
For a buyer or owner-operator, the layout supports either long-term rental or flexible use as income property. Separate metering helps each unit operate independently, while the outdoor patio spaces provide usable flexibility for office space or a potential second bedroom concept. Current occupancy details indicate manageable operations with one unit on a defined lease term and one unit on a month-to-month basis.
Key Highlights
- 1953 mid‑century modern duplex with off‑street parking
- Recent upgrades include newly installed mini splits, new stove and fridge, electrical updates, and freshly painted exterior
- Each unit is separately metered for water and electric
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
$23,904
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
4.53%
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%
$478,080
$478.1K
Cap Rate 7%
$341,486
$341.5K
Cap Rate 9%
$265,600
$265.6K
Market Conditions
NOI Build-Up for 1,434 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
$36.1K $25.20/SF
− Vacancy
−$2.0K −$1.39/SF
EGI
$34.1K $23.81/SF
− OpEx
−$10.2K −$7.14/SF
NOI
$23.9K $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%
$478,080
Cap Rate 7%
$341,486
Cap Rate 9%
$265,600
Alternative Uses
Best Use
Multifamily LT 5
$341.5K
$298.8K – $398.4K
NOI $23,904 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$315.1K
$275.7K – $367.6K
NOI $22,054 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$1.01M
$883.7K – $1.18M
NOI $70,693 @ 7.0% cap · market cap 13.40%
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
1,224
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
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Frequently Asked Questions
What type of property is this?
Duplex - Mid-century modern duplex with recent upgrades, off-street parking, and separate utility metering for each unit.
Where is this duplex located?
The property is located at 626 Minnesota Street Lantana, FL.
What is the asking price?
The asking price for this property is $527,500.
What are key features of this property?
This property features: 1953 mid‑century modern duplex with off‑street parking; Recent upgrades include newly installed mini splits, new stove and fridge, electrical updates, and freshly painted exterior; Each unit is separately metered for water and electric
