Duplex with Separate
For Sale
$527,500
626 Minnesota Street, Lantana, FL 33462
MULTI_FAMILY - Lantana, FL
Property Size1,294 SF
Price / SF$407.65
Days on Market356
Property Features for 626 Minnesota Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM15
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Window features
Blinds
Patio and Porch features
Patio, Deck
Pets allowed
Yes
Fencing
Fenced
Subdivision
LANTANA AMNDED PLAT IN
Lot features
Interior Lot
Elementary school
Lantana
Middle school
Lantana Community
High school
Lake Worth
Directions
Exit Lantana Road, East to Anna Street, turn right to Minnesota Street,and then left.
Standard status
Active
APN
40434503100070070
Size
1,294 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
AMENDED PLAT OF LANTANA LT 7 BLK 7
Tax Annual Amount
6407
Legal Description
AMENDED PLAT OF LANTANA LT 7 BLK 7
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1953
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic, Laminate
Building materials
CBS
Roof type
Tar/Gravel
Listing Agency:
Nautica Realty
(561) 734-6397
Listed By:
Diane M Balsara · License #302090
(561) 707-7927
Added: Aug 17, 2025
Changed: Aug 1
Last Checked: Aug 7 at 1:06PM
MLS# R11116439
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Duplex located at 626 Minnesota Street offers a two-unit setup with separate water and electric meters for each unit. The property was built in 1953 and features CBS construction. Flooring includes ceramic tile and laminate, with central heating and electric heating, plus central air and electric cooling. The roof is tar/gravel. Outdoor space includes patios and a deck, and the property is fenced with off-street parking.
Recent upgrades include newly installed mini splits, a new stove and refrigerator, electrical updates, and freshly painted exterior, along with new landscaping and rear patio improvements. A recent four-point is available. The front unit’s patio could be enclosed to create an additional bedroom, while the rear unit patio was enclosed and serves as an office/extra room separated from the living area.
Each unit has public water and public sewer service. Cable is available. One unit is on a lease, and the other is month-to-month.
Recent upgrades include newly installed mini splits, a new stove and refrigerator, electrical updates, and freshly painted exterior, along with new landscaping and rear patio improvements. A recent four-point is available. The front unit’s patio could be enclosed to create an additional bedroom, while the rear unit patio was enclosed and serves as an office/extra room separated from the living area.
Each unit has public water and public sewer service. Cable is available. One unit is on a lease, and the other is month-to-month.
Key Highlights
- Two‑unit duplex with separate water and electric meters
- Zoned RM15 in Lantana, FL
- Built in 1953 with CBS construction and tar/gravel roof
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
4.09%
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 4.09%
Second Best
Apartment 5plus
$284.3K
$248.8K – $331.7K
NOI $19,901 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$911.3K
$797.4K – $1.06M
NOI $63,792 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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 zoned RM15 with separately metered water and electric, fenced outdoor space, and off-street parking.
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: Two‑unit duplex with separate water and electric meters; Zoned RM15 in Lantana, FL; Built in 1953 with CBS construction and tar/gravel roof
