Duplex with Private
For Sale
$549,900
70-76 Griggs Ave, Casselberry, FL 32707
Two independent residences offer private garages, interior laundry, and convenient access to parks and the 17-92 corridor.
Property Size2,018 SF
Price / SF$272.50
Days on Market30
Property Features for 70-76 Griggs Ave
General Information
Standard status
Active
Size
2,018 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
in-ground pool
inside laundry room
Building Details
Year Built
1959
Buildings
1
Listing Agency:
EXP REALTY LLC
(407) 375-9142
Listed By:
Daniel Betancourt · License #3083307
Source:
Figteam
Added: Jul 31
Changed: Aug 28
Last Checked: Aug 28 at 2:59PM
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 full duplex was built in 1959 and contains two three-bedroom, two-bathroom residences, for a combined total of six bedrooms and four bathrooms. Each unit includes a private garage and an interior laundry room. One side features an in-ground pool with new privacy fencing, while terrazzo flooring extends throughout the property. Recent improvements include a newer roof with fresh decking and a new HVAC system. The kitchen in the 76 Griggs unit has been updated with white cabinetry, granite countertops, and a contemporary backsplash.
The property is located in Casselberry’s Enchanted Manor subdivision on Griggs Ave, near the 17-92 corridor. Two local parks and a dog park are within walking distance, while shopping, dining, and entertainment are accessible along the corridor. The property has no HOA.
The property is located in Casselberry’s Enchanted Manor subdivision on Griggs Ave, near the 17-92 corridor. Two local parks and a dog park are within walking distance, while shopping, dining, and entertainment are accessible along the corridor. The property has no HOA.
Key Highlights
- Full duplex with 6 bedrooms and 4 bathrooms
- One unit includes an in‑ground pool with new privacy fencing
- Each 3‑bedroom, 2‑bathroom residence has a private garage and interior laundry
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
$26,915
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
4.89%
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%
$538,300
$538.3K
Cap Rate 7%
$384,500
$384.5K
Cap Rate 9%
$299,056
$299.1K
Market Conditions
NOI Build-Up for 2,018 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
$41.2K $20.40/SF
− Vacancy
−$2.7K −$1.35/SF
EGI
$38.5K $19.05/SF
− OpEx
−$11.5K −$5.72/SF
NOI
$26.9K $13.34/SF
Area
Seminole County, FL
Vacancy
6.60%
Lease Rate
$20.40 /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%
$538,300
Cap Rate 7%
$384,500
Cap Rate 9%
$299,056
Alternative Uses
Best Use
Multifamily LT 5
$384.5K
$336.4K – $448.6K
NOI $26,915 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$354.0K
$309.8K – $413.0K
NOI $24,782 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$574.3K
$502.5K – $670.0K
NOI $40,199 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
825
Businesses Nearby
Explore this area
Business Placement
Demographics for 32707, FL
37,704
Population
17,499
Households
2.2
Avg Household Size
40
Median Age
36%
College-Educated
92%
High-School Grad
9.6 sq mi
ZIP Area
3,928
Density / Sq Mi
$66,780
Median Household Income
$40,280
Median Earnings
$1,573
Median Rent
$305,000
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 independent residences offer private garages, interior laundry, and convenient access to parks and the 17-92 corridor.
Where is this duplex located?
The property is located at 70-76 Griggs Ave Casselberry, FL.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Full duplex with 6 bedrooms and 4 bathrooms; One unit includes an in‑ground pool with new privacy fencing; Each 3‑bedroom, 2‑bathroom residence has a private garage and interior laundry
