Lake Worth Beach
For Sale
$635,000
714 4th Ave N, Lake Worth, FL 33460
Triplex near Downtown Lake Worth Beach with flexible unit mix.
Property Size2,354 SF
Lot Size0.08 Acres
Price / SF$269.75
Days on Market137
Property Features for 714 4th Ave N
General Information
Standard status
Active
Size
2,354 SF
Lot size
0.08 Acres
Property subtype
Multifamily
Occupancy
96%
Amenities
Located near Downtown Lake Worth Beach, the Intracoastal, and Lake Worth Beach Park
Strong rental demand in a walkable, supply-constrained coastal submarket
3-unit property with a diverse unit mix (2/2, 2/1, and 1/1)
Building Details
Building Size
2,354 SF
Units
3
Listing Agency:
Home Sold Realty LLC
(954) 245-3494
Listed By:
River Rhoads · License #License(s): FL: SL3509795
(954) 245-3494
Source:
Marcusmillichap
Added: Apr 15
Changed: Aug 23
Last Checked: Aug 29 at 5:45AM
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 Home Sold Realty LLC
Investment Insights
Based on property information with market context.
Constructed in 1952, this property offers 2,354 gross square feet of space on a 0.08-acre lot. The building features wood frame construction and a flat built-up roof. The unit mix includes one two-bedroom/two-bathroom unit, one two-bedroom/one-bathroom unit, and one one-bedroom/one-bathroom unit, providing a flexible layout suitable for various tenant preferences. This varied unit mix offers both larger floorplans and smaller, more affordable options within a compact footprint. Situated just north of Downtown Lake Worth Beach, the property allows convenient access to the dining, retail, and entertainment options along Lake Avenue, as well as the Intracoastal Waterway and Lake Worth Beach Park. Local employment opportunities are available at JFK Medical Center, municipal offices, and service-based businesses throughout Palm Beach County. The location has a bike score of 57, indicating it is bikeable, and a walk score of 67, indicating it is somewhat walkable.
Key Highlights
- Prime location just north of Downtown Lake Worth Beach, offering convenient access to dining, retail, entertainment, the Intracoastal Waterway, and Lake Worth Beach Park.
- Flexible unit mix consisting of one 2‑bedroom/2‑bathroom, one 2‑bedroom/1‑bathroom, and one 1‑bedroom/1‑bathroom unit.
- Total building size of 2,354 square feet on a 0.08‑acre lot.
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
$39,241
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
6.18%
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%
$784,820
$784.8K
Cap Rate 7%
$560,586
$560.6K
Cap Rate 9%
$436,011
$436.0K
Market Conditions
NOI Build-Up for 2,354 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
$59.3K $25.20/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$56.1K $23.81/SF
− OpEx
−$16.8K −$7.14/SF
NOI
$39.2K $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%
$784,820
Cap Rate 7%
$560,586
Cap Rate 9%
$436,011
Alternative Uses
Best Use
Multifamily LT 5
$560.6K
$490.5K – $654.0K
NOI $39,241 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$517.2K
$452.5K – $603.4K
NOI $36,203 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $116,047 @ 7.0% cap · market cap 18.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,955
Businesses Nearby
Explore this area
Business Placement
Demographics for 33460, FL
36,409
Population
14,769
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
72%
High-School Grad
4.7 sq mi
ZIP Area
7,747
Density / Sq Mi
$61,702
Median Household Income
$32,388
Median Earnings
$1,411
Median Rent
$333,200
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?
Triplex - Triplex near Downtown Lake Worth Beach with flexible unit mix.
Where is this triplex located?
The property is located at 714 4th Ave N Lake Worth, FL.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Prime location just north of Downtown Lake Worth Beach, offering convenient access to dining, retail, entertainment, the Intracoastal Waterway, and Lake Worth Beach Park.; Flexible unit mix consisting of one 2‑bedroom/2‑bathroom, one 2‑bedroom/1‑bathroom, and one 1‑bedroom/1‑bathroom unit.; Total building size of 2,354 square feet on a 0.08‑acre lot.
