Renovated Triplex With Oversized
New
For Sale
$699,000
721 FOSTER, Winter Garden, FL 34787
Fully occupied units offer individually metered electricity and tenant-paid utilities.
Property Size2,293 SF
Days on Market4
Property Features for 721 FOSTER
General Information
Standard status
Active
Size
2,293 SF
Property subtype
Investment
Occupancy
100%
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,763
Building Details
Building Size
2,293 SF
Year Built
1960
Buildings
1
Units
3
Listing Agency:
COLDWELL BANKER REALTY
(407) 446-8086
Listed By:
Monica Perlas · License #3302907
(407) 446-8086
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 21 at 1:03PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
Built in 1960, this triplex contains three renovated units and is currently fully occupied. Each residence has separate electric metering, while the property is served by city water and city sewer. Residents pay their own utilities and handle yard maintenance.
The property occupies an oversized lot in Winter Garden, within minutes of the Plant Street district’s shops, restaurants, and entertainment. The roof was replaced approximately 10 years ago. A 59 BikeScore and 58 WalkScore provide additional context for local mobility. Any future expansion, including the possibilities identified for the lot, remains subject to buyer verification of zoning and building requirements.
The property occupies an oversized lot in Winter Garden, within minutes of the Plant Street district’s shops, restaurants, and entertainment. The roof was replaced approximately 10 years ago. A 59 BikeScore and 58 WalkScore provide additional context for local mobility. Any future expansion, including the possibilities identified for the lot, remains subject to buyer verification of zoning and building requirements.
Key Highlights
- Three renovated units in a fully occupied triplex
- Oversized lot with future expansion possibilities subject to buyer verification
- Individually metered electricity for each unit
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
$30,583
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
4.38%
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%
$611,660
$611.7K
Cap Rate 7%
$436,900
$436.9K
Cap Rate 9%
$339,811
$339.8K
Market Conditions
NOI Build-Up for 2,293 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
$46.8K $20.40/SF
− Vacancy
−$3.1K −$1.35/SF
EGI
$43.7K $19.05/SF
− OpEx
−$13.1K −$5.72/SF
NOI
$30.6K $13.34/SF
Area
Orange 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%
$611,660
Cap Rate 7%
$436,900
Cap Rate 9%
$339,811
Alternative Uses
Best Use
Multifamily LT 5
$436.9K
$382.3K – $509.7K
NOI $30,583 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$402.3K
$352.0K – $469.3K
NOI $28,159 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$652.5K
$571.0K – $761.3K
NOI $45,677 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,052
Businesses Nearby
Explore this area
Business Placement
Demographics for 34787, FL
88,636
Population
33,141
Households
2.7
Avg Household Size
36
Median Age
49%
College-Educated
94%
High-School Grad
67.3 sq mi
ZIP Area
1,317
Density / Sq Mi
$114,988
Median Household Income
$53,995
Median Earnings
$1,994
Median Rent
$475,000
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?
Triplex - Fully occupied units offer individually metered electricity and tenant-paid utilities.
Where is this triplex located?
The property is located at 721 FOSTER Winter Garden, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Three renovated units in a fully occupied triplex; Oversized lot with future expansion possibilities subject to buyer verification; Individually metered electricity for each unit
