Well-Maintained Duplex with Two
For Sale
Contact for pricing
Pending
723 N 7th Street, Lantana, FL 33462
Two 3-bedroom, 2-bath units with dedicated laundry and driveway parking offer flexible income or owner-occupant living.
Property Size3,232 SF
Days on Market107
Property Features for 723 N 7th Street
General Information
Standard status
Pending
Size
3,232 SF
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1966
Tenancy
Multi
Listing Agency:
LoKation
(954) 336-9974
Listed By:
Adam Curtis · License #3283597
Source:
Crexi
Added: Apr 23
Changed: Jul 10
Last Checked: Jul 24 at 5:18PM
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 LoKation
Investment Insights
Based on property information with market context.
This well-maintained duplex includes two separate residential units, each offering a 3-bedroom layout with 2 full bathrooms. The configuration is designed for comfortable daily living, with generous living areas and ample natural light throughout. Each unit also features its own dedicated laundry room, adding convenience and privacy for residents. Off-street parking is provided with plenty of driveway parking for day-to-day use.
Located at 723 N 7th Street in Lantana, Florida, the property is positioned near shopping and dining, with access to major roadways. The public remarks also note that the beach is minutes away, supporting a lifestyle-oriented setting for tenants or owner occupants.
For investors, the duplex format creates two independent living spaces that can support dual rental streams. For an owner-occupant, the layout provides the option to live in one unit while renting the other, supported by the separate unit design. With its combination of two functional 3-bedroom residences, dedicated laundry, and driveway parking, this property is well suited to buyers seeking straightforward residential income or flexible multi-generational living.
Located at 723 N 7th Street in Lantana, Florida, the property is positioned near shopping and dining, with access to major roadways. The public remarks also note that the beach is minutes away, supporting a lifestyle-oriented setting for tenants or owner occupants.
For investors, the duplex format creates two independent living spaces that can support dual rental streams. For an owner-occupant, the layout provides the option to live in one unit while renting the other, supported by the separate unit design. With its combination of two functional 3-bedroom residences, dedicated laundry, and driveway parking, this property is well suited to buyers seeking straightforward residential income or flexible multi-generational living.
Key Highlights
- 1966‑built duplex with two separate units
- Each unit has 3 bedrooms and 2 full bathrooms
- Dedicated laundry rooms 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
$53,877
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
7.71%
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%
$1,077,540
$1.1M
Cap Rate 7%
$769,671
$769.7K
Cap Rate 9%
$598,633
$598.6K
Market Conditions
NOI Build-Up for 3,232 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
$81.4K $25.20/SF
− Vacancy
−$4.5K −$1.39/SF
EGI
$77.0K $23.81/SF
− OpEx
−$23.1K −$7.14/SF
NOI
$53.9K $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%
$1,077,540
Cap Rate 7%
$769,671
Cap Rate 9%
$598,633
Alternative Uses
Best Use
Multifamily LT 5
$769.7K
$673.5K – $898.0K
NOI $53,877 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$710.1K
$621.3K – $828.4K
NOI $49,706 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,331 @ 7.0% cap · market cap 22.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,249
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 - Two 3-bedroom, 2-bath units with dedicated laundry and driveway parking offer flexible income or owner-occupant living.
Where is this duplex located?
The property is located at 723 N 7th Street Lantana, 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: 1966‑built duplex with two separate units; Each unit has 3 bedrooms and 2 full bathrooms; Dedicated laundry rooms for each unit
