Duplex with Furnished
New
For Sale
$450,000
815 BRIGGS Street, West Palm Beach, FL 33405
Six individual rental rooms have refrigerators, with central air conditioning and on-site laundry.
Property Size994 SF
Days on Market4
Property Features for 815 BRIGGS Street
General Information
Standard status
Active
Size
994 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$5,992
Amenities
Washer/Dryer
Central Air Conditioning
Refrigerator
Building Details
Building Size
994 SF
Year Built
1940
Buildings
1
Listing Agency:
Premier Brokers International
Listed By:
Derek Bober · License #3204607
(561) 460-7919
Source:
Meyerlucas
Added: Sep 28
Changed: Sep 30
Last Checked: Sep 30 at 2:16PM
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 Premier Brokers International
Investment Insights
Based on property information with market context.
Built in 1940, this duplex is configured with six separate rooms for rent and two full bathrooms. Each room includes a refrigerator, and the property has central air conditioning and an on-site washer and dryer.
A new roof is dated 2026, and the AC handler coil was replaced in 2025.
A new roof is dated 2026, and the AC handler coil was replaced in 2025.
Key Highlights
- Six individual rooms available for rent
- Two full bathrooms
- Refrigerator provided in each room
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
$18,601
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
4.13%
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%
$372,020
$372.0K
Cap Rate 7%
$265,729
$265.7K
Cap Rate 9%
$206,678
$206.7K
Market Conditions
NOI Build-Up for 994 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
$28.0K $28.20/SF
− Vacancy
−$1.5K −$1.47/SF
EGI
$26.6K $26.73/SF
− OpEx
−$8.0K −$8.02/SF
NOI
$18.6K $18.71/SF
Area
West Palm Beach, FL
Vacancy
5.20%
Lease Rate
$28.20 /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%
$372,020
Cap Rate 7%
$265,729
Cap Rate 9%
$206,678
Alternative Uses
Best Use
Multifamily LT 5
$265.7K
$232.5K – $310.0K
NOI $18,601 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$247.1K
$216.3K – $288.3K
NOI $17,300 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$700.0K
$612.5K – $816.7K
NOI $49,002 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,172
Businesses Nearby
Explore this area
Business Placement
Demographics for 33405, FL
19,369
Population
9,557
Households
2
Avg Household Size
41
Median Age
34%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
4,304
Density / Sq Mi
$82,945
Median Household Income
$46,450
Median Earnings
$1,432
Median Rent
$401,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Six individual rental rooms have refrigerators, with central air conditioning and on-site laundry.
Where is this duplex located?
The property is located at 815 BRIGGS Street West Palm Beach, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Six individual rooms available for rent; Two full bathrooms; Refrigerator provided in each room
