Triplex with Separate Utility
For Sale
$649,000
817 Grant Street, West Palm Beach, FL 33407
Each apartment has its own water and electric meter, with tenants responsible for their utility use.
Property Size2,096 SF
Price / SF$309.64
Days on Market33
Property Features for 817 Grant Street
General Information
Standard status
Active
Size
2,096 SF
Property subtype
Triplex
Site & Location
Neighborhood
Coleman Park
Additional Details
Individually Metered Utilities
water, electricity
Taxes and HOA fees
Annual Taxes
$8,952
Building Details
Building Size
2,096 SF
Year Built
1960
Listing Agency:
Mast Realty, Inc.
Listed By:
Marci Swatt · License #0243140
(954) 298-3553
Source:
Fraterrealty
Added: Sep 26
Changed: Oct 27
Last Checked: Oct 27 at 3:18AM
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 Mast Realty, Inc.
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Investment Insights
Based on property information with market context.
This 2,096-square-foot triplex was built in 1960 and contains three apartments. Each unit is separately metered for water and electricity, and tenants pay their own utility costs. The roof was replaced in 2005.
The property is at 817 Grant Street in West Palm Beach, near public transportation, a hospital, and downtown.
The property is at 817 Grant Street in West Palm Beach, near public transportation, a hospital, and downtown.
Key Highlights
- Three apartments in a 2,096‑square‑foot triplex
- Separate water and electric meters for each apartment
- Tenants pay their own water and electric costs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,224
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$784,480
$784.5K
Cap Rate 7%
$560,343
$560.3K
Cap Rate 9%
$435,822
$435.8K
Market Conditions
NOI Build-Up for 2,096 SF
Gross rent
$59.1K $28.20/SF
− Vacancy
−$3.1K −$1.47/SF
EGI
$56.0K $26.73/SF
− OpEx
−$16.8K −$8.02/SF
NOI
$39.2K $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 Rate 5%
$784,480
Cap Rate 7%
$560,343
Cap Rate 9%
$435,822
Alternative Uses
Best Use
Multifamily LT 5
$560.3K
$490.3K – $653.7K
NOI $39,224 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$521.1K
$456.0K – $608.0K
NOI $36,480 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,328 @ 7.0% cap · market cap 15.92%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,956
Businesses Nearby
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Business Placement
Demographics for 33407, FL
34,558
Population
15,147
Households
2.3
Avg Household Size
35
Median Age
26%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
3,491
Density / Sq Mi
$56,606
Median Household Income
$34,886
Median Earnings
$1,551
Median Rent
$290,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Each apartment has its own water and electric meter, with tenants responsible for their utility use.
Where is this triplex located?
The property is located at 817 Grant Street West Palm Beach, FL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Three apartments in a 2,096‑square‑foot triplex; Separate water and electric meters for each apartment; Tenants pay their own water and electric costs
