Palm Springs Income
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3783 Coconut Road, Palm Springs, FL 33461
Six units across two triplexes in Palm Springs, Florida.
Property Size5,544 SF
Lot Size0.95 Acres
Price / SF$214.65
Days on Market736
Property Features for 3783 Coconut Road
General Information
Standard status
Active
Size
5,544 SF
Lot size
0.95 Acres
Property subtype
Special Purpose
Building Details
Year Built
1978
Units
6
Listing Agency:
LoKation
Listed By:
Gary Graves
Source:
Crexi
Added: Aug 16, 2024
Changed: Aug 10
Last Checked: Aug 19 at 7:12PM
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.
Located at 3783 Coconut Road, Palm Springs, FL 33461, this property presents an investment opportunity with 6 units situated within 2 triplexes. Each unit features spacious layouts, modern amenities, and ample natural light. The property includes a large communal yard, on-site parking, and updated interiors. The unit mix consists of two 3-bedroom, 2-bathroom units and four 2-bedroom, 2-bathroom units. The total property size is 5544 square feet on 0.95 acres. The location provides convenient access to schools, shopping, dining, major highways, and nearby attractions. Note that purchase requires being a 501c organization due to a Land Use Restriction Agreement on the property. This property is intended for rental income.
Key Highlights
- Investment opportunity: 6 units across 2 triplexes for rental income.
- Prime location: Close to schools, shopping, dining, and major highways.
- Spacious layouts with modern amenities and ample natural light in 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
$92,417
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
7.77%
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%
$1,848,340
$1.8M
Cap Rate 7%
$1,320,243
$1.3M
Cap Rate 9%
$1,026,856
$1.0M
Market Conditions
NOI Build-Up for 5,544 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
$139.7K $25.20/SF
− Vacancy
−$7.7K −$1.39/SF
EGI
$132.0K $23.81/SF
− OpEx
−$39.6K −$7.14/SF
NOI
$92.4K $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%
$1,848,340
Cap Rate 7%
$1,320,243
Cap Rate 9%
$1,026,856
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.16M – $1.54M
NOI $92,417 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$1.22M
$1.07M – $1.42M
NOI $85,263 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$3.90M
$3.42M – $4.56M
NOI $273,308 @ 7.0% cap · market cap 22.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,075
Businesses Nearby
Explore this area
Business Placement
Demographics for 33461, FL
47,161
Population
18,095
Households
2.6
Avg Household Size
36
Median Age
17%
College-Educated
75%
High-School Grad
7.1 sq mi
ZIP Area
6,642
Density / Sq Mi
$61,218
Median Household Income
$31,503
Median Earnings
$1,615
Median Rent
$263,400
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 - Six units across two triplexes in Palm Springs, Florida.
Where is this triplex located?
The property is located at 3783 Coconut Road Palm Springs, FL.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Investment opportunity: 6 units across 2 triplexes for rental income.; Prime location: Close to schools, shopping, dining, and major highways.; Spacious layouts with modern amenities and ample natural light in each unit.
