Building Details

Building Size 2,908 SF

Year Built 1981

Buildings 1

Tenancy Multi

Listing Agency: ERA Neubauer Real Estate Inc

Listed By: Alona A Brown · License #SL3617417 Show Phone

Source: Indianspringsfl

Added: Aug 7 Changed: Oct 27 Last Checked: Oct 26 at 3:52PM

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Investment Insights

Based on property information with market context.

This 2,908-square-foot triplex contains three occupied residences, each configured with two bedrooms and two bathrooms. The property totals six bedrooms and six bathrooms. A metal roof was installed in 2022, and two air conditioning units are described as newer.

Located in Lynn Haven, the property is near schools, shops, dining, community parks, and boat ramps.

Key Highlights

• Three occupied units
• Each unit has two bedrooms and two bathrooms
• 2,908 square feet across six bedrooms and six bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,942

Cap Rate

5.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$618,840 $618.8K

Cap Rate 7%

$442,029 $442.0K

Cap Rate 9%

$343,800 $343.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,908 SF

Gross rent

$47.1K $16.20/SF

− Vacancy

−$2.9K −$1.00/SF

EGI

$44.2K $15.20/SF

− OpEx

−$13.3K −$4.56/SF

NOI

$30.9K $10.64/SF

Area

Bay County, FL

Vacancy

6.17%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$618,840

Cap Rate 7%

$442,029

Cap Rate 9%

$343,800

Alternative Uses

Best Use

Multifamily LT 5

$442.0K

$386.8K – $515.7K (±1% cap)

NOI $30,942 @ 7.0% cap · market cap 5.68%

Second Best

Apartment 5plus

$405.1K

$354.4K – $472.6K (±1% cap)

NOI $28,354 @ 7.0% cap · market cap 5.20%

Theoretical Best

Office A

$847.3K

$741.4K – $988.5K (±1% cap)

NOI $59,310 @ 7.0% cap · market cap 10.88%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

3

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

303

Businesses Nearby

Explore this area Business Placement

Demographics for 32444, FL

19,913

Population

8,632

Households

2.3

Avg Household Size

41

Median Age

32%

College-Educated

92%

High-School Grad

9.8 sq mi

ZIP Area

2,032

Density / Sq Mi

$89,508

Median Household Income

$42,348

Median Earnings

$1,494

Median Rent

$292,700

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - All three residences are occupied, with a two-bedroom, two-bathroom layout in each unit.

Where is this triplex located?

The property is located at 917 Bradford Circle Lynn Haven, FL.

What is the asking price?

The asking price for this property is $545,000.

What are key features of this property?

This property features: Three occupied units; Each unit has two bedrooms and two bathrooms; 2,908 square feet across six bedrooms and six bathrooms