3-Unit Multifamily
For Sale
$545,000
917 Bradford Circle, Lynn Haven, FL 32444
Residential, Lynn Haven, FL
Property Size2,908 SF
Price / SF$187.41
Days on Market48
Property Features for 917 Bradford Circle
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 4, Bathroom 6, Bathroom 2, Bathroom 1, Bathroom 5, Bedroom 5, Bedroom 6, Bedroom 4
Subdivision
Lynn Haven
Elementary school
Hiland Park
Middle school
Mowat
High school
Mosley
Directions
From Hwy 390 and Jenks Ave., go south on Jenks Ave. to left on Bradford Circle, property will be on your right.
Standard status
Active
APN
11678-558-000
Size
2,908 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
BELAIRE ESTATES UNIT 3 (11.1) E 25.33' LOT 11 BLK B MAP 90A ORB 4838 P 521
Tax Annual Amount
1538
Legal Description
BELAIRE ESTATES UNIT 3 (11.1) E 25.33' LOT 11 BLK B MAP 90A ORB 4838 P 521
Building Details
Year built
1981
Listing Agency:
ERA Neubauer Real Estate Inc · ERA Real Estate
(850) 785-1551
Listed By:
Alona A Brown · License #SL3617417
(850) 276-0903
Added: Aug 7
Changed: Sep 12
Last Checked: Sep 22 at 11:06PM
MLS# 793726
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 917 Bradford Circle in Lynn Haven, this 2,908-square-foot triplex contains three residential units with a consistent two-bedroom, two-bathroom layout. The property provides six bedrooms and six bathrooms in total, and all three units are currently occupied. Built in 1981, the building includes a metal roof installed in 2022 and two newer air-conditioning units.
The property is near Lynn Haven schools, shopping, dining, community parks, and boat ramps. Its location in Bay County places residents within convenient reach of everyday services and recreational options while maintaining a clearly defined three-unit configuration.
The property is near Lynn Haven schools, shopping, dining, community parks, and boat ramps. Its location in Bay County places residents within convenient reach of everyday services and recreational options while maintaining a clearly defined three-unit configuration.
Key Highlights
- Three‑unit property with all units currently occupied
- 2,908 square feet with 6 bedrooms and 6 bathrooms
- Each unit includes 2 bedrooms and 2 bathrooms
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
$30,942
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
5.68%
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%
$618,840
$618.8K
Cap Rate 7%
$442,029
$442.0K
Cap Rate 9%
$343,800
$343.8K
Market Conditions
NOI Build-Up for 2,908 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
$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 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%
$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
NOI $30,942 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$405.1K
$354.4K – $472.6K
NOI $28,354 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$847.3K
$741.4K – $988.5K
NOI $59,310 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Occupied triplex with matching two-bedroom, two-bathroom units and recent roof and air-conditioning updates.
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‑unit property with all units currently occupied; 2,908 square feet with 6 bedrooms and 6 bathrooms; Each unit includes 2 bedrooms and 2 bathrooms
