Single-Story
For Sale
$889,000
9287 SUNRISE Drive, West Palm Beach, FL 33403
Two residential units occupy one parcel under RM zoning in West Palm Beach.
Property Size1,820 SF
Price / SF$488.46
Days on Market12
Property Features for 9287 SUNRISE Drive
General Information
Standard status
Active
Size
1,820 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,960
Building Details
Building Size
1,820 SF
Year Built
1973
Stories
1
Listing Agency:
Coldwell Banker Realty
(772) 285-0507
Listed By:
Della McClain · License #3508184
(772) 285-0507
Source:
Pposf
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 29 at 3:58PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This one-story duplex contains 1,820 square feet of finished space and places two residential units on a single parcel. The property was built in 1973 and is designated RM zoning.
Located at 9287 Sunrise Drive in West Palm Beach, the asset offers a straightforward duplex configuration within the Goolsby Sub subdivision. Its compact, single-level arrangement provides a clearly defined residential income property format.
Located at 9287 Sunrise Drive in West Palm Beach, the asset offers a straightforward duplex configuration within the Goolsby Sub subdivision. Its compact, single-level arrangement provides a clearly defined residential income property format.
Key Highlights
- 1,820 square feet of finished space
- Two‑unit residential configuration on one parcel
- Single‑story building
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
$34,059
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
3.83%
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%
$681,180
$681.2K
Cap Rate 7%
$486,557
$486.6K
Cap Rate 9%
$378,433
$378.4K
Market Conditions
NOI Build-Up for 1,820 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
$51.3K $28.20/SF
− Vacancy
−$2.7K −$1.47/SF
EGI
$48.7K $26.73/SF
− OpEx
−$14.6K −$8.02/SF
NOI
$34.1K $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%
$681,180
Cap Rate 7%
$486,557
Cap Rate 9%
$378,433
Alternative Uses
Best Use
Multifamily LT 5
$486.6K
$425.7K – $567.7K
NOI $34,059 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$452.5K
$396.0K – $527.9K
NOI $31,676 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,722 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 33403, FL
13,779
Population
5,906
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
3.3 sq mi
ZIP Area
4,175
Density / Sq Mi
$69,050
Median Household Income
$34,019
Median Earnings
$1,426
Median Rent
$340,100
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?
Duplex - Two residential units occupy one parcel under RM zoning in West Palm Beach.
Where is this duplex located?
The property is located at 9287 SUNRISE Drive West Palm Beach, FL.
What is the asking price?
The asking price for this property is $889,000.
What are key features of this property?
This property features: 1,820 square feet of finished space; Two‑unit residential configuration on one parcel; Single‑story building
