Duplex With Expansion
For Sale
$1,395,000
11 SW 11th Avenue, Fort Lauderdale, FL 33312
Residential Income, Fort Lauderdale, FL
Property Size2,480 SF
Lot Size0.36 Acres
Price / SF$562.50
Days on Market384
Property Features for 11 SW 11th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RMM-25
Bedrooms
2
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1
Window features
Storm Window(s)
Subdivision
Waverly Place 2-19 D
Lot features
Corner Lot, Oversized Lot
Standard status
Active
APN
504209092420
Size
2,480 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
WAVERLY PLACE 2-19 D LOT 1 THRU 5,6 E 5 & S1/2 VAC ALLEY ABUTTING SAID LOT BLK 124
Tax Annual Amount
10524
Legal Description
WAVERLY PLACE 2-19 D LOT 1 THRU 5,6 E 5 & S1/2 VAC ALLEY ABUTTING SAID LOT BLK 124
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1922
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Tile
Building materials
Frame
Roof type
Metal
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Lisa P Stephenson · License #0651548
(954) 818-2936
Added: Aug 11, 2025
Changed: Aug 29
Last Checked: Aug 29 at 8:06PM
MLS# F10519002
Copyright © 2026 BeachesMLS. 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.
This duplex property comprises two income-producing cottages totaling 2,480 square feet on approximately 0.36 acres. Built in 1922, the frame construction includes tile and vinyl flooring, central air, electric heating, a metal roof, public water, and public sewer. The existing configuration includes two bedrooms and three bathrooms.
Zoned RMM-25 for Residential Multifamily Medium High Density use, the property offers potential for a larger multifamily configuration, with the source information identifying capacity for 5+ additional multi-level units. The site is located in Fort Lauderdale’s Sailboat Bend Historic District, minutes from downtown Fort Lauderdale and the Discovery Center. The property is addressed at 11 SW 11th Avenue and includes cable availability.
Zoned RMM-25 for Residential Multifamily Medium High Density use, the property offers potential for a larger multifamily configuration, with the source information identifying capacity for 5+ additional multi-level units. The site is located in Fort Lauderdale’s Sailboat Bend Historic District, minutes from downtown Fort Lauderdale and the Discovery Center. The property is addressed at 11 SW 11th Avenue and includes cable availability.
Key Highlights
- 0.36‑acre site with 2,480 square feet of existing improvements
- Two income‑producing cottages with 2 bedrooms and 3 bathrooms
- RMM‑25 zoning: Residential Multifamily Medium High Density
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
$41,341
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
2.96%
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%
$826,820
$826.8K
Cap Rate 7%
$590,586
$590.6K
Cap Rate 9%
$459,344
$459.3K
Market Conditions
NOI Build-Up for 2,480 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
$62.5K $25.20/SF
− Vacancy
−$3.4K −$1.39/SF
EGI
$59.1K $23.81/SF
− OpEx
−$17.7K −$7.14/SF
NOI
$41.3K $16.67/SF
Area
Fort Lauderdale, 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%
$826,820
Cap Rate 7%
$590,586
Cap Rate 9%
$459,344
Alternative Uses
Best Use
Multifamily LT 5
$590.6K
$516.8K – $689.0K
NOI $41,341 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$532.0K
$465.5K – $620.7K
NOI $37,240 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$1.67M
$1.46M – $1.94M
NOI $116,659 @ 7.0% cap · market cap 8.36%
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
2,270
Businesses Nearby
Explore this area
Business Placement
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - RMM-25 zoning accommodates multifamily residential use on a historic-district property near downtown Fort Lauderdale.
Where is this duplex located?
The property is located at 11 SW 11th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 0.36‑acre site with 2,480 square feet of existing improvements; Two income‑producing cottages with 2 bedrooms and 3 bathrooms; RMM‑25 zoning: Residential Multifamily Medium High Density
