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    1202 NE 3Rd Ave Fort Lauderdale, FL 33304

    View on Map
    Sponsored
    For Sale
    $1,220,000

    MULTI_FAMILY - Fort Lauderdale, FL

    Property size:
    2,927 SF
    Days on Market:
    25
    Last Refresh:
    Mar 16 at 7:06 pm

    Property Features for 1202 NE 3Rd Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Blinds
    Zoning
    RD-15
    Rooms
    Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2
    Bedrooms
    2
    APN
    494234032600
    Patio and Porch features
    Patio, Porch
    Exterior features
    Balcony
    Fencing
    Fenced
    Size
    2,927 SF

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)

    Building Details

    Year built
    1962
    Floors in Building
    1
    Number of units
    22
    Flooring type
    Vinyl, Tile
    Building materials
    Block
    Roof type
    Metal

    We can help!

    Listing Contact
    Anastasiia Luneva

    Dalton Wade, Inc. (727) 888-4175

    Listing agent Anastasiia Luneva (888) 668-8283 License #3568451

    Listing date Feb 19, 2026

    MLS# F10541362 Listing URL

    Copyright © 2026 BeachesMLS / Flexmls. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Renovated Multifamily Investment Property

    This fully renovated investment property, operating as five rentable spaces, is located just 5 minutes from Downtown Fort Lauderdale and Wilton Manors, and 10 minutes from the beach. Records indicate the property is a duplex, but it is currently configured as two studios, two one-bedroom, one-bathroom units, and one two-bedroom, one-bathroom unit. The property generates a gross monthly income of $8,800, totaling $105,600 annually. Investment highlights include a new metal roof, full impact windows and doors, and a new solar panel system that offsets operating costs. The property also features new asphalt and professional landscaping, a property-wide water filtration system, and RING cameras providing 24/7 security monitoring. The property consists of two separate buildings connected by a breezeway with a hurricane-rated roof. A gated common patio sits between the two buildings. New appliances are included, and all units have in-unit washer/dryers. An EV charger and six off-street parking spaces are available. The property size is 2,927 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.141249
    Latitude
    26.140597

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    FAQs

    What type of property is this?
    Multifamily property - Fully renovated investment property near downtown Fort Lauderdale and Wilton Manors.
    Where is this multifamily property located?
    The property is located at 1202 NE 3Rd Ave Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $1,220,000.
    What are key features of this property?
    This property features: - High Income Potential: Operating as five rentable spaces, producing $8,800/month gross income ($105,600/year).; - Prime A+ Location: Just 5 minutes to Downtown Fort Lauderdale and Wilton Manors, and 10 minutes to the beach.; - Fully Renovated with Premium Upgrades: Includes a new metal roof, full impact windows & doors, new solar panel system, new asphalt & professional landscaping.
    (727) 888-4175
    Request Owner's contact information
    1202 NE 3Rd Ave Fort Lauderdale, FL 33304
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1202 NE 3Rd Ave Fort Lauderdale, FL 33304
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    We can help!
    Listing Contact
    Anastasiia Luneva
    Real Estate License ID: 3568451
    (727) 888-4175 (888) 668-8283 (954) 673-8282
    Learn more
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