Leased Fourplex with Block
For Sale
$920,000
1417 NE 5th Ave, Fort Lauderdale, FL 33304
Residential Income, Fort Lauderdale, FL
Property Size2,571 SF
Price / SF$357.84
Days on Market58
Property Features for 1417 NE 5th Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
RM-15
Bedrooms
5
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 4, Bathroom 2
Parking
6
Subdivision
PROGRESSO
Lot features
< 1/4 Acre
Standard status
Active
APN
494234020690
Size
2,571 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
PROGRESSO 2-18 D LOT 8 BLK 57
Tax Annual Amount
11692
Legal Description
PROGRESSO 2-18 D LOT 8 BLK 57
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1965
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
e-Wing Realty, Inc
(954) 345-1525
Listed By:
Jessica Wing · License #696588
(954) 980-2722
Added: Jul 18
Changed: Sep 12
Last Checked: Sep 13 at 2:06PM
MLS# A12042880
Copyright © 2026 Miami 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.
This fourplex at 1417 NE 5th Ave contains 2571 square feet and was built in 1965. The property is constructed with block materials and features ceramic tile flooring, wall furnace heating, and wall or window unit cooling. A shingle roof, public sewer, and cable availability are also reported.
All units are currently leased. The property is in Fort Lauderdale near shopping, beaches, and major highways, providing an established South Florida setting for a residential income asset.
All units are currently leased. The property is in Fort Lauderdale near shopping, beaches, and major highways, providing an established South Florida setting for a residential income asset.
Key Highlights
- Fourplex with all units currently leased
- 2571 square feet on a 1965‑built property
- Block construction with ceramic tile flooring
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
$42,858
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
4.66%
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%
$857,160
$857.2K
Cap Rate 7%
$612,257
$612.3K
Cap Rate 9%
$476,200
$476.2K
Market Conditions
NOI Build-Up for 2,571 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
$64.8K $25.20/SF
− Vacancy
−$3.6K −$1.39/SF
EGI
$61.2K $23.81/SF
− OpEx
−$18.4K −$7.14/SF
NOI
$42.9K $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%
$857,160
Cap Rate 7%
$612,257
Cap Rate 9%
$476,200
Alternative Uses
Best Use
Multifamily LT 5
$612.3K
$535.7K – $714.3K
NOI $42,858 @ 7.0% cap · market cap 4.66%
Second Best
Apartment 5plus
$551.5K
$482.6K – $643.5K
NOI $38,607 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $120,940 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,920
Businesses Nearby
Explore this area
Business Placement
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit income property with current occupancy and public sewer service.
Where is this quadplex located?
The property is located at 1417 NE 5th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $920,000.
What are key features of this property?
This property features: Fourplex with all units currently leased; 2571 square feet on a 1965‑built property; Block construction with ceramic tile flooring
