Apartment Building With
New
For Sale
$930,000
4020 NW 31st Ter, Lauderdale Lakes, FL 33309
COMMERCIAL - Lauderdale Lakes, FL
Property Size3,534 SF
Lot Size0.20 Acres
Price / SF$263.16
Days on Market2
Property Features for 4020 NW 31st Ter
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
RM-16
Parking
5
Parking features
Assigned, Guest
Subdivision
3550
Standard status
Active
APN
494219152169
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ORIOLE ESTATES SEC 8 65-9 B TR B S 75 OF N 450 OF W 118
Tax Annual Amount
11039
Legal Description
ORIOLE ESTATES SEC 8 65-9 B TR B S 75 OF N 450 OF W 118
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
central A/C
fenced shared courtyard/yard
Building Details
Year built
1971
Floors in Building
1
Number of units
5
Flooring type
Tile
Building materials
Block
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Benson Paul PA · License #3370893
(954) 303-2673
Added: Aug 18
Last Checked: Aug 19 at 1:06AM
MLS# A12058411
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 single-story apartment building in Lauderdale Lakes contains five units: three two-bedroom, one-bath residences, one one-bedroom, one-bath residence, and one studio. The property includes approximately 3,534 SF of building area on an approximately 8,850 SF lot, with central A/C, tile flooring, block construction, and a fenced shared courtyard and yard. Eight parking spaces include assigned resident parking and two guest spaces.
Four of the five units are currently occupied. Residents pay their own electricity, while ownership covers water and trash. The property has public water and public sewer, no HOA, and was built in 1971. It is approximately 5 minutes from I-95 and 15 minutes from downtown Ft Lauderdale. The sale is offered AS-IS.
Four of the five units are currently occupied. Residents pay their own electricity, while ownership covers water and trash. The property has public water and public sewer, no HOA, and was built in 1971. It is approximately 5 minutes from I-95 and 15 minutes from downtown Ft Lauderdale. The sale is offered AS-IS.
Key Highlights
- Five units: three 2‑bedroom/1‑bath, one 1‑bedroom/1‑bath, and one studio
- Approximately 3,534 SF building area on an approximately 8,850 SF lot
- Four of 5 units currently occupied
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
$54,351
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
5.84%
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%
$1,087,020
$1.1M
Cap Rate 7%
$776,443
$776.4K
Cap Rate 9%
$603,900
$603.9K
Market Conditions
NOI Build-Up for 3,534 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
$103.5K $29.28/SF
− Vacancy
−$4.7K −$1.32/SF
EGI
$98.8K $27.96/SF
− OpEx
−$44.5K −$12.58/SF
NOI
$54.4K $15.38/SF
Area
Broward County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,087,020
Cap Rate 7%
$776,443
Cap Rate 9%
$603,900
Alternative Uses
Best Use
Apartment 5plus
$776.4K
$679.4K – $905.9K
NOI $54,351 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,506 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
80%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
Explore this area
Business Placement
Demographics for 33309, FL
37,642
Population
14,783
Households
2.5
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
9.7 sq mi
ZIP Area
3,881
Density / Sq Mi
$73,496
Median Household Income
$35,850
Median Earnings
$1,829
Median Rent
$309,100
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?
Apartment building - Single-story five-unit property with central A/C, assigned parking, and a fenced shared courtyard.
Where is this apartment building located?
The property is located at 4020 NW 31st Ter Lauderdale Lakes, FL.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: Five units: three 2‑bedroom/1‑bath, one 1‑bedroom/1‑bath, and one studio; Approximately 3,534 SF building area on an approximately 8,850 SF lot; Four of 5 units currently occupied
