One-Story
For Sale
$699,000
1-3-805 Ne 40th St, Oakland Park, FL 33334
Three-unit residential property with a single-level layout in Oakland Park.
Property Size1,590 SF
Price / SF$439.62
Days on Market78
Property Features for 1-3-805 Ne 40th St
General Information
Standard status
Active
Size
1,590 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,287
Building Details
Buildings
1
Stories
1
Listing Agency:
Grandiose Real Estate LLC
(954) 650-0597
Listed By:
Brian J McCarthy · License #3213610
(954) 258-1435
Source:
Exprealty
Added: Jun 19
Changed: Sep 2
Last Checked: Sep 2 at 1:17AM
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 Grandiose Real Estate LLC
Investment Insights
Based on property information with market context.
This one-story triplex contains 1,590 square feet of finished living space and is configured as a three-unit residential property. The single-level design provides a straightforward physical arrangement for the asset.
The property is located at 1-3-805 NE 40th St in Oakland Park, Florida, placing the three-unit residence within the Oakland Park community. Its finished interior area and triplex configuration provide the defining characteristics for evaluating this multifamily property.
The property is located at 1-3-805 NE 40th St in Oakland Park, Florida, placing the three-unit residence within the Oakland Park community. Its finished interior area and triplex configuration provide the defining characteristics for evaluating this multifamily property.
Key Highlights
- Three‑unit triplex configuration
- 1,590 square feet of finished living space
- One‑story residential layout
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
$26,505
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
3.79%
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%
$530,100
$530.1K
Cap Rate 7%
$378,643
$378.6K
Cap Rate 9%
$294,500
$294.5K
Market Conditions
NOI Build-Up for 1,590 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
$40.1K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$37.9K $23.81/SF
− OpEx
−$11.4K −$7.14/SF
NOI
$26.5K $16.67/SF
Area
Broward County, 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%
$530,100
Cap Rate 7%
$378,643
Cap Rate 9%
$294,500
Alternative Uses
Best Use
Multifamily LT 5
$378.6K
$331.3K – $441.8K
NOI $26,505 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$349.3K
$305.7K – $407.6K
NOI $24,453 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$806.7K
$705.8K – $941.1K
NOI $56,467 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,775
Businesses Nearby
Explore this area
Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
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?
Triplex - Three-unit residential property with a single-level layout in Oakland Park.
Where is this triplex located?
The property is located at 1-3-805 Ne 40th St Oakland Park, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Three‑unit triplex configuration; 1,590 square feet of finished living space; One‑story residential layout
