Triplex with Short-Term Rental
For Sale
$895,000
1-4-1028 Ne 10th Ave, Fort Lauderdale, FL 33301
Fort Lauderdale multifamily property with an existing short-term rental component and flexible occupancy options.
Property Size2,368 SF
Price / SF$377.96
Days on Market14
Property Features for 1-4-1028 Ne 10th Ave
General Information
Standard status
Active
Size
2,368 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$15,943
Building Details
Tenancy
Multi
Listing Agency:
Preferred Florida Realty
(954) 536-7964
Listed By:
Shir Levy · License #3435778
(954) 536-7964
Source:
Exprealty
Added: Aug 18
Changed: Aug 30
Last Checked: Aug 30 at 7:03PM
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 Preferred Florida Realty
Investment Insights
Based on property information with market context.
This 2,368-square-foot triplex in Fort Lauderdale offers an income-oriented multifamily configuration with an existing short-term rental component. The property includes a three-bedroom, three-bathroom front unit and a two-bedroom, two-bathroom rear unit. Current use combines leased residential occupancy with short-term rental operations, providing flexibility for continued rental use or owner occupancy. The property is located at 1-4-1028 NE 10th Ave in Fort Lauderdale, Florida.
Key Highlights
- Configured as a triplex
- 2,368 SF property size
- Three‑bedroom, three‑bathroom front unit
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
$39,474
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
4.41%
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%
$789,480
$789.5K
Cap Rate 7%
$563,914
$563.9K
Cap Rate 9%
$438,600
$438.6K
Market Conditions
NOI Build-Up for 2,368 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
$59.7K $25.20/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$56.4K $23.81/SF
− OpEx
−$16.9K −$7.14/SF
NOI
$39.5K $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%
$789,480
Cap Rate 7%
$563,914
Cap Rate 9%
$438,600
Alternative Uses
Best Use
Multifamily LT 5
$563.9K
$493.4K – $657.9K
NOI $39,474 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$508.0K
$444.5K – $592.7K
NOI $35,559 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,391 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,090
Businesses Nearby
Explore this area
Business Placement
Demographics for 33301, FL
19,109
Population
13,955
Households
1.4
Avg Household Size
42
Median Age
62%
College-Educated
96%
High-School Grad
2.5 sq mi
ZIP Area
7,644
Density / Sq Mi
$115,421
Median Household Income
$76,365
Median Earnings
$2,341
Median Rent
$751,600
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 - Fort Lauderdale multifamily property with an existing short-term rental component and flexible occupancy options.
Where is this triplex located?
The property is located at 1-4-1028 Ne 10th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Configured as a triplex; 2,368 SF property size; Three‑bedroom, three‑bathroom front unit
