Apartment Buildings with On-Site
New
For Sale
$1,990,000
1014 NW 5th Ave, Fort Lauderdale, FL 33311
Two single-story apartment buildings offer varied unit layouts, wall air conditioning, laundry facilities, and paved parking.
Property Size7,519 SF
Days on Market6
Property Features for 1014 NW 5th Ave
General Information
Standard status
Active
Size
7,519 SF
Property subtype
Multifamily
Amenities
New Roofs - 1014 was replaced in 2024 and 1019 will be replaced in July - August 2026
Value Add Opportunity by raising Rents to Market Levers and Activating Laundry Rooms
Six-Unit Apartment Buildings Constructed in 1965-1967 just north of Sunrise Boulevard
(10) One-Bedroom Units averaging ~575sf and (2) Two-Bedroom Units averaging ~750sf
Easy access to Sunrise Boulevard, Andrews Avenue, Federal Highway, Interstate 95
Building Details
Building Size
7,519 SF
Units
12
Listing Agency:
Fort Lauderdale Office
(954) 245-3492
Listed By:
Joe Thomas · License #License(s): FL: SL3174354
(954) 245-3492
Source:
Marcusmillichap
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 7 at 12:44AM
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 Fort Lauderdale Office
Investment Insights
Based on property information with market context.
This multifamily property comprises two single-story concrete block buildings constructed between 1965 and 1967. Painted stucco exteriors, shingle roofs, wall air conditioning units, on-site laundry, and paved asphalt parking serve a 12-unit configuration. The unit mix includes 10 one-bedroom/one-bathroom apartments and 2 two-bedroom/two-bathroom apartments. The buildings contain approximately 7,519 square feet on a 20,259-square-foot lot totaling 0.47 acres. The property is zoned RD-15.
The two-building community is located near Sunrise Boulevard, Federal Highway (US-1), and Interstate 95 in Fort Lauderdale. Dunkin’, Aldi, Wawa, Walgreens Pharmacy, and Progresso Village are within walking distance, while Downtown Fort Lauderdale, area beaches, Port Everglades, the Broward County Convention Center, and Fort Lauderdale-Hollywood International Airport are accessible by a short drive. Nearby educational facilities include North Side Elementary School, Fort Lauderdale High School, Sunrise Middle School, and Dillard 6-12.
The two-building community is located near Sunrise Boulevard, Federal Highway (US-1), and Interstate 95 in Fort Lauderdale. Dunkin’, Aldi, Wawa, Walgreens Pharmacy, and Progresso Village are within walking distance, while Downtown Fort Lauderdale, area beaches, Port Everglades, the Broward County Convention Center, and Fort Lauderdale-Hollywood International Airport are accessible by a short drive. Nearby educational facilities include North Side Elementary School, Fort Lauderdale High School, Sunrise Middle School, and Dillard 6-12.
Key Highlights
- 12‑unit apartment community across two buildings
- 10 one‑bedroom/one‑bathroom units and 2 two‑bedroom/two‑bathroom units
- Approximately 7,519 square feet on a 20,259‑square‑foot lot
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
$112,908
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
5.67%
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%
$2,258,160
$2.3M
Cap Rate 7%
$1,612,971
$1.6M
Cap Rate 9%
$1,254,533
$1.3M
Market Conditions
NOI Build-Up for 7,519 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
$216.5K $28.80/SF
− Vacancy
−$11.3K −$1.50/SF
EGI
$205.3K $27.30/SF
− OpEx
−$92.4K −$12.29/SF
NOI
$112.9K $15.02/SF
Area
Fort Lauderdale, FL
Vacancy
5.20%
Lease Rate
$28.80 /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%
$2,258,160
Cap Rate 7%
$1,612,971
Cap Rate 9%
$1,254,533
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,908 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.05M
$4.42M – $5.89M
NOI $353,694 @ 7.0% cap · market cap 17.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,250
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
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?
Apartment building - Two single-story apartment buildings offer varied unit layouts, wall air conditioning, laundry facilities, and paved parking.
Where is this apartment building located?
The property is located at 1014 NW 5th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: 12‑unit apartment community across two buildings; 10 one‑bedroom/one‑bathroom units and 2 two‑bedroom/two‑bathroom units; Approximately 7,519 square feet on a 20,259‑square‑foot lot
