Five-Property Multi-Family
For Sale
Contact for pricing
1026-1044 NW 7th Avenue, Fort Lauderdale, FL 33311
Five tenant-occupied residential properties with month-to-month leases and an on-site management office.
Property Size6,024 SF
Lot Size0.93 Acres
Price / SF$340.31
Days on Market120
Property Features for 1026-1044 NW 7th Avenue
General Information
Standard status
Active
Size
6,024 SF
Lot size
0.93 Acres
Property subtype
Multifamily
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
5
Building Details
Year Built
1949
Listing Agency:
Skye Louis Realty Inc
(561) 515-1277
Listed By:
Desare Kohn-Laski · License #3321605
Source:
Crexi
Added: Apr 10
Changed: Jul 10
Last Checked: Aug 6 at 4:36AM
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 Skye Louis Realty Inc
Investment Insights
Based on property information with market context.
The offering consists of five income-producing residential properties located at 1026-1044 NW 7th Avenue in downtown Fort Lauderdale. The portfolio is fully tenant-occupied, with leases written on a month-to-month basis. Public remarks indicate each tenant has maintained occupancy for at least one year, and the property also includes an on-site management office.
The buildings sit on approximately 0.93 acres and are presented as a single portfolio for sale. The current arrangement provides an operator the ability to manage multiple properties under one ownership structure, while keeping day-to-day oversight supported by the on-site management office.
For investors and operators, this portfolio may appeal as a straightforward, occupied income asset with in-place tenancy. The public remarks also note that future land use is designated CC-CMU, which may be relevant to buyers evaluating long-term redevelopment or reconfiguration scenarios under applicable local requirements. As described, the properties can be approached as separate parcels or as part of a larger-scale strategy, depending on the buyer’s plans and permitting path.
The buildings sit on approximately 0.93 acres and are presented as a single portfolio for sale. The current arrangement provides an operator the ability to manage multiple properties under one ownership structure, while keeping day-to-day oversight supported by the on-site management office.
For investors and operators, this portfolio may appeal as a straightforward, occupied income asset with in-place tenancy. The public remarks also note that future land use is designated CC-CMU, which may be relevant to buyers evaluating long-term redevelopment or reconfiguration scenarios under applicable local requirements. As described, the properties can be approached as separate parcels or as part of a larger-scale strategy, depending on the buyer’s plans and permitting path.
Key Highlights
- Five tenant‑occupied residential properties with month‑to‑month leases
- Tenants have maintained occupancy for at least one year
- On‑site management office for on‑site oversight
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
$90,458
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%
$1,809,160
$1.8M
Cap Rate 7%
$1,292,257
$1.3M
Cap Rate 9%
$1,005,089
$1.0M
Market Conditions
NOI Build-Up for 6,024 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
$173.5K $28.80/SF
− Vacancy
−$9.0K −$1.50/SF
EGI
$164.5K $27.30/SF
− OpEx
−$74.0K −$12.29/SF
NOI
$90.5K $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%
$1,809,160
Cap Rate 7%
$1,292,257
Cap Rate 9%
$1,005,089
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,458 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.05M
$3.54M – $4.72M
NOI $283,369 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,151
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 - Five tenant-occupied residential properties with month-to-month leases and an on-site management office.
Where is this apartment building located?
The property is located at 1026-1044 NW 7th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: Five tenant‑occupied residential properties with month‑to‑month leases; Tenants have maintained occupancy for at least one year; On‑site management office for on‑site oversight
