Triplex Property with Townhouse
For Sale
$824,500
1041 NE 35th St, Oakland Park, FL 33334
Residential Income, Oakland Park, FL
Property Size1,453 SF
Lot Size0.27 Acres
Price / SF$567.45
Days on Market48
Property Features for 1041 NE 35th St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
IN
Bedrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 2
Parking
10
Subdivision
OAKLAND PARK SECOND ADD
Lot features
Oversized Lot
Standard status
Active
APN
494223050740
Size
1,453 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OAKLAND PARK SECOND ADD 1-39 B LOT 24,25 BLK 46
Tax Annual Amount
11618
Legal Description
OAKLAND PARK SECOND ADD 1-39 B LOT 24,25 BLK 46
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Electric
Building Details
Year built
1926
Floors in Building
1
Flooring type
Concrete
Building materials
Block
Roof type
Built-Up
Listing Agency:
United Realty Group Inc
(954) 450-2000
Listed By:
Sergio Casali · License #3292132
(954) 901-4653
Added: Jul 30
Changed: Sep 13
Last Checked: Sep 15 at 1:06AM
MLS# A12011853
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 1,453-square-foot triplex at 1041 NE 35th St includes three bedrooms and three bathrooms. The 1926 building has block construction, concrete flooring, electric cooling, a built-up roof, and access to public sewer. Cable service is available.
The property occupies an 11,600-square-foot lot in Oakland Park, Broward County. Building code allows construction of four townhouses, adding a documented development component to the existing three-unit configuration.
The property occupies an 11,600-square-foot lot in Oakland Park, Broward County. Building code allows construction of four townhouses, adding a documented development component to the existing three-unit configuration.
Key Highlights
- 1,453‑square‑foot triplex built in 1926
- 11,600‑square‑foot lot in Oakland Park
- Building code allows construction of 4 townhouses
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
$24,221
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
2.94%
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%
$484,420
$484.4K
Cap Rate 7%
$346,014
$346.0K
Cap Rate 9%
$269,122
$269.1K
Market Conditions
NOI Build-Up for 1,453 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
$36.6K $25.20/SF
− Vacancy
−$2.0K −$1.39/SF
EGI
$34.6K $23.81/SF
− OpEx
−$10.4K −$7.14/SF
NOI
$24.2K $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%
$484,420
Cap Rate 7%
$346,014
Cap Rate 9%
$269,122
Alternative Uses
Best Use
Multifamily LT 5
$346.0K
$302.8K – $403.7K
NOI $24,221 @ 7.0% cap · market cap 2.94%
Second Best
Apartment 5plus
$319.2K
$279.3K – $372.4K
NOI $22,346 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$737.2K
$645.0K – $860.0K
NOI $51,602 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,326
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 public sewer, block construction, and an approved development path for four townhouses.
Where is this triplex located?
The property is located at 1041 NE 35th St Oakland Park, FL.
What is the asking price?
The asking price for this property is $824,500.
What are key features of this property?
This property features: 1,453‑square‑foot triplex built in 1926; 11,600‑square‑foot lot in Oakland Park; Building code allows construction of 4 townhouses
