12-Unit Apartment
For Sale
$2,940,000
1111 Tequesta St, Fort Lauderdale, FL 33312
Income-producing multifamily asset with RML-25 zoning and aligned Medium-High Density Future Land Use.
Property Size7,839 SF
Lot Size0.40 Acres
Price / SF$375.05
Days on Market176
Property Features for 1111 Tequesta St
General Information
Standard status
Active
Size
7,839 SF
Lot size
0.40 Acres
Zoning
RML-25
Additional Details
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$37,280
Building Details
Year Built
1976
Buildings
1
Listing Agency:
Miami Connections Realty LLC
(786) 683-3593
Listed By:
Melina Grinberg · License #3366071
(786) 683-3593
Source:
Exprealty
Added: Mar 9
Changed: Aug 30
Last Checked: Aug 30 at 7:53PM
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 Miami Connections Realty LLC
Investment Insights
Based on property information with market context.
This income-producing multifamily property includes a 12-unit apartment building totaling 7,839 square feet. The improvements were built in 1976 and occupy a 17,499-square-foot lot, or 0.40 acres.
The property is located at 1111 Tequesta St in Fort Lauderdale, minutes from Downtown Fort Lauderdale and Las Olas, with access to major transportation corridors. Zoning is RML-25, and the property carries a Medium-High Density Future Land Use designation; the two designations are aligned. The existing apartment use and land-use framework support continued operation along with future renovation, repositioning, or redevelopment considerations.
The property is located at 1111 Tequesta St in Fort Lauderdale, minutes from Downtown Fort Lauderdale and Las Olas, with access to major transportation corridors. Zoning is RML-25, and the property carries a Medium-High Density Future Land Use designation; the two designations are aligned. The existing apartment use and land-use framework support continued operation along with future renovation, repositioning, or redevelopment considerations.
Key Highlights
- 12‑unit multifamily building totaling 7,839 SF
- 17,499 SF lot totaling 0.40 acres
- Built in 1976 and currently operating as an income‑producing asset
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
$117,713
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
4.00%
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%
$2,354,260
$2.4M
Cap Rate 7%
$1,681,614
$1.7M
Cap Rate 9%
$1,307,922
$1.3M
Market Conditions
NOI Build-Up for 7,839 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
$225.8K $28.80/SF
− Vacancy
−$11.7K −$1.50/SF
EGI
$214.0K $27.30/SF
− OpEx
−$96.3K −$12.29/SF
NOI
$117.7K $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%
$2,354,260
Cap Rate 7%
$1,681,614
Cap Rate 9%
$1,307,922
Alternative Uses
Best Use
Apartment 5plus
$1.68M
$1.47M – $1.96M
NOI $117,713 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.27M
$4.61M – $6.15M
NOI $368,747 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,924
Businesses Nearby
Explore this area
Business Placement
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Income-producing multifamily asset with RML-25 zoning and aligned Medium-High Density Future Land Use.
Where is this apartment building located?
The property is located at 1111 Tequesta St Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,940,000.
What are key features of this property?
This property features: 12‑unit multifamily building totaling 7,839 SF; 17,499 SF lot totaling 0.40 acres; Built in 1976 and currently operating as an income‑producing asset
