Duplex with Pool and Guest
For Sale
$870,000
1145 NE 17th Way # 2 Unit 1-2, Fort Lauderdale, FL 33304
Legal two-unit property with separate kitchens, a pool, one-car garage, and impact windows and doors.
Property Size1,593 SF
Days on Market115
Property Features for 1145 NE 17th Way # 2 Unit 1-2
General Information
Standard status
Active
Size
1,593 SF
Total Parking Spaces
1
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$15,314
Amenities
pool
impact windows and doors
Building Details
Building Size
1,593 SF
Year Built
1960
Listing Agency:
LoKation
Listed By:
Christopher B Galdieri · License #3402177
(954) 900-6062
Source:
Relinkre
Added: May 13
Changed: Sep 3
Last Checked: Sep 4 at 12:27PM
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 LoKation
Investment Insights
Based on property information with market context.
Built in 1960, this legal duplex includes a two-bedroom, two-bathroom main residence and a separate legal one-bedroom, one-bathroom guest suite with its own full kitchen. The property also features a pool, one-car garage, impact windows and doors throughout, an oversized corner lot, and a recently painted exterior. It is currently operating as a short-term rental.
The property is located in Fort Lauderdale’s Lake Ridge area, with the beach and the Galleria redevelopment nearby. Its two-unit configuration supports separate living arrangements while retaining the flexibility of a larger residential setup.
The property is located in Fort Lauderdale’s Lake Ridge area, with the beach and the Galleria redevelopment nearby. Its two-unit configuration supports separate living arrangements while retaining the flexibility of a larger residential setup.
Key Highlights
- Legal duplex with a 2BR/2BA main residence and separate 1BR/1BA guest suite
- Guest suite includes a full kitchen
- Pool, one‑car garage, and oversized corner 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
$26,555
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
3.05%
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%
$531,100
$531.1K
Cap Rate 7%
$379,357
$379.4K
Cap Rate 9%
$295,056
$295.1K
Market Conditions
NOI Build-Up for 1,593 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
$40.1K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$37.9K $23.81/SF
− OpEx
−$11.4K −$7.14/SF
NOI
$26.6K $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%
$531,100
Cap Rate 7%
$379,357
Cap Rate 9%
$295,056
Alternative Uses
Best Use
Multifamily LT 5
$379.4K
$331.9K – $442.6K
NOI $26,555 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$341.7K
$299.0K – $398.7K
NOI $23,921 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$1.07M
$936.7K – $1.25M
NOI $74,935 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Explore this area
Business Placement
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
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?
Duplex - Legal two-unit property with separate kitchens, a pool, one-car garage, and impact windows and doors.
Where is this duplex located?
The property is located at 1145 NE 17th Way # 2 Unit 1-2 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: Legal duplex with a 2BR/2BA main residence and separate 1BR/1BA guest suite; Guest suite includes a full kitchen; Pool, one‑car garage, and oversized corner lot
