Renovated Furnished
For Sale
Contact for pricing
Pending
1145 NE 18th Ave, Fort Lauderdale, FL 33304
Two updated residences operate as a furnished short-term rental with a two-bedroom/two-bath and one-bedroom/one-bath layout.
Property Size1,900 SF
Days on Market201
Property Features for 1145 NE 18th Ave
General Information
Standard status
Pending
Size
1,900 SF
Property subtype
Multifamily
Zoning
RC15
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Furnished
Yes
Gross Income
$126,000
Building Details
Year Built
1948
Year Renovated
2021
Buildings
1
Units
2
Listing Agency:
THE AGENCY
(954) 837-3090
Listed By:
David Simonetta · License #3306180
Source:
Crexi
Added: Feb 10
Changed: Aug 30
Last Checked: Aug 30 at 12:52AM
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 THE AGENCY
Investment Insights
Based on property information with market context.
This 1,900-square-foot duplex, built in 1948, contains two renovated residences configured as a 2/2 and a 1/1. Both units have modern finishes, and the furniture is included, allowing the property to continue operating in its existing furnished format. The asset has been used as a short-term rental for years and carries established guest ratings.
The property is near downtown Fort Lauderdale, Wilton Manors, and the beach. RC15 zoning is reported for the site, while the combination of separate unit layouts and included furnishings supports continued use as a furnished duplex.
The property is near downtown Fort Lauderdale, Wilton Manors, and the beach. RC15 zoning is reported for the site, while the combination of separate unit layouts and included furnishings supports continued use as a furnished duplex.
Key Highlights
- Duplex with one 2/2 unit and one 1/1 unit
- 1,900 SF property built in 1948
- Both residences have been fully renovated
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
$31,673
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
2.88%
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%
$633,460
$633.5K
Cap Rate 7%
$452,471
$452.5K
Cap Rate 9%
$351,922
$351.9K
Market Conditions
NOI Build-Up for 1,900 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
$47.9K $25.20/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$45.2K $23.81/SF
− OpEx
−$13.6K −$7.14/SF
NOI
$31.7K $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%
$633,460
Cap Rate 7%
$452,471
Cap Rate 9%
$351,922
Alternative Uses
Best Use
Multifamily LT 5
$452.5K
$395.9K – $527.9K
NOI $31,673 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$407.6K
$356.6K – $475.5K
NOI $28,531 @ 7.0% cap · market cap 2.59%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,376 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,768
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 - Two updated residences operate as a furnished short-term rental with a two-bedroom/two-bath and one-bedroom/one-bath layout.
Where is this duplex located?
The property is located at 1145 NE 18th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Duplex with one 2/2 unit and one 1/1 unit; 1,900 SF property built in 1948; Both residences have been fully renovated
