Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    108 SE 23Rd St Fort Lauderdale, FL 33316

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $800,000

    Income-producing duplex with guest house in sought-after Fort Lauderdale location.

    Building Details

    Year built
    1949

    We can help!

    Listing Contact
    Marcela Santa Maria
    Source: Elliman

    Listing Agent: Marcela Santa Maria

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Updated Duplex with Guest House

    This property in Fort Lauderdale features a duplex with an income-producing guest house. The location provides quick access to the beach, Marina Mile, I-595, I-95, Fort Lauderdale-Hollywood International Airport, Port Everglades, downtown, and Las Olas, as well as various restaurants and nightlife. The main house is a spacious 2-bed, 2-bath unit with a carport and laundry room, situated on a large, fenced-in lot with room for a pool and outdoor entertaining. The guest house is a 1-bedroom, 1-bath unit with a private fenced yard, separate entrance, and dedicated parking space. Both units have been updated with a new roof, impact windows, new appliances, A/C systems, water heaters, and water-resistant, European-style kitchens.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Daycare Center Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1396995
    Latitude
    26.0934767

    Nearby Similar for Sale

    • $2,795,000
      9,196 SF

      Wilton Manors Fourplex Investment Opportunity

      Rare fourplex in Wilton Manors, ideal for investors or owner-users.
      624 NE 29 Dr, Fort Lauderdale, FL 33334
      View Details
    • New
      $800,000

      Mediterranean Revival Workspace Oasis

      Updated office property with studio, pool, and rare zoning.
      1314 SE 1St Ave, Fort Lauderdale, FL 33316
      View Details
    • $1,795,000
      0.91 Acres

      Tamarac Office Investment Opportunity

      9,828 SF office building ideal for diverse professional uses.
      7471 W Oakland Park Blvd, Fort Lauderdale, FL 33319
      View Details
    • $1,490,000

      Profitable Mediterranean Restaurant Opportunity

      Turn-key Mediterranean restaurant in Fort Lauderdale with high ratings and growth potential.
      511 SE 5Th Ave, Fort Lauderdale, FL 33301
      View Details
    • $3,800,000
      1.00 Acre

      Sunrise Industrial Building For Sale

      11,000 sq ft industrial building in Sunrise, Florida.
      4505 NW 103 Ave, Fort Lauderdale, FL 33351
      View Details
    • $1,349,000
      2,090 SF

      Lauderdale By The Sea Duplex

      Upgraded duplex near stores, restaurants, nightlife, and beach.
      4436 Sea Grape Dr, Fort Lauderdale, FL 33308
      View Details
    • $1,200,000

      Fort Lauderdale Commercial Building For Sale

      Free-standing commercial building with high visibility in prime location.
      1100 NE 4Th Ave, Fort Lauderdale, FL 33304
      View Details
    • $740,000
      1,320 SF

      Fort Lauderdale Corner-Lot Duplex

      Fully furnished, income-producing duplex with development potential in prime location.
      801 SW 10Th St, Fort Lauderdale, FL 33315
      View Details
    • $929,999
      1,488 SF

      Income-Producing Duplex in Prime Location

      Duplex in desirable Fort Lauderdale district, close to amenities.
      200 SW 9Th Ave, Fort Lauderdale, FL 33312
      View Details
    • $888,126
      2,447 SF

      Fort Lauderdale Duplex: Remodeled Income Property

      Move-in ready duplex in River Oaks with modern upgrades.
      1502 SW 24Th St, Fort Lauderdale, FL 33315
      View Details
    • New
      $2,249,000
      0.15 Acres

      Fort Lauderdale Multifamily Investment Property

      Legal 5-unit multifamily, fully renovated, turnkey short-term rental investment.
      1730 NE 7Th St, Fort Lauderdale, FL 33304
      View Details
    • New
      $2,490,000

      Turnkey Fort Lauderdale Multifamily Investment

      Fully operational 9-unit short-term rental property in prime location.
      1225 NE 15Th Ave, Fort Lauderdale, FL 33304
      View Details

    FAQs

    What type of property is this?
    Duplex - Income-producing duplex with guest house in sought-after Fort Lauderdale location.
    Where is this duplex located?
    The property is located at 108 SE 23Rd St Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: - Income-producing guest house in a sought-after Ft. Lauderdale location.; - Ideally located near 17th Street Causeway with quick access to the beach, Marina Mile, I-595, I-95, FLL Airport, Port Everglades, downtown, and Las Olas.; - Both units are updated with a new roof, impact windows, new appliances, A/C systems, water heaters, and European-style kitchens.
    (305) 439-7970
    Request Owner's contact information
    108 SE 23Rd St Fort Lauderdale, FL 33316
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    108 SE 23Rd St
    Fort Lauderdale, FL 33316
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    108 SE 23Rd St Fort Lauderdale, FL 33316
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Marcela Santa Maria
    Real Estate License ID: 3063130
    (305) 439-7970
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.