Clean CO-OP Unit with
For Sale
$108,000
2106 NE 56th Ct 204, Fort Lauderdale, FL 33308
Second-floor CO-OP unit with tandem parking near beaches.
Property Size600 SF
Days on Market258
Property Features for 2106 NE 56th Ct 204
General Information
Standard status
Active
Size
600 SF
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$2,363
Building Details
Building Size
600 SF
Year Built
1966
Stories
11
Listing Agency:
Bank Home Realty
(954) 609-9254
Listed By:
Beth A Daly · License #3356976
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 13 at 11:18AM
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 Bank Home Realty
Investment Insights
Based on property information with market context.
This bright and clean second-floor walk-up CO-OP unit includes tandem parking suitable for two small cars. Cash buyers are preferred, and rentals are not permitted. Pets are not allowed. The monthly maintenance fee is $270. The property is located a few blocks west of US 1, providing convenient access to beaches, groceries, hospitals, shopping, and highways. The surrounding neighborhood is peaceful, with nearby parks and a public library. The unit features spacious rooms with dual entry from the front and rear. Additional storage space is available on the second floor for bikes and other items. Residents can enjoy a tranquil backyard, as well as a heated pool. The unit includes a Zinsco electrical panel. The roof was replaced in 2014, and the sewer lines were updated in 2023. The complex is professionally managed. The property is approximately 2.5 miles from Lauderdale by the Sea beaches and entertainment area.
Key Highlights
- Low monthly maintenance fee of $270.
- Tandem parking space that fits 2 small cars.
- Convenient location close to beaches, groceries, hospitals, shopping, and highways.**
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
$9,010
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
8.34%
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%
$180,200
$180.2K
Cap Rate 7%
$128,714
$128.7K
Cap Rate 9%
$100,111
$100.1K
Market Conditions
NOI Build-Up for 600 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
$17.3K $28.80/SF
− Vacancy
−$899 −$1.50/SF
EGI
$16.4K $27.30/SF
− OpEx
−$7.4K −$12.29/SF
NOI
$9.0K $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%
$180,200
Cap Rate 7%
$128,714
Cap Rate 9%
$100,111
Alternative Uses
Best Use
Apartment 5plus
$128.7K
$112.6K – $150.2K
NOI $9,010 @ 7.0% cap · market cap 8.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$403.2K
$352.8K – $470.4K
NOI $28,224 @ 7.0% cap · market cap 26.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,414
Businesses Nearby
Explore this area
Business Placement
Demographics for 33308, FL
29,519
Population
23,230
Households
1.3
Avg Household Size
57
Median Age
56%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
6,417
Density / Sq Mi
$83,413
Median Household Income
$58,600
Median Earnings
$1,850
Median Rent
$536,900
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?
Apartment building - Second-floor CO-OP unit with tandem parking near beaches.
Where is this apartment building located?
The property is located at 2106 NE 56th Ct 204 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $108,000.
What are key features of this property?
This property features: Low monthly maintenance fee of $270.; Tandem parking space that fits 2 small cars.; Convenient location close to beaches, groceries, hospitals, shopping, and highways.**
