Two-Unit Duplex with
For Sale
$599,700
1221 Northwest 5th Avenue, Fort Lauderdale, FL 33311
Each unit includes two bedrooms and two full bathrooms.
Property Size1,700 SF
Price / SF$352.76
Days on Market227
Property Features for 1221 Northwest 5th Avenue
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Multi-Family Income / Duplex
Taxes and HOA fees
Annual Taxes
$5,000
Building Details
Year Built
1974
Listing Agency:
Sky Avenue Realty
(786) 325-7536
Listed By:
Eduardo Calle · License #3036676
(786) 325-7536
Source:
Compass
Added: Jan 14
Changed: Aug 29
Last Checked: Aug 29 at 1:18PM
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 Sky Avenue Realty
Investment Insights
Based on property information with market context.
Built in 1974, this 1,700-square-foot duplex at 1221 Northwest 5th Avenue contains two separate units. Both units offer a two-bedroom, two-bathroom layout, providing consistent configuration across the property.
One unit is currently generating rental income, while the other is vacant and available for occupancy, showings, or renovation. The property also includes up to 8 dedicated parking spaces and sits on a lot described as having additional land beyond the existing improvements.
One unit is currently generating rental income, while the other is vacant and available for occupancy, showings, or renovation. The property also includes up to 8 dedicated parking spaces and sits on a lot described as having additional land beyond the existing improvements.
Key Highlights
- Two‑unit duplex with 1,700 square feet of building area
- Each unit has 2 bedrooms and 2 full bathrooms
- Up to 8 dedicated parking spaces
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
$28,339
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
4.73%
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%
$566,780
$566.8K
Cap Rate 7%
$404,843
$404.8K
Cap Rate 9%
$314,878
$314.9K
Market Conditions
NOI Build-Up for 1,700 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
$42.8K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$40.5K $23.81/SF
− OpEx
−$12.1K −$7.14/SF
NOI
$28.3K $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%
$566,780
Cap Rate 7%
$404,843
Cap Rate 9%
$314,878
Alternative Uses
Best Use
Multifamily LT 5
$404.8K
$354.2K – $472.3K
NOI $28,339 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$364.7K
$319.1K – $425.5K
NOI $25,528 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$1.14M
$999.6K – $1.33M
NOI $79,968 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,904
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
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 - Each unit includes two bedrooms and two full bathrooms.
Where is this duplex located?
The property is located at 1221 Northwest 5th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $599,700.
What are key features of this property?
This property features: Two‑unit duplex with 1,700 square feet of building area; Each unit has 2 bedrooms and 2 full bathrooms; Up to 8 dedicated parking spaces
