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Fort Lauderdale Multifamily Investment Opportunity

500 SE 22nd Street Fort Lauderdale, FL 33316

500 SE 22nd Street, Fort Lauderdale, FL, 33316

$6,500,000

For Sale

$6,500,000

26-unit multifamily property in Fort Lauderdale's Poinciana Park neighborhood.

Property Size16,272 SF

Lot Size0.31 Acres

Price / SF$399.46

AddedDec 17, 2024

Days on Market575

Last RefreshApr 5 at 9:25 pm

Property Features for 500 SE 22nd Street

General Information

Standard status: Active
Size: 16,272 SF
Lot size: 0.31 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 1959

Listing office Native Realty Co.

Listing date Dec 17, 2024

Source Exitrealty

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 Native Realty Co.

Investment Insights

Based on property information with market context.

This multifamily property is located in Fort Lauderdale's Poinciana Park neighborhood. The asset includes 26 units within 16,272 square feet of building space, situated on a 26,998 square foot parcel of land. The unit mix comprises 4 studio apartments, 14 one-bedroom, one-bath apartments, and 8 two-bedroom, two-bath apartments. The property also features a coin-operated laundry room on-site, providing additional income. The property is zoned RMM-25 and includes ample parking and individually metered units.

Key Highlights

Multi‑family property with 26 units in Fort Lauderdale.
Desirable unit mix: studios, 1 BR/1 Bath, and 2 BR/2 Bath apartments.
RMM‑25 zoning.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$468.6k	$28.80
− Vacancy	−$24.4k	−$1.50
EGI	$444.3k	$27.30
− OpEx	−$199.9k	−$12.29
NOI	$244.3k	$15.02

16,272 SF · lease $28.80/SF/yr · vacancy 5.20% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$3.49M

$3.05M – $4.07M (±1% cap)

NOI $244,346 @ 7.0% cap · market cap 3.76%

Second Best

—

no second resolved use

Theoretical Best

Office A

$10.93M

$9.57M – $12.76M (±1% cap)

NOI $765,435 @ 7.0% cap · market cap 11.78%

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

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Absynthe Minded Web ... Marketing & Advertising Jim Samson Cleaning General Contractor Supremus Roots Digital Marketing & Advertising

Suggested Use

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For sale
Apartment buildings
FL
Fort Lauderdale
33316
500 SE 22nd Street

What type of property is this?

Apartment building - 26-unit multifamily property in Fort Lauderdale's Poinciana Park neighborhood.

Where is this apartment building located?

The property is located at 500 SE 22nd Street Fort Lauderdale, FL.

What is the asking price?

The asking price for this property is $6,500,000.

What are key features of this property?

This property features: Multi‑family property with 26 units in Fort Lauderdale.; Desirable unit mix: studios, 1 BR/1 Bath, and 2 BR/2 Bath apartments.; RMM‑25 zoning.