Lakefront Triplex with En-Suite
For Sale
Contact for pricing
1236 NE 18th Ave, Fort Lauderdale, FL 33304
Flexible residential layout includes private outdoor space, a two-car garage, and updated pool equipment.
Property Size3,389 SF
Price / SF$469.16
Days on Market112
Property Features for 1236 NE 18th Ave
General Information
Standard status
Active
Size
3,389 SF
Total Parking Spaces
2
Property subtype
Multifamily
Zoning
RC-15
Additional Details
Multifamily Units
3
Amenities
pool
Building Details
Year Built
1955
Buildings
1
Listing Agency:
Compass Commercial
(954) 649-7890
Listed By:
Jessie Stier · License #3442064
Source:
Crexi
Added: May 12
Changed: Aug 30
Last Checked: Aug 30 at 5:06AM
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 Compass Commercial
Investment Insights
Based on property information with market context.
This lakefront triplex provides 3,389 SF of residential space in a flexible arrangement. The front residence contains two bedrooms and two bathrooms, while the rear residence is configured with three bedrooms and three bathrooms and connects internally to the front portion. Each of the five bedrooms has an en-suite bathroom, and the front residence includes a private patio.
The interior connection can be closed to establish a separate two-bedroom, two-bathroom residence and studio apartment. Property improvements include a two-car garage, new pool heater, low-maintenance turf grass, and impact windows and doors. Built in 1955, the property is zoned RC-15 and sits near Las Olas, downtown Fort Lauderdale, and the beach.
The interior connection can be closed to establish a separate two-bedroom, two-bathroom residence and studio apartment. Property improvements include a two-car garage, new pool heater, low-maintenance turf grass, and impact windows and doors. Built in 1955, the property is zoned RC-15 and sits near Las Olas, downtown Fort Lauderdale, and the beach.
Key Highlights
- Lakefront triplex with 3,389 SF of residential space
- Current layout includes a 2‑bedroom, 2‑bathroom residence and a 3‑bedroom, 3‑bathroom residence
- All five bedrooms feature en‑suite bathrooms
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
$56,494
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
3.55%
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%
$1,129,880
$1.1M
Cap Rate 7%
$807,057
$807.1K
Cap Rate 9%
$627,711
$627.7K
Market Conditions
NOI Build-Up for 3,389 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
$85.4K $25.20/SF
− Vacancy
−$4.7K −$1.39/SF
EGI
$80.7K $23.81/SF
− OpEx
−$24.2K −$7.14/SF
NOI
$56.5K $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%
$1,129,880
Cap Rate 7%
$807,057
Cap Rate 9%
$627,711
Alternative Uses
Best Use
Multifamily LT 5
$807.1K
$706.2K – $941.6K
NOI $56,494 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$727.0K
$636.1K – $848.2K
NOI $50,890 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,419 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
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?
Triplex - Flexible residential layout includes private outdoor space, a two-car garage, and updated pool equipment.
Where is this triplex located?
The property is located at 1236 NE 18th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Lakefront triplex with 3,389 SF of residential space; Current layout includes a 2‑bedroom, 2‑bathroom residence and a 3‑bedroom, 3‑bathroom residence; All five bedrooms feature en‑suite bathrooms
