Garden-Style Multifamily
For Sale
$2,508,000
701 NE 13th Ct, Fort Lauderdale, FL 33304
Two-story, 12-unit garden-style apartment building centered on a landscaped courtyard with on-site parking.
Property Size8,275 SF
Lot Size0.34 Acres
Price / SF$303.08
Days on Market160
Property Features for 701 NE 13th Ct
General Information
Standard status
Active
Size
8,275 SF
Class
C
Lot size
0.34 Acres
Property subtype
Multi-Family
Zoning
CB
Additional Details
Business Included
Yes
Multifamily Units
12
Building Details
Building Size
8,275 SF
Year Built
1969
Stories
2
Units
12
Tenancy
Multi
Listing Agency:
Native Realty
Listed By:
Jaime Sturgis · License #3246270
(954) 595-2999
Source:
Commercialcafe
Added: Mar 30
Changed: Aug 31
Last Checked: Sep 4 at 2:48AM
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
Investment Insights
Based on property information with market context.
This 12-unit multifamily property is a well-maintained, two-story garden-style apartment building totaling approximately 8,275 square feet on a 14,688 square foot lot. Units are arranged around a landscaped courtyard, creating a community-style outdoor setting. The tenant mix includes one studio/1-bath unit, one studio/1.5-bath unit, eight 1-bedroom/1.5-bath units, and two 2-bedroom/2-bath units. Many units have been updated with modern finishes such as tile flooring, refreshed kitchens, and renovated bathrooms.
On-site parking is available, and the layout provides efficient access to all units. The property is zoned CB (Community Business), offering flexibility for future redevelopment or alternative uses.
Positioned just north of Downtown Fort Lauderdale, the asset is also located near Flagler Village, Wilton Manors, and major transportation corridors, supporting a demand-driven rental area in an active South Florida market.
On-site parking is available, and the layout provides efficient access to all units. The property is zoned CB (Community Business), offering flexibility for future redevelopment or alternative uses.
Positioned just north of Downtown Fort Lauderdale, the asset is also located near Flagler Village, Wilton Manors, and major transportation corridors, supporting a demand-driven rental area in an active South Florida market.
Key Highlights
- 12‑unit multifamily property at 701 NE 13th Court, Fort Lauderdale (2‑story garden‑style building)
- Approx. 8,275 SF on a 14,688 SF lot with a landscaped, courtyard‑centered layout
- Unit mix: 1 studio/1BA, 1 studio/1.5BA, eight 1BR/1.5BA, and two 2BR/2BA
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
$124,260
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
4.95%
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%
$2,485,200
$2.5M
Cap Rate 7%
$1,775,143
$1.8M
Cap Rate 9%
$1,380,667
$1.4M
Market Conditions
NOI Build-Up for 8,275 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
$238.3K $28.80/SF
− Vacancy
−$12.4K −$1.50/SF
EGI
$225.9K $27.30/SF
− OpEx
−$101.7K −$12.29/SF
NOI
$124.3K $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%
$2,485,200
Cap Rate 7%
$1,775,143
Cap Rate 9%
$1,380,667
Alternative Uses
Best Use
Apartment 5plus
$1.78M
$1.55M – $2.07M
NOI $124,260 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.56M
$4.87M – $6.49M
NOI $389,256 @ 7.0% cap · market cap 15.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,766
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?
Apartment building - Two-story, 12-unit garden-style apartment building centered on a landscaped courtyard with on-site parking.
Where is this apartment building located?
The property is located at 701 NE 13th Ct Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,508,000.
What are key features of this property?
This property features: 12‑unit multifamily property at 701 NE 13th Court, Fort Lauderdale (2‑story garden‑style building); Approx. 8,275 SF on a 14,688 SF lot with a landscaped, courtyard‑centered layout; Unit mix: 1 studio/1BA, 1 studio/1.5BA, eight 1BR/1.5BA, and two 2BR/2BA
