Triplex Income
For Sale
$950,000
1960 NE 56th Street, Fort Lauderdale, FL 33308
For sale triplex with approximately 2,900 square feet at 1960 NE 56th St in Fort Lauderdale.
Property Size2,900 SF
Price / SF$327.59
Days on Market41
Property Features for 1960 NE 56th Street
General Information
Standard status
Active
Size
2,900 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
RMM-25
Taxes and HOA fees
Annual Taxes
$17,328
Building Details
Building Size
2,900 SF
Year Built
1964
Stories
1
Listing Agency:
LoKation
(305) 432-4923
Listed By:
Jesus Pazmino · License #3085829
(305) 432-4923
Source:
Laerrealty
Added: Jul 20
Changed: Aug 23
Last Checked: Aug 29 at 6:15AM
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 LoKation
Investment Insights
Based on property information with market context.
This for-sale triplex is a residential income property configured as three separate units within a single building, totaling approximately 2,900 square feet. It’s positioned for investors or owner-operators seeking an income-producing multifamily setup.
The property is located at 1960 NE 56th St in Fort Lauderdale, Florida 33308.
Additional details such as unit mix, interior condition, and current tenancy were not provided, so interested parties should request further information for a complete underwriting review.
The property is located at 1960 NE 56th St in Fort Lauderdale, Florida 33308.
Additional details such as unit mix, interior condition, and current tenancy were not provided, so interested parties should request further information for a complete underwriting review.
Key Highlights
- Triplex for sale at 1960 NE 56th St, Fort Lauderdale
- Approximately 2,900 SF total building area
- Built in 1964
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
$48,342
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
5.09%
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%
$966,840
$966.8K
Cap Rate 7%
$690,600
$690.6K
Cap Rate 9%
$537,133
$537.1K
Market Conditions
NOI Build-Up for 2,900 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
$73.1K $25.20/SF
− Vacancy
−$4.0K −$1.39/SF
EGI
$69.1K $23.81/SF
− OpEx
−$20.7K −$7.14/SF
NOI
$48.3K $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%
$966,840
Cap Rate 7%
$690,600
Cap Rate 9%
$537,133
Alternative Uses
Best Use
Multifamily LT 5
$690.6K
$604.3K – $805.7K
NOI $48,342 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$622.1K
$544.3K – $725.8K
NOI $43,547 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$1.95M
$1.71M – $2.27M
NOI $136,416 @ 7.0% cap · market cap 14.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,198
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?
Triplex - For sale triplex with approximately 2,900 square feet at 1960 NE 56th St in Fort Lauderdale.
Where is this triplex located?
The property is located at 1960 NE 56th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Triplex for sale at 1960 NE 56th St, Fort Lauderdale; Approximately 2,900 SF total building area; Built in 1964
