9-Unit Apartment
For Sale
Contact for pricing
1301 NE 16TH TER, Fort Lauderdale, FL 33304
Two-building multifamily property with renovated residences, assigned parking, and individually metered electric service.
Property Size5,598 SF
Price / SF$464.45
Days on Market11
Property Features for 1301 NE 16TH TER
General Information
Standard status
Active
Size
5,598 SF
Class
B
Total Parking Spaces
9
Property subtype
Multifamily
Investment Type
Value Add
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BD/1BA, 1 x 2BD/2BA, 7 x 1BD/1BA
Multifamily Units
9
Building Details
Year Built
1949
Year Renovated
2024
Buildings
2
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
One Commercial
Listed By:
Zack Statlander · License #3571691
Source:
Crexi
Added: Aug 12
Changed: Aug 18
Last Checked: Aug 20 at 11:16AM
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 One Commercial
Investment Insights
Based on property information with market context.
This 9-unit apartment property comprises two buildings with a unit mix of one 2BD/1BA residence, one 2BD/2BA residence, and seven 1BD/1BA residences. The improvements date to 1949 and include 5,598 square feet of property area. Eight units received full remodels in 2024, while patios were newly paved during the same year. A new fence, irrigation system, and HVAC serving multiple units were added in 2025. Three residences are furnished.
Located at 1301 NE 16TH TER in Fort Lauderdale, the property offers proximity to Fort Lauderdale Beach, Downtown Fort Lauderdale, Las Olas Boulevard, and Wilton Manors. Access to I-95 and US-1 is also noted. Residents have nine assigned parking spaces. Electric service is individually metered for each unit, with a separate house meter and one master water meter serving the property.
Located at 1301 NE 16TH TER in Fort Lauderdale, the property offers proximity to Fort Lauderdale Beach, Downtown Fort Lauderdale, Las Olas Boulevard, and Wilton Manors. Access to I-95 and US-1 is also noted. Residents have nine assigned parking spaces. Electric service is individually metered for each unit, with a separate house meter and one master water meter serving the property.
Key Highlights
- 9 units across two buildings with one 2BD/1BA, one 2BD/2BA, and seven 1BD/1BA residences
- 5,598 square feet; constructed in 1949
- Eight of nine units fully remodeled in 2024
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
$84,061
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
3.23%
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%
$1,681,220
$1.7M
Cap Rate 7%
$1,200,871
$1.2M
Cap Rate 9%
$934,011
$934.0K
Market Conditions
NOI Build-Up for 5,598 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
$161.2K $28.80/SF
− Vacancy
−$8.4K −$1.50/SF
EGI
$152.8K $27.30/SF
− OpEx
−$68.8K −$12.29/SF
NOI
$84.1K $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%
$1,681,220
Cap Rate 7%
$1,200,871
Cap Rate 9%
$934,011
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $84,061 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.76M
$3.29M – $4.39M
NOI $263,330 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,441
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-building multifamily property with renovated residences, assigned parking, and individually metered electric service.
Where is this apartment building located?
The property is located at 1301 NE 16TH TER Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 9 units across two buildings with one 2BD/1BA, one 2BD/2BA, and seven 1BD/1BA residences; 5,598 square feet; constructed in 1949; Eight of nine units fully remodeled in 2024
