Tenant-Occupied
For Sale
$605,000
715 NW 15TH Ter 1-3, Fort Lauderdale, FL 33311
Three matching residences offer established occupancy, private patios, and in-unit laundry areas.
Property Size1,853 SF
Days on Market9
Property Features for 715 NW 15TH Ter 1-3
General Information
Standard status
Active
Size
1,853 SF
Property subtype
Investment
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,760
Amenities
patio
washer/dryer in unit
Building Details
Building Size
1,853 SF
Year Built
1961
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Brookfield Executive Real Esta
(954) 429-5649
Listed By:
Devin M Ruiz · License #3318029
(954) 429-5649
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 26 at 10:05AM
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 Brookfield Executive Real Esta
Investment Insights
Based on property information with market context.
This triplex, built in 1961, contains three tenant-occupied residences with matching floor plans. Each unit includes two bedrooms, one bathroom, a living area, and a kitchen, along with a private patio area and washer-dryer setup. Newly remodeled bathrooms and a roof replacement completed in 2026 add recent updates to the property.
The property is located at 715 NW 15TH Ter in Fort Lauderdale. Walk Score is 63, characterized as Somewhat Walkable; Bike Score is 58, or Bikeable; and Transit Score is 42, indicating Some Transit. All three residences are currently occupied, providing an existing multifamily configuration with consistent layouts across the building.
The property is located at 715 NW 15TH Ter in Fort Lauderdale. Walk Score is 63, characterized as Somewhat Walkable; Bike Score is 58, or Bikeable; and Transit Score is 42, indicating Some Transit. All three residences are currently occupied, providing an existing multifamily configuration with consistent layouts across the building.
Key Highlights
- Three tenant‑occupied units, each with 2 bedrooms and 1 bathroom
- Matching floor plans across all three residences
- Private patio areas and washer‑dryer setup for each unit
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
$30,889
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
5.11%
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%
$617,780
$617.8K
Cap Rate 7%
$441,271
$441.3K
Cap Rate 9%
$343,211
$343.2K
Market Conditions
NOI Build-Up for 1,853 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
$46.7K $25.20/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$44.1K $23.81/SF
− OpEx
−$13.2K −$7.14/SF
NOI
$30.9K $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%
$617,780
Cap Rate 7%
$441,271
Cap Rate 9%
$343,211
Alternative Uses
Best Use
Multifamily LT 5
$441.3K
$386.1K – $514.8K
NOI $30,889 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$397.5K
$347.8K – $463.8K
NOI $27,825 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,165 @ 7.0% cap · market cap 14.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
955
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
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 - Three matching residences offer established occupancy, private patios, and in-unit laundry areas.
Where is this triplex located?
The property is located at 715 NW 15TH Ter 1-3 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $605,000.
What are key features of this property?
This property features: Three tenant‑occupied units, each with 2 bedrooms and 1 bathroom; Matching floor plans across all three residences; Private patio areas and washer‑dryer setup for each unit
