Duplex with Impact
New
For Sale
$608,000
2500 Franklin Drive, Fort Lauderdale, FL 33311
Two-unit property with separate utility meters, laundry equipment, and RD-5 zoning.
Property Size1,697 SF
Price / SF$358.28
Days on Market5
Property Features for 2500 Franklin Drive
General Information
Standard status
Active
Size
1,697 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
RD-5
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2/1, 1 x efficiency
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,707
Amenities
hurricane impact windows
separate utility meters
washer and dryer
Building Details
Building Size
1,697 SF
Year Built
1989
Buildings
1
Listing Agency:
Dalton Wade Inc
(786) 278-1094
Listed By:
Watson Frage · License #3386107
(786) 278-1094
Source:
Laerrealty
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 29 at 6:16AM
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 Dalton Wade Inc
Investment Insights
Based on property information with market context.
This duplex was built in 1989 and includes hurricane impact windows, separate utility meters, and a washer and dryer. The property has a 1,697 property-size measurement and is zoned RD-5. Its two-unit configuration supports separate residential occupancy, while the available interior arrangement provides flexibility for rental use.
Located at 2500 Franklin Drive in Fort Lauderdale, the property offers access to Sunrise Boulevard, major roads, downtown, and area beaches. Parks, shopping centers, restaurants, and public transportation are also identified in the surrounding neighborhood.
Located at 2500 Franklin Drive in Fort Lauderdale, the property offers access to Sunrise Boulevard, major roads, downtown, and area beaches. Parks, shopping centers, restaurants, and public transportation are also identified in the surrounding neighborhood.
Key Highlights
- Duplex with 1,697 property size
- Built in 1989
- Hurricane impact windows
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
$28,289
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
4.65%
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%
$565,780
$565.8K
Cap Rate 7%
$404,129
$404.1K
Cap Rate 9%
$314,322
$314.3K
Market Conditions
NOI Build-Up for 1,697 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
$42.8K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$40.4K $23.81/SF
− OpEx
−$12.1K −$7.14/SF
NOI
$28.3K $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%
$565,780
Cap Rate 7%
$404,129
Cap Rate 9%
$314,322
Alternative Uses
Best Use
Multifamily LT 5
$404.1K
$353.6K – $471.5K
NOI $28,289 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$364.0K
$318.5K – $424.7K
NOI $25,483 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$1.14M
$997.8K – $1.33M
NOI $79,827 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
816
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate utility meters, laundry equipment, and RD-5 zoning.
Where is this duplex located?
The property is located at 2500 Franklin Drive Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $608,000.
What are key features of this property?
This property features: Duplex with 1,697 property size; Built in 1989; Hurricane impact windows
