6-Unit Apartment
For Sale
$750,000
Pending
1019 Northwest 5th Avenue Unit 16, Fort Lauderdale, FL 33311
Professionally managed multifamily property in Fort Lauderdale’s South Middle River neighborhood with convenient regional access.
Property Size3,625 SF
Days on Market2032
Property Features for 1019 Northwest 5th Avenue Unit 16
General Information
Standard status
Pending
Size
3,625 SF
Property subtype
Commercial/Industrial / Income/Multi Family
Occupancy
100%
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$11,670
Building Details
Year Built
1968
Listing Agency:
Native Realty Co.
Listed By:
Sara Dorfman · License #3339756
(954) 595-2999
Source:
Compass
Added: Feb 10, 2021
Changed: Aug 29
Last Checked: Sep 1 at 11:40PM
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 Co.
Investment Insights
Based on property information with market context.
This 6-unit apartment property contains 3,625 square feet and was built in 1968. The asset is professionally managed and reported at 100% occupancy, offering an established multifamily configuration in an urban Fort Lauderdale setting.
The property is in the South Middle River neighborhood, east of Powerline Road, north of Sunrise Boulevard, west of Andrews Avenue, and south of Wilton Manors. Residents have access to major roadways, downtown Fort Lauderdale, Wilton Manors, area beaches, Port Everglades, and Fort Lauderdale-Hollywood International Airport.
The property is in the South Middle River neighborhood, east of Powerline Road, north of Sunrise Boulevard, west of Andrews Avenue, and south of Wilton Manors. Residents have access to major roadways, downtown Fort Lauderdale, Wilton Manors, area beaches, Port Everglades, and Fort Lauderdale-Hollywood International Airport.
Key Highlights
- 6‑unit multifamily property
- 3,625 square feet of property size
- Built in 1968
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
$54,434
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
7.26%
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%
$1,088,680
$1.1M
Cap Rate 7%
$777,629
$777.6K
Cap Rate 9%
$604,822
$604.8K
Market Conditions
NOI Build-Up for 3,625 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
$104.4K $28.80/SF
− Vacancy
−$5.4K −$1.50/SF
EGI
$99.0K $27.30/SF
− OpEx
−$44.5K −$12.29/SF
NOI
$54.4K $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%
$1,088,680
Cap Rate 7%
$777,629
Cap Rate 9%
$604,822
Alternative Uses
Best Use
Apartment 5plus
$777.6K
$680.4K – $907.2K
NOI $54,434 @ 7.0% cap · market cap 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.44M
$2.13M – $2.84M
NOI $170,520 @ 7.0% cap · market cap 22.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,600
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?
Apartment building - Professionally managed multifamily property in Fort Lauderdale’s South Middle River neighborhood with convenient regional access.
Where is this apartment building located?
The property is located at 1019 Northwest 5th Avenue Unit 16 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 6‑unit multifamily property; 3,625 square feet of property size; Built in 1968
