Two-Story
New
For Sale
$1,300,000
912 SW 15th Terrace #1-4, Fort Lauderdale, FL 33312
Four residential units are arranged within a two-story multifamily building.
Property Size3,731 SF
Price / SF$348.43
Days on Market3
Property Features for 912 SW 15th Terrace #1-4
General Information
Standard status
Active
Size
3,731 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
RM-15
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$16,368
Building Details
Building Size
3,731 SF
Year Built
1971
Stories
2
Listing Agency:
First Florida Real Estate Corp
Listed By:
McAllen Jules · License #3295297
(954) 235-0628
Source:
Laerrealty
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 24 at 7:51AM
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 First Florida Real Estate Corp
Investment Insights
Based on property information with market context.
This two-story quadplex contains four residential units within 3,731 square feet of finished space. Built in 1971, the property is configured as a single multifamily asset with multiple units under one roof.
The property is located at 912 SW 15th Terrace, #1-4, in Fort Lauderdale’s Riverside No 3 subdivision. RM-15 zoning is identified for the site.
The property is located at 912 SW 15th Terrace, #1-4, in Fort Lauderdale’s Riverside No 3 subdivision. RM-15 zoning is identified for the site.
Key Highlights
- Four‑unit residential configuration
- 3,731 square feet of finished space
- Two‑story multifamily building
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
$62,195
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
4.78%
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%
$1,243,900
$1.2M
Cap Rate 7%
$888,500
$888.5K
Cap Rate 9%
$691,056
$691.1K
Market Conditions
NOI Build-Up for 3,731 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
$94.0K $25.20/SF
− Vacancy
−$5.2K −$1.39/SF
EGI
$88.9K $23.81/SF
− OpEx
−$26.7K −$7.14/SF
NOI
$62.2K $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%
$1,243,900
Cap Rate 7%
$888,500
Cap Rate 9%
$691,056
Alternative Uses
Best Use
Multifamily LT 5
$888.5K
$777.4K – $1.04M
NOI $62,195 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$800.4K
$700.3K – $933.8K
NOI $56,026 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$2.51M
$2.19M – $2.93M
NOI $175,506 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
609
Businesses Nearby
Explore this area
Business Placement
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
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?
Quadplex - Four residential units are arranged within a two-story multifamily building.
Where is this quadplex located?
The property is located at 912 SW 15th Terrace #1-4 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Four‑unit residential configuration; 3,731 square feet of finished space; Two‑story multifamily building
