Updated Triplex with Separate
For Sale
Contact for pricing
1451 NW 19th St, Fort Lauderdale, FL 33311
Three updated units feature central air, tile flooring, and individually metered electrical service.
Property Size2,025 SF
Price / SF$370.30
Days on Market172
Property Features for 1451 NW 19th St
General Information
Standard status
Active
Size
2,025 SF
Total Parking Spaces
5
Property subtype
Multifamily
Zoning
RM-15
Units
Unit Mix
2 x 1/1, 1 x 2/2
Multifamily Units
3
Amenities
central A/C
laundry room
Building Details
Year Built
1973
Construction
CBS
Listing Agency:
LPT Realty, LLC
(954) 907-8161
Listed By:
Alberto Zapata · License #3156332
Source:
Crexi
Added: Mar 13
Changed: Aug 29
Last Checked: Aug 31 at 5:49AM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This 2,025-square-foot triplex contains two 1/1 units and one 2/2 unit. Built in 1974 with CBS construction, the property has tile floors, central A/C in each unit, impact windows, and a roof installed in 2017. Each unit has its own electrical meter, while the laundry room is separately metered. The property is identified as a legal triplex and meets local housing authority/HQS standards.
Set above street grade, the building is configured to promote drainage and reduce standing water during heavy rains. The combination of three residential units, updated interiors, separate utility metering, and dedicated laundry facilities provides a clearly defined multifamily configuration.
Set above street grade, the building is configured to promote drainage and reduce standing water during heavy rains. The combination of three residential units, updated interiors, separate utility metering, and dedicated laundry facilities provides a clearly defined multifamily configuration.
Key Highlights
- Legal triplex with two 1/1 units and one 2/2 unit
- 2,025 SF multifamily property built in 1974
- Central A/C and tile floors in 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
$33,756
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
4.50%
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%
$675,120
$675.1K
Cap Rate 7%
$482,229
$482.2K
Cap Rate 9%
$375,067
$375.1K
Market Conditions
NOI Build-Up for 2,025 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
$51.0K $25.20/SF
− Vacancy
−$2.8K −$1.39/SF
EGI
$48.2K $23.81/SF
− OpEx
−$14.5K −$7.14/SF
NOI
$33.8K $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%
$675,120
Cap Rate 7%
$482,229
Cap Rate 9%
$375,067
Alternative Uses
Best Use
Multifamily LT 5
$482.2K
$422.0K – $562.6K
NOI $33,756 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$434.4K
$380.1K – $506.8K
NOI $30,408 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,256 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
543
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?
Triplex - Three updated units feature central air, tile flooring, and individually metered electrical service.
Where is this triplex located?
The property is located at 1451 NW 19th St Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $749,850.
What are key features of this property?
This property features: Legal triplex with two 1/1 units and one 2/2 unit; 2,025 SF multifamily property built in 1974; Central A/C and tile floors in each unit
