Triplex with Resort-Style
For Sale
Contact for pricing
1681 NE 56th Street, Fort Lauderdale, FL 33334
Well-maintained triplex with all three units on month-to-month occupancy and a resort-style pool setting.
Property Size2,681 SF
Price / SF$383.81
Days on Market86
Property Features for 1681 NE 56th Street
General Information
Standard status
Active
Size
2,681 SF
Property subtype
Multifamily
Building Details
Year Built
1964
Listing Agency:
Campbell & Rosemurgy Real Est
Listed By:
Marissa Obstbaum · License #3394122
Source:
Crexi
Added: May 14
Changed: Jul 10
Last Checked: Aug 7 at 3:41AM
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 Campbell & Rosemurgy Real Est
Investment Insights
Based on property information with market context.
This well-maintained triplex at 1681 NE 56th Street, Fort Lauderdale, is configured as three separate residential units, each currently occupied on month-to-month terms. The property is described as income-producing with immediate occupancy, and it has been maintained to support continued use. A standout resort-style pool area serves as a notable common amenity that adds a leisure-oriented character to the overall setting.
The property is located in Fort Lauderdale, with access to the area’s attractions described as minutes from beaches and dining. That convenient proximity can be useful for residents who want an easy commute to coastal and dining options, and for operators considering a short-term rental direction given the property’s existing pool amenity.
For buyers and owner-operators, the month-to-month structure offers flexibility around how the property is managed and positioned. The triplex layout can support a range of strategies, including keeping the current long-term approach or evaluating a short-term rental conversion in light of the described vacation-like pool setting. The current condition and occupancy help reduce downtime and support a straightforward transition for a new owner.
The property is located in Fort Lauderdale, with access to the area’s attractions described as minutes from beaches and dining. That convenient proximity can be useful for residents who want an easy commute to coastal and dining options, and for operators considering a short-term rental direction given the property’s existing pool amenity.
For buyers and owner-operators, the month-to-month structure offers flexibility around how the property is managed and positioned. The triplex layout can support a range of strategies, including keeping the current long-term approach or evaluating a short-term rental conversion in light of the described vacation-like pool setting. The current condition and occupancy help reduce downtime and support a straightforward transition for a new owner.
Key Highlights
- Well‑maintained triplex built in 1964 with all 3 units on month‑to‑month occupancy
- Immediate income potential with month‑to‑month tenants in all three units
- Resort‑style pool area as a standout community feature
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
$44,692
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
4.34%
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%
$893,840
$893.8K
Cap Rate 7%
$638,457
$638.5K
Cap Rate 9%
$496,578
$496.6K
Market Conditions
NOI Build-Up for 2,681 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
$67.6K $25.20/SF
− Vacancy
−$3.7K −$1.39/SF
EGI
$63.8K $23.81/SF
− OpEx
−$19.2K −$7.14/SF
NOI
$44.7K $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%
$893,840
Cap Rate 7%
$638,457
Cap Rate 9%
$496,578
Alternative Uses
Best Use
Multifamily LT 5
$638.5K
$558.7K – $744.9K
NOI $44,692 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$575.1K
$503.2K – $671.0K
NOI $40,259 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,114 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,828
Businesses Nearby
Explore this area
Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
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 - Well-maintained triplex with all three units on month-to-month occupancy and a resort-style pool setting.
Where is this triplex located?
The property is located at 1681 NE 56th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,029,000.
What are key features of this property?
This property features: Well‑maintained triplex built in 1964 with all 3 units on month‑to‑month occupancy; Immediate income potential with month‑to‑month tenants in all three units; Resort‑style pool area as a standout community feature
