Triplex Development
For Sale
$790,000
1844 NE 46th Street, Fort Lauderdale, FL 33308
Redevelopment concept for a three-unit project using existing walls and slab, with two-story townhomes and attached garages.
Property Size2,323 SF
Days on Market164
Property Features for 1844 NE 46th Street
General Information
Standard status
Active
Size
2,323 SF
Total Parking Spaces
8
Property subtype
Business Opportunity
Zoning
RMM-25
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$14,282
Amenities
Central Air, Ceiling Fan(s), Gas, Wall/Window Unit(s)
Privacy, Wood
Common, Guest
Building Details
Building Size
2,323 SF
Year Built
1958
Stories
1
Listing Agency:
A American Capital Leasing Inc
(954) 772-3699
Listed By:
Donald J Arpin
(954) 772-3699
Source:
Evrealestate
Added: Mar 19
Changed: Aug 23
Last Checked: Aug 29 at 8:25AM
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 A American Capital Leasing Inc
Investment Insights
Based on property information with market context.
This property presents a developer-focused redevelopment concept. The proposal envisions new construction of three two-story townhomes, totaling 1,760 square feet of gross plans, with attached garages. The idea is based on utilizing three existing walls and the slab, and the provided plans are described as a sample of what could be built.
The property is located at 1844 NE 46th Street in Fort Lauderdale, FL 33308. Permitting would be pursued through the City of Fort Lauderdale, and the seller notes they are a structural engineer who can handle plans for the city, along with demo plans. The plans are described as negotiable as part of the redevelopment approach.
The property is located at 1844 NE 46th Street in Fort Lauderdale, FL 33308. Permitting would be pursued through the City of Fort Lauderdale, and the seller notes they are a structural engineer who can handle plans for the city, along with demo plans. The plans are described as negotiable as part of the redevelopment approach.
Key Highlights
- 1958‑built property presented for developer redevelopment concept.
- Proposed plan uses 3 existing walls and slab for new construction.
- Concept includes 3 townhomes as two‑story units with attached garages.
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
$38,724
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
4.90%
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%
$774,480
$774.5K
Cap Rate 7%
$553,200
$553.2K
Cap Rate 9%
$430,267
$430.3K
Market Conditions
NOI Build-Up for 2,323 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
$58.5K $25.20/SF
− Vacancy
−$3.2K −$1.39/SF
EGI
$55.3K $23.81/SF
− OpEx
−$16.6K −$7.14/SF
NOI
$38.7K $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%
$774,480
Cap Rate 7%
$553,200
Cap Rate 9%
$430,267
Alternative Uses
Best Use
Multifamily LT 5
$553.2K
$484.1K – $645.4K
NOI $38,724 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$498.3K
$436.0K – $581.4K
NOI $34,883 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,274 @ 7.0% cap · market cap 13.83%
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
3,560
Businesses Nearby
Explore this area
Business Placement
Demographics for 33308, FL
29,519
Population
23,230
Households
1.3
Avg Household Size
57
Median Age
56%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
6,417
Density / Sq Mi
$83,413
Median Household Income
$58,600
Median Earnings
$1,850
Median Rent
$536,900
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 - Redevelopment concept for a three-unit project using existing walls and slab, with two-story townhomes and attached garages.
Where is this triplex located?
The property is located at 1844 NE 46th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: 1958‑built property presented for developer redevelopment concept.; Proposed plan uses 3 existing walls and slab for new construction.; Concept includes 3 townhomes as two‑story units with attached garages.
