3-Unit Multifamily
For Sale
$780,000
1913 Gardenia Road, Fort Lauderdale, FL 33317
Three-unit residential income property near schools, shopping, and major regional roads.
Property Size2,032 SF
Price / SF$383.86
Days on Market235
Property Features for 1913 Gardenia Road
General Information
Standard status
Active
Size
2,032 SF
Property subtype
Multi-Family Income / Duplex
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,375
Building Details
Year Built
1968
Listing Agency:
New Quest Realty, LLC
(954) 935-3158
Listed By:
Lifranc Cyriac · License #3029741
(954) 935-3158
Source:
Compass
Added: Jan 8
Changed: Aug 30
Last Checked: Aug 30 at 1:24AM
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 New Quest Realty, LLC
Investment Insights
Based on property information with market context.
This multifamily property contains three residential units within approximately 2,032 square feet. The building dates to 1968 and is classified as a triplex, providing a compact residential income configuration.
The property is situated near schools and shopping centers, with access to I-595, I-95, State Road 7, and State Road 84. Its setting provides connectivity to established services and major transportation routes.
The property is situated near schools and shopping centers, with access to I-595, I-95, State Road 7, and State Road 84. Its setting provides connectivity to established services and major transportation routes.
Key Highlights
- Three‑unit triplex configuration
- Approximately 2,032 square feet of building area
- 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
$33,873
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%
$677,460
$677.5K
Cap Rate 7%
$483,900
$483.9K
Cap Rate 9%
$376,367
$376.4K
Market Conditions
NOI Build-Up for 2,032 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
$51.2K $25.20/SF
− Vacancy
−$2.8K −$1.39/SF
EGI
$48.4K $23.81/SF
− OpEx
−$14.5K −$7.14/SF
NOI
$33.9K $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%
$677,460
Cap Rate 7%
$483,900
Cap Rate 9%
$376,367
Alternative Uses
Best Use
Multifamily LT 5
$483.9K
$423.4K – $564.6K
NOI $33,873 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$435.9K
$381.4K – $508.6K
NOI $30,513 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$1.37M
$1.19M – $1.59M
NOI $95,585 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
779
Businesses Nearby
Explore this area
Business Placement
Demographics for 33317, FL
37,590
Population
13,625
Households
2.8
Avg Household Size
41
Median Age
36%
College-Educated
90%
High-School Grad
9.6 sq mi
ZIP Area
3,916
Density / Sq Mi
$84,239
Median Household Income
$43,317
Median Earnings
$1,986
Median Rent
$449,900
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 - Three-unit residential income property near schools, shopping, and major regional roads.
Where is this triplex located?
The property is located at 1913 Gardenia Road Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Three‑unit triplex configuration; Approximately 2,032 square feet of building area; Built in 1968
