Triplex With Central
For Sale
$950,000
1960 NE 56th St, Fort Lauderdale, FL 33308
Residential Income, Fort Lauderdale, FL
Property Size2,900 SF
Price / SF$327.59
Days on Market60
Property Features for 1960 NE 56th St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
RMM-25
Bedrooms
5
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 2, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 3
Parking
6
Subdivision
CORAL RIDGE ADD
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
494213060080
Size
2,900 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
CORAL RIDGE ADD B 41-47 B LOT 7 BLK 1
Tax Annual Amount
17328
Legal Description
CORAL RIDGE ADD B 41-47 B LOT 7 BLK 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Building Details
Year built
1964
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Jesus Pazmino · License #3233828
(305) 432-4923
Added: Jul 1
Changed: Aug 29
Last Checked: Aug 29 at 5:06PM
MLS# A12046600
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex contains 2,900 square feet and was built in 1964 with block construction, ceramic tile flooring, and a shingle roof. The property includes five bedrooms and four bathrooms, with central air conditioning and central electric heating. Cable service is available, and the site is connected to public sewer.
Located in Coral Ridge at 1960 NE 56th St in Fort Lauderdale, the property is described as approximately 15 minutes from beaches, shops, restaurants, and additional shopping destinations.
Located in Coral Ridge at 1960 NE 56th St in Fort Lauderdale, the property is described as approximately 15 minutes from beaches, shops, restaurants, and additional shopping destinations.
Key Highlights
- Triplex with 2,900 square feet of property size
- Five bedrooms and four bathrooms
- Block construction with a shingle roof
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
$48,342
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
5.09%
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%
$966,840
$966.8K
Cap Rate 7%
$690,600
$690.6K
Cap Rate 9%
$537,133
$537.1K
Market Conditions
NOI Build-Up for 2,900 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
$73.1K $25.20/SF
− Vacancy
−$4.0K −$1.39/SF
EGI
$69.1K $23.81/SF
− OpEx
−$20.7K −$7.14/SF
NOI
$48.3K $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%
$966,840
Cap Rate 7%
$690,600
Cap Rate 9%
$537,133
Alternative Uses
Best Use
Multifamily LT 5
$690.6K
$604.3K – $805.7K
NOI $48,342 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$622.1K
$544.3K – $725.8K
NOI $43,547 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$1.95M
$1.71M – $2.27M
NOI $136,416 @ 7.0% cap · market cap 14.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,198
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 - Block construction, ceramic tile flooring, and public sewer support the property’s multifamily configuration.
Where is this triplex located?
The property is located at 1960 NE 56th St Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Triplex with 2,900 square feet of property size; Five bedrooms and four bathrooms; Block construction with a shingle roof
