Triplex with Carport and New
For Sale
Contact for pricing
Pending
2001-2005 NE 17th Court, Fort Lauderdale, FL 33305
Triplex offering one vacant studio and two month-to-month 1-bedroom units, with a new roof and carport.
Property Size2,000 SF
Days on Market95
Property Features for 2001-2005 NE 17th Court
General Information
Standard status
Pending
Size
2,000 SF
Property subtype
Multifamily
Building Details
Year Built
1953
Listing Agency:
RE/MAX FIRST
Listed By:
Whitney Dutton · License #3248950
Source:
Crexi
Added: May 5
Changed: Jul 10
Last Checked: Jul 24 at 11:36AM
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 RE/MAX FIRST
Investment Insights
Based on property information with market context.
This corner-lot triplex includes a carport and provides three separate residential units. There is one currently vacant studio unit and two 1-bedroom units that are rented on a month-to-month basis. The property has a newly installed roof, and while it presents as clean, it is ready for cosmetic upgrades to improve finishes and unit presentation. Access to the studio is available, while access to the 1-bedroom units is limited based on existing contracts. The property also does not include indoor laundry.
Located in Fort Lauderdale, the property benefits from proximity to major retail and dining options mentioned in the listing, including Trader Joe’s, Whole Foods, a new Publix, restaurants, and Nordstrom Rack. The Gateway theater plaza is described as within walking distance, and Fort Lauderdale Beach is noted as approximately 2 miles away.
For prospective owners, this configuration can support a straightforward live-in-and-rent or fully income-oriented approach, given the existing tenanting in two units and the immediate availability of the studio. The month-to-month rental structure may offer operational flexibility compared to longer-term leases, while the added work needed for cosmetics allows buyers to tailor unit updates to their target tenant or rental strategy.
Located in Fort Lauderdale, the property benefits from proximity to major retail and dining options mentioned in the listing, including Trader Joe’s, Whole Foods, a new Publix, restaurants, and Nordstrom Rack. The Gateway theater plaza is described as within walking distance, and Fort Lauderdale Beach is noted as approximately 2 miles away.
For prospective owners, this configuration can support a straightforward live-in-and-rent or fully income-oriented approach, given the existing tenanting in two units and the immediate availability of the studio. The month-to-month rental structure may offer operational flexibility compared to longer-term leases, while the added work needed for cosmetics allows buyers to tailor unit updates to their target tenant or rental strategy.
Key Highlights
- Triplex on a 6,600 SF corner lot with a carport; year built 1953
- Income setup: 1 vacant studio plus two 1‑bedroom units rented on a month‑to‑month basis
- New roof installed; property is clean but ready for cosmetic upgrades
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
$33,340
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
5.14%
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%
$666,800
$666.8K
Cap Rate 7%
$476,286
$476.3K
Cap Rate 9%
$370,444
$370.4K
Market Conditions
NOI Build-Up for 2,000 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
$50.4K $25.20/SF
− Vacancy
−$2.8K −$1.39/SF
EGI
$47.6K $23.81/SF
− OpEx
−$14.3K −$7.14/SF
NOI
$33.3K $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%
$666,800
Cap Rate 7%
$476,286
Cap Rate 9%
$370,444
Alternative Uses
Best Use
Multifamily LT 5
$476.3K
$416.8K – $555.7K
NOI $33,340 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$429.0K
$375.4K – $500.6K
NOI $30,033 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,080 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Explore this area
Business Placement
Demographics for 33305, FL
12,044
Population
8,285
Households
1.5
Avg Household Size
52
Median Age
54%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
5,475
Density / Sq Mi
$89,944
Median Household Income
$60,924
Median Earnings
$1,850
Median Rent
$558,200
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 - Triplex offering one vacant studio and two month-to-month 1-bedroom units, with a new roof and carport.
Where is this triplex located?
The property is located at 2001-2005 NE 17th Court Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Triplex on a 6,600 SF corner lot with a carport; year built 1953; Income setup: 1 vacant studio plus two 1‑bedroom units rented on a month‑to‑month basis; New roof installed; property is clean but ready for cosmetic upgrades
