Residential Townhome
For Sale
$5,200,000
202 14th Ave, Fort Lauderdale, FL 33311
A 38-unit residential community with 17 fully leased townhomes and a mix of 1- and 2-car garages.
Property Size22,761 SF
Price / SF$228.46
Days on Market385
Property Features for 202 14th Ave
General Information
Standard status
Active
Size
22,761 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
17
Amenities
Central Air
3
Building Details
Year Built
2007
Tenancy
Multi
Listing Agency:
Charles Rutenberg Realty Fort
(305) 338-9884
Listed By:
Shirley Slotwiner · License #3287505
(305) 338-9884
Source:
Xome
Added: Jul 25, 2025
Changed: Aug 12
Last Checked: Aug 13 at 3:23AM
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 Charles Rutenberg Realty Fort
Investment Insights
Based on property information with market context.
This for-sale residential community consists of 38 townhome units, with 17 stabilized and fully leased. The community includes a mix of 1-car and 2-car garages, supporting tenant utility and day-to-day functionality. Many units feature newer central A/C systems aimed at long-term durability and tenant satisfaction.
The seller also retains Builder Rights, providing full control over the HOA and strategic influence over community operations. Tenants pay for their own water and electricity, which is described as contributing to operational efficiency and reduced owner expenses. The property is located in Fort Lauderdale, near major highways, schools, shopping, and Downtown Fort Lauderdale.
The offering highlights strong in-place rental income and minimal management requirements based on the provided remarks.
The seller also retains Builder Rights, providing full control over the HOA and strategic influence over community operations. Tenants pay for their own water and electricity, which is described as contributing to operational efficiency and reduced owner expenses. The property is located in Fort Lauderdale, near major highways, schools, shopping, and Downtown Fort Lauderdale.
The offering highlights strong in-place rental income and minimal management requirements based on the provided remarks.
Key Highlights
- 38‑unit residential community in Fort Lauderdale, FL
- 17 stabilized, fully leased townhomes within the 38‑unit community
- Central air cooling and heating noted; year built 2007
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
$341,786
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
6.57%
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%
$6,835,720
$6.8M
Cap Rate 7%
$4,882,657
$4.9M
Cap Rate 9%
$3,797,622
$3.8M
Market Conditions
NOI Build-Up for 22,761 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
$655.5K $28.80/SF
− Vacancy
−$34.1K −$1.50/SF
EGI
$621.4K $27.30/SF
− OpEx
−$279.6K −$12.29/SF
NOI
$341.8K $15.02/SF
Area
Fort Lauderdale, FL
Vacancy
5.20%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$6,835,720
Cap Rate 7%
$4,882,657
Cap Rate 9%
$3,797,622
Alternative Uses
Best Use
Apartment 5plus
$4.88M
$4.27M – $5.70M
NOI $341,786 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.30M
$13.38M – $17.84M
NOI $1,070,677 @ 7.0% cap · market cap 20.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
17
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,189
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
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?
Apartment building - A 38-unit residential community with 17 fully leased townhomes and a mix of 1- and 2-car garages.
Where is this apartment building located?
The property is located at 202 14th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: 38‑unit residential community in Fort Lauderdale, FL; 17 stabilized, fully leased townhomes within the 38‑unit community; Central air cooling and heating noted; year built 2007
