Triplex with Renovated Upper
New
For Sale
$825,000
317 SW 9TH Avenue # 3 Unit 1-3, Fort Lauderdale, FL 33312
Two-story residential income property with separate utility meters and first-floor units requiring renovation.
Property Size1,820 SF
Days on Market3
Property Features for 317 SW 9TH Avenue # 3 Unit 1-3
General Information
Standard status
Active
Size
1,820 SF
Property subtype
Triplex
Property Condition
Severity
Repairs Needed
Evidence
sustained water damage from flooding and require renovation and repairs
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$18,596
Building Details
Building Size
1,820 SF
Year Built
1952
Stories
2
Listing Agency:
Smart Property Moves LLC
Listed By:
Cindy L Carrion Sarro · License #702727
(954) 309-7373
Source:
Relinkre
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 2:14PM
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 Smart Property Moves LLC
Investment Insights
Based on property information with market context.
This two-story triplex contains three separately accessed residences. The upper-level unit includes one bedroom, one bathroom, a full kitchen, living space, and laundry facilities; it has been renovated and is occupied. Two ground-floor units each have private entrances but experienced flood-related water damage and require repairs and renovation. The property has 3 separate meters and 2 mini split A/C units, while the roof age is not established and no permits are of record.
Located at 317 SW 9th Avenue in Fort Lauderdale’s Sailboat Bend Historic District, the property is within the Waverly Place area. A stormwater improvement initiative is underway in the district, and a flooding insurance claim has been issued. The property is in foreclosure, has a current City of Fort Lauderdale lien, and is being offered as a short sale.
Located at 317 SW 9th Avenue in Fort Lauderdale’s Sailboat Bend Historic District, the property is within the Waverly Place area. A stormwater improvement initiative is underway in the district, and a flooding insurance claim has been issued. The property is in foreclosure, has a current City of Fort Lauderdale lien, and is being offered as a short sale.
Key Highlights
- Three‑unit residential property built in 1952
- Renovated second‑floor 1 bedroom/1 bathroom unit with full kitchen, living area, and laundry
- Two first‑floor units have private entrances and require renovation after flood‑related water damage
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
$30,339
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
3.68%
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%
$606,780
$606.8K
Cap Rate 7%
$433,414
$433.4K
Cap Rate 9%
$337,100
$337.1K
Market Conditions
NOI Build-Up for 1,820 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
$45.9K $25.20/SF
− Vacancy
−$2.5K −$1.39/SF
EGI
$43.3K $23.81/SF
− OpEx
−$13.0K −$7.14/SF
NOI
$30.3K $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%
$606,780
Cap Rate 7%
$433,414
Cap Rate 9%
$337,100
Alternative Uses
Best Use
Multifamily LT 5
$433.4K
$379.2K – $505.7K
NOI $30,339 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$390.4K
$341.6K – $455.5K
NOI $27,330 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,613 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
6,386
Businesses Nearby
Explore this area
Business Placement
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
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 - Two-story residential income property with separate utility meters and first-floor units requiring renovation.
Where is this triplex located?
The property is located at 317 SW 9TH Avenue # 3 Unit 1-3 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Three‑unit residential property built in 1952; Renovated second‑floor 1 bedroom/1 bathroom unit with full kitchen, living area, and laundry; Two first‑floor units have private entrances and require renovation after flood‑related water damage
