Six-Unit Duplex
For Sale
$2,990,000
3450-3470 NW 17th Terrace, Oakland Park, FL 33309
Six adjacent residences offer separately metered ownership and consistent configuration within one assembled property.
Property Size11,652 SF
Price / SF$256.61
Days on Market145
Property Features for 3450-3470 NW 17th Terrace
General Information
Standard status
Active
Size
11,652 SF
Property subtype
Multi-family
Lease Term
[]
Units
Unit Mix
6 x 4BR/2.5BA
Multifamily Units
6
Additional Details
Utilities to Site
Yes
Building Details
Year Built
2007
Buildings
6
Listing Agency:
United Realty Group Inc
Listed By:
Alain Arwas · License #3209269
(954) 741-8228
Source:
Onesothebysrealty
Added: Apr 16
Changed: Aug 29
Last Checked: Sep 7 at 11:02AM
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 United Realty Group Inc
Investment Insights
Based on property information with market context.
This assembled duplex portfolio includes six adjacent residences, each built in 2007 with 1,947 square feet of living area, a garage, four bedrooms, and two-and-a-half bathrooms. The homes feature high-impact glass, 9-foot ceilings, stairway skylights, granite kitchen countertops, Roman-tub primary bathrooms, and private balconies and patios with water views. Each residence has its own electric meter, water meter, and folio number, with no HOA fees reported.
The properties are positioned along Northwest 17th Terrace in Oakland Park, Florida, on a cul-de-sac near parks. Their consecutive placement creates a unified ownership configuration while retaining separately identified residences. The package includes addresses from 3450 through 3470 Northwest 17th Terrace.
The properties are positioned along Northwest 17th Terrace in Oakland Park, Florida, on a cul-de-sac near parks. Their consecutive placement creates a unified ownership configuration while retaining separately identified residences. The package includes addresses from 3450 through 3470 Northwest 17th Terrace.
Key Highlights
- Six adjacent duplex residences offered as one package
- Each home includes 1,947 square feet, a garage, 4 bedrooms, and 2.5 bathrooms
- All six residences were built in 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
$194,237
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
6.50%
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%
$3,884,740
$3.9M
Cap Rate 7%
$2,774,814
$2.8M
Cap Rate 9%
$2,158,189
$2.2M
Market Conditions
NOI Build-Up for 11,652 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
$293.6K $25.20/SF
− Vacancy
−$16.1K −$1.39/SF
EGI
$277.5K $23.81/SF
− OpEx
−$83.2K −$7.14/SF
NOI
$194.2K $16.67/SF
Area
Broward County, 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%
$3,884,740
Cap Rate 7%
$2,774,814
Cap Rate 9%
$2,158,189
Alternative Uses
Best Use
Multifamily LT 5
$2.77M
$2.43M – $3.24M
NOI $194,237 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$2.56M
$2.24M – $2.99M
NOI $179,200 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$5.91M
$5.17M – $6.90M
NOI $413,809 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,533
Businesses Nearby
Explore this area
Business Placement
Demographics for 33309, FL
37,642
Population
14,783
Households
2.5
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
9.7 sq mi
ZIP Area
3,881
Density / Sq Mi
$73,496
Median Household Income
$35,850
Median Earnings
$1,829
Median Rent
$309,100
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?
Duplex - Six adjacent residences offer separately metered ownership and consistent configuration within one assembled property.
Where is this duplex located?
The property is located at 3450-3470 NW 17th Terrace Oakland Park, FL.
What is the asking price?
The asking price for this property is $2,990,000.
What are key features of this property?
This property features: Six adjacent duplex residences offered as one package; Each home includes 1,947 square feet, a garage, 4 bedrooms, and 2.5 bathrooms; All six residences were built in 2007
