Remodeled Multifamily
For Sale
Contact for pricing
417 NW 15th Ave, Fort Lauderdale, FL 33311
Tenant-occupied units provide in-place rental income with updated interiors.
Property Size1,988 SF
Price / SF$402.36
Days on Market14
Property Features for 417 NW 15th Ave
General Information
Standard status
Active
Size
1,988 SF
Total Parking Spaces
6
Property subtype
Multifamily
Zoning
RS-8
Building Details
Year Built
1957
Tenancy
Multi
Listing Agency:
Compass Florida, LLC
Listed By:
Alana Mujica · License #3484300
(786) 823-1688
Source:
Crexi
Added: Aug 26
Changed: Sep 2
Last Checked: Sep 8 at 3:46AM
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 Compass Florida, LLC
Investment Insights
Based on property information with market context.
This multifamily property includes remodeled units with updated interiors and is currently occupied by tenants. The sale includes the existing tenancy, providing an operating rental property rather than a vacant asset. The property was built in 1957 and carries RS-8 zoning.
Located at 417 NW 15th Ave in Fort Lauderdale, the property is near major roads, shopping, dining, schools, Downtown Fort Lauderdale, and area attractions. Showings require advance notice and coordination through the listing agent, and access should not occur without a confirmed appointment.
Located at 417 NW 15th Ave in Fort Lauderdale, the property is near major roads, shopping, dining, schools, Downtown Fort Lauderdale, and area attractions. Showings require advance notice and coordination through the listing agent, and access should not occur without a confirmed appointment.
Key Highlights
- Remodeled multifamily units with updated interiors
- Currently tenant‑occupied with existing tenancy included in the sale
- RS‑8 zoning
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
$29,852
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
3.73%
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%
$597,040
$597.0K
Cap Rate 7%
$426,457
$426.5K
Cap Rate 9%
$331,689
$331.7K
Market Conditions
NOI Build-Up for 1,988 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
$57.3K $28.80/SF
− Vacancy
−$3.0K −$1.50/SF
EGI
$54.3K $27.30/SF
− OpEx
−$24.4K −$12.29/SF
NOI
$29.9K $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%
$597,040
Cap Rate 7%
$426,457
Cap Rate 9%
$331,689
Alternative Uses
Best Use
Apartment 5plus
$426.5K
$373.2K – $497.5K
NOI $29,852 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,516 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,695
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?
Multifamily property - Tenant-occupied units provide in-place rental income with updated interiors.
Where is this multifamily property located?
The property is located at 417 NW 15th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Remodeled multifamily units with updated interiors; Currently tenant‑occupied with existing tenancy included in the sale; RS‑8 zoning
