Remodeled Tenant-Occupied
New
For Sale
$799,900
417 NW 15th Ave, Fort Lauderdale, FL 33311
Residential Income, Fort Lauderdale, FL
Property Size1,988 SF
Price / SF$402.36
Days on Market4
Property Features for 417 NW 15th Ave
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
RS-8
Bedrooms
6
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 6, Bedroom 3
Parking
6
Subdivision
DORSEY PARK FIRST ADD
Lot features
< 1/4 Acre
Standard status
Active
APN
504204240830
Size
1,988 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
DORSEY PARK FIRST ADD 21-30 B LOT 11 BLK 4
Tax Annual Amount
12406
Legal Description
DORSEY PARK FIRST ADD 21-30 B LOT 11 BLK 4
Utilities
Sewer type
Public Sewer
Building Details
Year built
1957
Floors in Building
1
Flooring type
Laminate
Building materials
Block
Roof type
Shingle
Listing Agency:
Compass Florida, LLC
(305) 315-2396
Listed By:
Alana Mujica · License #3484300
(786) 823-1688
Added: Aug 26
Last Checked: Aug 29 at 3:06AM
MLS# A12077868
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Fort Lauderdale triplex contains 1,988 square feet and is currently occupied by tenants. Interior remodeling has introduced updated finishes, including laminate flooring, while the building is constructed with block materials and covered by a shingle roof. The property was built in 1957 and is served by public sewer.
Located at 417 NW 15th Ave, the property is near major roads, shopping, dining, schools, Downtown Fort Lauderdale, and area attractions. The sale includes the existing tenancy, and property access requires advance coordination with the listing agent. Showings must be scheduled in advance, and unaccompanied visits are not permitted.
Located at 417 NW 15th Ave, the property is near major roads, shopping, dining, schools, Downtown Fort Lauderdale, and area attractions. The sale includes the existing tenancy, and property access requires advance coordination with the listing agent. Showings must be scheduled in advance, and unaccompanied visits are not permitted.
Key Highlights
- Triplex with 1,988 square feet of building area
- Existing tenants in place at closing
- Remodeled units with updated interiors and laminate flooring
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
$33,140
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
4.14%
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%
$662,800
$662.8K
Cap Rate 7%
$473,429
$473.4K
Cap Rate 9%
$368,222
$368.2K
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
$50.1K $25.20/SF
− Vacancy
−$2.8K −$1.39/SF
EGI
$47.3K $23.81/SF
− OpEx
−$14.2K −$7.14/SF
NOI
$33.1K $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%
$662,800
Cap Rate 7%
$473,429
Cap Rate 9%
$368,222
Alternative Uses
Best Use
Multifamily LT 5
$473.4K
$414.3K – $552.3K
NOI $33,140 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$426.5K
$373.2K – $497.5K
NOI $29,852 @ 7.0% cap · market cap 3.73%
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
Location Intelligence
Trade Area within ½ mile
1,327
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?
Triplex - Updated interiors, existing occupants, and public sewer support continued multifamily use in Fort Lauderdale.
Where is this triplex 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: Triplex with 1,988 square feet of building area; Existing tenants in place at closing; Remodeled units with updated interiors and laminate flooring
