Legal Duplex on Corner
For Sale
Contact for pricing
500 NE 14TH Street, Fort Lauderdale, FL 33304
Impeccably maintained legal duplex with two electric meters, two addresses, and three paved parking spaces.
Property Size1,416 SF
Price / SF$420.20
Days on Market26
Property Features for 500 NE 14TH Street
General Information
Standard status
Active
Size
1,416 SF
Total Parking Spaces
3
Property subtype
Multifamily
Zoning
RM-15
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Building Details
Year Built
1958
Units
2
Listing Agency:
Team Effort Real Estate Inc
(954) 612-1400
Listed By:
Peter Orenchuk · License #3051307
Source:
Crexi
Added: Jul 16
Changed: Aug 8
Last Checked: Aug 9 at 1:45PM
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 Team Effort Real Estate Inc
Investment Insights
Based on property information with market context.
Impeccably maintained legal duplex currently occupied as a single-family home. The property is set up with 2 electric meters, 2 addresses, and 2 hot water heaters, providing a practical foundation for separate living arrangements. With configuration flexibility, it can operate as a 1/1 plus 2/2 layout with 2 kitchens and 3 full bathrooms. A washer/dryer is excluded.
Outside, the duplex sits on a corner lot and features mature exotic foliage, a fountain with aquatic plants, and 2 large storage sheds. The perimeter is enclosed with a complete decorative wood privacy fence with 3 gates, and there are 3 paved parking spaces.
Outside, the duplex sits on a corner lot and features mature exotic foliage, a fountain with aquatic plants, and 2 large storage sheds. The perimeter is enclosed with a complete decorative wood privacy fence with 3 gates, and there are 3 paved parking spaces.
Key Highlights
- Impeccably maintained legal duplex (built 1958) currently occupied as a single‑family home
- 2 electric meters and 2 addresses; has 2 hot water heaters
- Flexible layout: can operate as a 1/1 + 2/2 with 2 kitchens and 3 full bathrooms
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
$23,604
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
3.97%
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%
$472,080
$472.1K
Cap Rate 7%
$337,200
$337.2K
Cap Rate 9%
$262,267
$262.3K
Market Conditions
NOI Build-Up for 1,416 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
$35.7K $25.20/SF
− Vacancy
−$2.0K −$1.39/SF
EGI
$33.7K $23.81/SF
− OpEx
−$10.1K −$7.14/SF
NOI
$23.6K $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%
$472,080
Cap Rate 7%
$337,200
Cap Rate 9%
$262,267
Alternative Uses
Best Use
Multifamily LT 5
$337.2K
$295.1K – $393.4K
NOI $23,604 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$303.8K
$265.8K – $354.4K
NOI $21,263 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$951.6K
$832.6K – $1.11M
NOI $66,609 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,753
Businesses Nearby
Explore this area
Business Placement
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
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 - Impeccably maintained legal duplex with two electric meters, two addresses, and three paved parking spaces.
Where is this duplex located?
The property is located at 500 NE 14TH Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Impeccably maintained legal duplex (built 1958) currently occupied as a single‑family home; 2 electric meters and 2 addresses; has 2 hot water heaters; Flexible layout: can operate as a 1/1 + 2/2 with 2 kitchens and 3 full bathrooms
