Fort Lauderdale Multifamily Investment
For Sale
$6,500,000
Pending
500 SE 22nd St, Fort Lauderdale, FL 33316
26-unit multifamily property in Fort Lauderdale's Poinciana Park neighborhood.
Property Size8,136 SF
Lot Size0.31 Acres
Days on Market156
Property Features for 500 SE 22nd St
General Information
Standard status
Pending
Size
8,136 SF
Lot size
0.31 Acres
Property subtype
Commercial
Building Details
Building Size
8,136 SF
Year Built
1959
Listing Agency:
Native Realty Co.
(954) 595-2999
Listed By:
Jaime Sturgis · License #3246270
(954) 595-2999
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 7 at 6:13AM
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 Native Realty Co.
Investment Insights
Based on property information with market context.
This multifamily property is located in Fort Lauderdale's Poinciana Park neighborhood. The property consists of two folios with a total of 26 units, encompassing 16,272 square feet of building space on a 26,998 square foot parcel of land. The unit mix includes 4 studio apartments, 14 one-bedroom, one-bath apartments, and 8 two-bedroom, two-bath apartments. The property also features a coin-operated laundry room for additional income. The zoning is RMM-25. Ample parking is available, and the units are individually metered.
Key Highlights
- Multi‑family property with 26 units in Fort Lauderdale's Poinciana Park
- Desirable unit mix: Studios, 1 BR/1 Bath, and 2 BR/2 Bath apartments
- RMM‑25 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
$244,346
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
3.76%
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%
$4,886,920
$4.9M
Cap Rate 7%
$3,490,657
$3.5M
Cap Rate 9%
$2,714,956
$2.7M
Market Conditions
NOI Build-Up for 16,272 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
$468.6K $28.80/SF
− Vacancy
−$24.4K −$1.50/SF
EGI
$444.3K $27.30/SF
− OpEx
−$199.9K −$12.29/SF
NOI
$244.3K $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%
$4,886,920
Cap Rate 7%
$3,490,657
Cap Rate 9%
$2,714,956
Alternative Uses
Best Use
Apartment 5plus
$3.49M
$3.05M – $4.07M
NOI $244,346 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.93M
$9.57M – $12.76M
NOI $765,435 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,172
Businesses Nearby
Explore this area
Business Placement
Demographics for 33316, FL
12,669
Population
8,946
Households
1.4
Avg Household Size
50
Median Age
54%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
3,090
Density / Sq Mi
$89,200
Median Household Income
$52,992
Median Earnings
$2,047
Median Rent
$793,500
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?
Apartment building - 26-unit multifamily property in Fort Lauderdale's Poinciana Park neighborhood.
Where is this apartment building located?
The property is located at 500 SE 22nd St Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Multi‑family property with 26 units in Fort Lauderdale's Poinciana Park; Desirable unit mix: Studios, 1 BR/1 Bath, and 2 BR/2 Bath apartments; RMM‑25 zoning
