Triplex with
For Sale
$999,000
509 SE 19th St, Fort Lauderdale, FL 33316
Income-producing property combines a primary residence with two equipped studio units and outdoor amenity space.
Property Size2,886 SF
Days on Market142
Property Features for 509 SE 19th St
General Information
Standard status
Active
Size
2,886 SF
Property subtype
Investment
Units
Unit Mix
1 x 3BR/1BA, 2 x studio
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$15,770
Amenities
pool
Building Details
Building Size
2,886 SF
Year Built
1963
Stories
1
Units
3
Listing Agency:
The Real Estate Lab, Inc.
(305) 753-4946
Listed By:
Yosi Tal · License #3499421
(305) 753-4946
Source:
Elliman
Added: Apr 12
Changed: Aug 29
Last Checked: Aug 30 at 7:07PM
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 The Real Estate Lab, Inc.
Investment Insights
Based on property information with market context.
This Fort Lauderdale triplex includes a main residence with 3 bedrooms and 1 bathroom, along with two fully equipped studio units. The property also features an in-ground pool and patio area, providing additional outdoor space alongside the residential improvements.
The property is located at 509 SE 19th St, within walking distance of bars, restaurants, and local shops. Fort Lauderdale-Hollywood International Airport, Port Everglades, beaches, downtown, and Las Olas Boulevard are described as minutes away.
The property is located at 509 SE 19th St, within walking distance of bars, restaurants, and local shops. Fort Lauderdale-Hollywood International Airport, Port Everglades, beaches, downtown, and Las Olas Boulevard are described as minutes away.
Key Highlights
- Main residence with 3 bedrooms and 1 bathroom
- Two fully equipped studio units
- In‑ground pool and patio area
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
$48,109
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
4.82%
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%
$962,180
$962.2K
Cap Rate 7%
$687,271
$687.3K
Cap Rate 9%
$534,544
$534.5K
Market Conditions
NOI Build-Up for 2,886 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
$72.7K $25.20/SF
− Vacancy
−$4.0K −$1.39/SF
EGI
$68.7K $23.81/SF
− OpEx
−$20.6K −$7.14/SF
NOI
$48.1K $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%
$962,180
Cap Rate 7%
$687,271
Cap Rate 9%
$534,544
Alternative Uses
Best Use
Multifamily LT 5
$687.3K
$601.4K – $801.8K
NOI $48,109 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$619.1K
$541.7K – $722.3K
NOI $43,337 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$1.94M
$1.70M – $2.26M
NOI $135,757 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,496
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?
Triplex - Income-producing property combines a primary residence with two equipped studio units and outdoor amenity space.
Where is this triplex located?
The property is located at 509 SE 19th St Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Main residence with 3 bedrooms and 1 bathroom; Two fully equipped studio units; In‑ground pool and patio area
