Furnished Triplex with
New
For Sale
$950,000
509 Se 19th St, Fort Lauderdale, FL 33316
Three furnished residences across two detached buildings, with renovated interiors and flexible month-to-month occupancy.
Property Size2,886 SF
Price / SF$329.18
Days on Market6
Property Features for 509 Se 19th St
General Information
Standard status
Active
Size
2,886 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$15,770
Listing Agency:
Real Broker LLC
(855) 450-0442
Listed By:
Joseph Brikman · License #3483305
(929) 842-3080
Source:
Exprealty
Added: Sep 8
Changed: Sep 13
Last Checked: Sep 12 at 2:33PM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
This triplex includes 2,886 square feet across two free-standing buildings containing three furnished residences: one three-bedroom unit and two oversized studios. The property has undergone extensive renovations, including impact-rated windows and doors, new kitchens and bathrooms, updated electrical systems, new flooring, a resurfaced pool, and refreshed landscaping. All three units are occupied on month-to-month arrangements, and the current tenants are willing to consider longer leases with a new owner.
The property is located at 509 SE 19th St in Fort Lauderdale, minutes from Las Olas, Downtown Fort Lauderdale, area beaches, FLL Airport, dining, shopping, and nightlife. The furnished configuration and existing occupancy provide an established residential income setup while retaining flexible lease terms.
The property is located at 509 SE 19th St in Fort Lauderdale, minutes from Las Olas, Downtown Fort Lauderdale, area beaches, FLL Airport, dining, shopping, and nightlife. The furnished configuration and existing occupancy provide an established residential income setup while retaining flexible lease terms.
Key Highlights
- Three furnished units: one 3BR and two oversized studios
- 2,886 square feet across two free‑standing buildings
- Impact windows and doors, updated electrical, new flooring, kitchens, and baths
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
5.06%
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 5.06%
Second Best
Apartment 5plus
$619.1K
$541.7K – $722.3K
NOI $43,337 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$1.94M
$1.70M – $2.26M
NOI $135,757 @ 7.0% cap · market cap 14.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three furnished residences across two detached buildings, with renovated interiors and flexible month-to-month occupancy.
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 $950,000.
What are key features of this property?
This property features: Three furnished units: one 3BR and two oversized studios; 2,886 square feet across two free‑standing buildings; Impact windows and doors, updated electrical, new flooring, kitchens, and baths
