Renovated Furnished
New
For Sale
$950,000
509 SE 19th St, Fort Lauderdale, FL 33316
Residential Income, Fort Lauderdale, FL
Property Size2,886 SF
Price / SF$329.18
Days on Market1
Property Features for 509 SE 19th St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
RO
Bedrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 1
Parking
4
Security features
Security
Exterior features
Security/High Impact Doors, Storm/Security Shutters
Subdivision
CROISSANT PARK
Lot features
< 1/4 Acre
Directions
USE GOOGLE MAPS - SUPER EASY TO NAVIGATE
Standard status
Active
APN
504215104300
Size
2,886 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
CROISSANT PARK 4-28 B LOT 21 BLK 55
Tax Annual Amount
15770
Legal Description
CROISSANT PARK 4-28 B LOT 21 BLK 55
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
pool
Building Details
Year built
1958
Floors in Building
3
Flooring type
Vinyl
Building materials
Block
Roof type
Tile, Flat
Listing Agency:
Real Broker LLC
(855) 450-0442
Listed By:
Joseph Brikman · License #3483305
(929) 842-3080
Added: Sep 8
Last Checked: Sep 8 at 11:06PM
MLS# A12079723
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 2,886-square-foot triplex comprises two freestanding buildings with three furnished residences: one three-bedroom unit and two oversized studios. The property has undergone a comprehensive renovation that includes impact windows and doors, updated kitchens and bathrooms, new flooring, refreshed electrical systems, a resurfaced pool, and new landscaping. Block construction, central heating, central air, vinyl flooring, tile and flat roofing, public sewer, and cable availability are also reported.
All three units are occupied on a month-to-month basis, providing flexibility in lease structure. Tenants are willing to sign longer-term leases with a new owner. The property is located in Fort Lauderdale near Downtown, the beaches, FLL Airport, dining, shopping, and nightlife. The address is 509 SE 19th St, Fort Lauderdale, FL 33316.
All three units are occupied on a month-to-month basis, providing flexibility in lease structure. Tenants are willing to sign longer-term leases with a new owner. The property is located in Fort Lauderdale near Downtown, the beaches, FLL Airport, dining, shopping, and nightlife. The address is 509 SE 19th St, Fort Lauderdale, FL 33316.
Key Highlights
- 2,886‑square‑foot triplex with three furnished units
- Two freestanding buildings: one 3BR unit and two oversized studios
- Fully renovated with new kitchens, bathrooms, flooring, electrical, windows, and doors
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
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 - Three furnished units in two freestanding buildings, with a renovated interior, pool, and 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: 2,886‑square‑foot triplex with three furnished units; Two freestanding buildings: one 3BR unit and two oversized studios; Fully renovated with new kitchens, bathrooms, flooring, electrical, windows, and doors
