Duplex with Private Fenced
For Sale
Contact for pricing
516 SW 15th Street # 1 #1-1, Fort Lauderdale, FL 33315
Two separate homes share one lot, each with its own private fenced yard and dedicated access for flexible living or rentals.
Property Size1,626 SF
Price / SF$421.28
Days on Market125
Property Features for 516 SW 15th Street # 1 #1-1
General Information
Standard status
Active
Size
1,626 SF
Property subtype
Multifamily
Zoning
RD-15
Building Details
Year Built
1952
Units
2
Listing Agency:
LoKation
(754) 235-7012
Listed By:
Alex Simpson · License #3560581
Source:
Crexi
Added: Apr 16
Changed: Aug 14
Last Checked: Aug 17 at 9:47AM
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 LoKation
Investment Insights
Based on property information with market context.
This duplex includes two completely separate homes on one lot, each designed with its own private fenced yard to support privacy and day-to-day flexibility. The front home is accessed from SW 15th St, while the rear home uses convenient alley access. Outside space is set up to be low-maintenance, creating usable outdoor areas for each residence.
The property is located in Croissant Park and is positioned just minutes from downtown Fort Lauderdale, I-95, I-595, and Fort Lauderdale-Hollywood International Airport. It is also described as close to boating marinas, Fort Lauderdale Beach, and Broward Health, placing it within reach of major employment, travel, and recreation options.
As a for-sale opportunity, the layout suits both investors and owner-occupants who want the option to live in one home while renting the other. The separate entrances and private fenced yards provide a practical framework for maintaining distinct household routines. The property is also reported not to have flooded in 2023 during a “generational flood.”
The property is located in Croissant Park and is positioned just minutes from downtown Fort Lauderdale, I-95, I-595, and Fort Lauderdale-Hollywood International Airport. It is also described as close to boating marinas, Fort Lauderdale Beach, and Broward Health, placing it within reach of major employment, travel, and recreation options.
As a for-sale opportunity, the layout suits both investors and owner-occupants who want the option to live in one home while renting the other. The separate entrances and private fenced yards provide a practical framework for maintaining distinct household routines. The property is also reported not to have flooded in 2023 during a “generational flood.”
Key Highlights
- Two separate homes on one lot, each with its own private fenced yard
- Front home accessed from SW 15th St; rear home accessed via convenient alley access
- Year built: 1952
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
$27,105
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
3.96%
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%
$542,100
$542.1K
Cap Rate 7%
$387,214
$387.2K
Cap Rate 9%
$301,167
$301.2K
Market Conditions
NOI Build-Up for 1,626 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
$41.0K $25.20/SF
− Vacancy
−$2.3K −$1.39/SF
EGI
$38.7K $23.81/SF
− OpEx
−$11.6K −$7.14/SF
NOI
$27.1K $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%
$542,100
Cap Rate 7%
$387,214
Cap Rate 9%
$301,167
Alternative Uses
Best Use
Multifamily LT 5
$387.2K
$338.8K – $451.8K
NOI $27,105 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$348.8K
$305.2K – $407.0K
NOI $24,417 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$1.09M
$956.1K – $1.27M
NOI $76,487 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,744
Businesses Nearby
Explore this area
Business Placement
Demographics for 33315, FL
13,555
Population
6,991
Households
1.9
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
5.3 sq mi
ZIP Area
2,558
Density / Sq Mi
$90,760
Median Household Income
$43,815
Median Earnings
$1,789
Median Rent
$492,400
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 - Two separate homes share one lot, each with its own private fenced yard and dedicated access for flexible living or rentals.
Where is this duplex located?
The property is located at 516 SW 15th Street # 1 #1-1 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Two separate homes on one lot, each with its own private fenced yard; Front home accessed from SW 15th St; rear home accessed via convenient alley access; Year built: 1952
