Seven-Unit Apartment
For Sale
$850,000
Pending
519 NW 8th Ave, Fort Lauderdale, FL 33311
Fully leased multifamily asset with central air, ceramic tile flooring, on-site parking, and substantial storage space.
Property Size4,037 SF
Days on Market2835
Property Features for 519 NW 8th Ave
General Information
Standard status
Pending
Size
4,037 SF
Property subtype
General Commercial
Occupancy
100%
Units
Unit Mix
7 x 2BR/1BA
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$9,055
Amenities
central A/C
storage room
3
7 Parking Spaces.
Building Details
Year Built
1960
Buildings
2
Construction
CBS
Listing Agency:
(754) 900-1900
Listed By:
Meridian Commercial
(954) 918-4902
Source:
Xome
Added: Nov 28, 2018
Changed: Aug 30
Last Checked: Aug 30 at 4:50AM
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 Meridian Commercial
Investment Insights
Based on property information with market context.
This apartment property includes two buildings with seven 2-bedroom, 1-bath units totaling 4,037 square feet. Built in 1960, the improvements feature CBS construction, centralized air conditioning, ceramic tile flooring, a large storage room, and seven parking spaces. All units are currently leased.
Located at 519 NW 8th Ave in Fort Lauderdale, the property is offered as an individual acquisition or as part of a larger portfolio. The existing storage area provides space for a potential laundry room, subject to the applicable approvals and buildout requirements. Showings are available by appointment and should be coordinated without disturbing residents.
Located at 519 NW 8th Ave in Fort Lauderdale, the property is offered as an individual acquisition or as part of a larger portfolio. The existing storage area provides space for a potential laundry room, subject to the applicable approvals and buildout requirements. Showings are available by appointment and should be coordinated without disturbing residents.
Key Highlights
- Two buildings containing seven 2‑bedroom, 1‑bath units
- 4,037 square feet of apartment space
- 100% leased occupancy
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
$60,621
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
7.13%
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%
$1,212,420
$1.2M
Cap Rate 7%
$866,014
$866.0K
Cap Rate 9%
$673,567
$673.6K
Market Conditions
NOI Build-Up for 4,037 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
$116.3K $28.80/SF
− Vacancy
−$6.0K −$1.50/SF
EGI
$110.2K $27.30/SF
− OpEx
−$49.6K −$12.29/SF
NOI
$60.6K $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%
$1,212,420
Cap Rate 7%
$866,014
Cap Rate 9%
$673,567
Alternative Uses
Best Use
Apartment 5plus
$866.0K
$757.8K – $1.01M
NOI $60,621 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.71M
$2.37M – $3.17M
NOI $189,900 @ 7.0% cap · market cap 22.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,787
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
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 - Fully leased multifamily asset with central air, ceramic tile flooring, on-site parking, and substantial storage space.
Where is this apartment building located?
The property is located at 519 NW 8th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two buildings containing seven 2‑bedroom, 1‑bath units; 4,037 square feet of apartment space; 100% leased occupancy
