Renovated Furnished Triplex with
For Sale
$894,770
5411 NE 22nd Terrace, Fort Lauderdale, FL 33308
Residential Income, Fort Lauderdale, FL
Property Size1,799 SF
Lot Size0.18 Acres
Price / SF$497.37
Days on Market96
Property Features for 5411 NE 22nd Terrace
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RD-15
Bedrooms
4
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 5, Bathroom 2, Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 2
Patio and Porch features
Porch
Pets allowed
Breed Restrictions, Yes
Pool private
1
Exterior features
Barbecue
Subdivision
CORAL RIDGE ADD
Elementary school
Floranada
Middle school
James S. Rickards
High school
Northeast
Standard status
Active
APN
494213062610
Size
1,799 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CORAL RIDGE ADD B 41-47 B LOT 19 BLK 11
Tax Annual Amount
14567
Legal Description
CORAL RIDGE ADD B 41-47 B LOT 19 BLK 11
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
private pool
Building Details
Year built
1958
Floors in Building
1
Number of units
3
Flooring type
Tile - Ceramic, Carpet
Building materials
CBS
Roof type
Composition, Shingle
Listing Agency:
PRA And Company Realtors
(754) 444-0853
Listed By:
Paul R Atkinson · License #3066946
(954) 461-1786
Added: May 22
Changed: Aug 19
Last Checked: Aug 25 at 3:06AM
MLS# B26031739
Copyright © 2026 BeachesMLS. 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 1,799-square-foot triplex on 0.18 acres is fully furnished and configured with an efficiency unit, a 1/1 unit, and a 2/2 unit. One unit has a long-term tenant, while the other two are operating as short-term rentals. The property has received extensive updates, including new roofs, air-conditioning systems, appliances, kitchens, and bathrooms. A private pool, porch, barbecue area, tile and carpet flooring, and CBS construction are also included.
Located at 5411 NE 22nd Terrace in Fort Lauderdale, the property is 2 miles from the beach, dining, nightlife, and the Lauderdale-By-The-Sea area. Public water and sewer serve the site, with cable available. The property was built in 1958 and is zoned RD-15.
Located at 5411 NE 22nd Terrace in Fort Lauderdale, the property is 2 miles from the beach, dining, nightlife, and the Lauderdale-By-The-Sea area. Public water and sewer serve the site, with cable available. The property was built in 1958 and is zoned RD-15.
Key Highlights
- 1,799‑square‑foot triplex on 0.18 acres
- Three‑unit configuration: efficiency, 1/1, and 2/2
- One long‑term tenant and two operating short‑term rental units
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
$29,989
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
3.35%
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%
$599,780
$599.8K
Cap Rate 7%
$428,414
$428.4K
Cap Rate 9%
$333,211
$333.2K
Market Conditions
NOI Build-Up for 1,799 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
$45.3K $25.20/SF
− Vacancy
−$2.5K −$1.39/SF
EGI
$42.8K $23.81/SF
− OpEx
−$12.9K −$7.14/SF
NOI
$30.0K $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%
$599,780
Cap Rate 7%
$428,414
Cap Rate 9%
$333,211
Alternative Uses
Best Use
Multifamily LT 5
$428.4K
$374.9K – $499.8K
NOI $29,989 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$385.9K
$337.7K – $450.2K
NOI $27,014 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,625 @ 7.0% cap · market cap 9.46%
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
2,743
Businesses Nearby
Explore this area
Business Placement
Demographics for 33308, FL
29,519
Population
23,230
Households
1.3
Avg Household Size
57
Median Age
56%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
6,417
Density / Sq Mi
$83,413
Median Household Income
$58,600
Median Earnings
$1,850
Median Rent
$536,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with an efficiency and two short-term rental units, updated interiors, and RD-15 zoning.
Where is this triplex located?
The property is located at 5411 NE 22nd Terrace Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $894,770.
What are key features of this property?
This property features: 1,799‑square‑foot triplex on 0.18 acres; Three‑unit configuration: efficiency, 1/1, and 2/2; One long‑term tenant and two operating short‑term rental units
