Five-Unit Multifamily
For Sale
Contact for pricing
600 SW 9th Street # 5 #1-5, Fort Lauderdale, FL 33315
Five income-producing units in Fort Lauderdale, offered for sale to cash buyers only due to below-average condition.
Property Size3,580 SF
Price / SF$306.98
Days on Market129
Property Features for 600 SW 9th Street # 5 #1-5
General Information
Standard status
Active
Size
3,580 SF
Total Parking Spaces
8
Property subtype
Mixed Use
Zoning
RD-15
Additional Details
Business Included
Yes
Multifamily Units
5
Building Details
Year Built
1918
Buildings
2
Stories
2
Units
8
Tenancy
Multi
Listing Agency:
Homeinc Realty LLC
(954) 648-8266
Listed By:
Peter Cacciatore · License #3460955
Source:
Crexi
Added: Apr 8
Changed: Aug 8
Last Checked: Jul 15 at 8:06PM
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 Homeinc Realty LLC
Investment Insights
Based on property information with market context.
This for-sale multifamily property includes five income-producing units within approximately 4,385 square feet of total living space. The building is situated on an oversized lot, and the overall condition is described as below average, with the asking price reflecting that condition.
Located at 600 SW 9th Street # 5 #1-5 in Fort Lauderdale, the property is configured as a small, five-unit residential income building. The offering is presented as an investment property, with each unit contributing to the building’s current income-producing structure.
The property is being marketed as a cash-only purchase. For buyers and investors, the practical appeal is straightforward: it provides five units under one ownership, while the below-average condition creates a clear opportunity for a buyer prepared to handle repairs and updates. Interested parties should plan to underwrite the property’s condition and operational requirements as they relate to the five existing units.
Located at 600 SW 9th Street # 5 #1-5 in Fort Lauderdale, the property is configured as a small, five-unit residential income building. The offering is presented as an investment property, with each unit contributing to the building’s current income-producing structure.
The property is being marketed as a cash-only purchase. For buyers and investors, the practical appeal is straightforward: it provides five units under one ownership, while the below-average condition creates a clear opportunity for a buyer prepared to handle repairs and updates. Interested parties should plan to underwrite the property’s condition and operational requirements as they relate to the five existing units.
Key Highlights
- Five income‑producing units in Fort Lauderdale
- Approximately 4,385 sq ft total living space across 5 units
- Year built 1918
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
$53,758
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
4.89%
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%
$1,075,160
$1.1M
Cap Rate 7%
$767,971
$768.0K
Cap Rate 9%
$597,311
$597.3K
Market Conditions
NOI Build-Up for 3,580 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
$103.1K $28.80/SF
− Vacancy
−$5.4K −$1.50/SF
EGI
$97.7K $27.30/SF
− OpEx
−$44.0K −$12.29/SF
NOI
$53.8K $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%
$1,075,160
Cap Rate 7%
$767,971
Cap Rate 9%
$597,311
Alternative Uses
Best Use
Apartment 5plus
$768.0K
$672.0K – $896.0K
NOI $53,758 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,403 @ 7.0% cap · market cap 15.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,992
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?
Apartment building - Five income-producing units in Fort Lauderdale, offered for sale to cash buyers only due to below-average condition.
Where is this apartment building located?
The property is located at 600 SW 9th Street # 5 #1-5 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,098,990.
What are key features of this property?
This property features: Five income‑producing units in Fort Lauderdale; Approximately 4,385 sq ft total living space across 5 units; Year built 1918
