Four-Unit
For Sale
Contact for pricing
608 SW 16th Ave, Fort Lauderdale, FL 33312
Each residence offers a three-bedroom, two-bath layout within a multifamily property in Fort Lauderdale.
Property Size4,855 SF
Price / SF$283.21
Days on Market126
Property Features for 608 SW 16th Ave
General Information
Standard status
Active
Size
4,855 SF
Total Parking Spaces
5
Property subtype
Multifamily
Zoning
RM-15
Building Details
Year Built
1970
Stories
2
Units
4
Listing Agency:
Miami Residential Group
Listed By:
Cuindney Mantilla · License #3325552
(305) 400-6393
Source:
Crexi
Added: May 2
Changed: Sep 2
Last Checked: Sep 1 at 12:29AM
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 Miami Residential Group
Investment Insights
Based on property information with market context.
This RM-15-zoned quadplex contains four residential units, with each residence configured as three bedrooms and two bathrooms. The property was built in 1970 and has a stated property size of 4,855.
The building is located at 608 SW 16th Ave in Fort Lauderdale, Florida 33312. Its four-unit configuration provides a defined multifamily format for residential income use.
The building is located at 608 SW 16th Ave in Fort Lauderdale, Florida 33312. Its four-unit configuration provides a defined multifamily format for residential income use.
Key Highlights
- Four residential units in one quadplex
- Each unit has 3 bedrooms and 2 bathrooms
- RM‑15 zoning
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
$80,932
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
5.89%
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%
$1,618,640
$1.6M
Cap Rate 7%
$1,156,171
$1.2M
Cap Rate 9%
$899,244
$899.2K
Market Conditions
NOI Build-Up for 4,855 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
$122.3K $25.20/SF
− Vacancy
−$6.7K −$1.39/SF
EGI
$115.6K $23.81/SF
− OpEx
−$34.7K −$7.14/SF
NOI
$80.9K $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%
$1,618,640
Cap Rate 7%
$1,156,171
Cap Rate 9%
$899,244
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.01M – $1.35M
NOI $80,932 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$1.04M
$911.3K – $1.22M
NOI $72,904 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$3.26M
$2.85M – $3.81M
NOI $228,379 @ 7.0% cap · market cap 16.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,218
Businesses Nearby
Explore this area
Business Placement
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
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?
Quadplex - Each residence offers a three-bedroom, two-bath layout within a multifamily property in Fort Lauderdale.
Where is this quadplex located?
The property is located at 608 SW 16th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Four residential units in one quadplex; Each unit has 3 bedrooms and 2 bathrooms; RM‑15 zoning
