Renovated Triplex with Newer
For Sale
$799,900
612 NW 10th Ter, Fort Lauderdale, FL 33311
MULTI_FAMILY - Fort Lauderdale, FL
Property Size1,958 SF
Price / SF$408.53
Days on Market38
Property Features for 612 NW 10th Ter
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
RMM-25
Bedrooms
7
Full bathrooms
3
Rooms
Bedroom 7, Bedroom 4, Bedroom 5, Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 6, Bedroom 2, Bedroom 1
Parking
4
Window features
Blinds
Exterior features
Barbecue, Fence, Lighting
Fencing
Fenced
Subdivision
PROGRESSO
Lot features
Sprinklers Automatic, < 1/4 Acre
Standard status
Active
APN
494234078640
Size
1,958 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
PROGRESSO 2-18 D LOT 30,31 BLK 330
Tax Annual Amount
11082
Legal Description
PROGRESSO 2-18 D LOT 30,31 BLK 330
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1962
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
Epique Realty Inc.
(888) 893-3537
Listed By:
Shirelle TianVan · License #0647414
(954) 205-4995
Added: Jul 18
Changed: Aug 8
Last Checked: Aug 24 at 6:06PM
MLS# A11975415
Copyright © 2026 Miami REALTORS®. 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 beautifully renovated triplex (block construction) is configured for income as a short-term rental and is currently operating as such. The interior features ceramic tile flooring, and the home is served by central heating with cooling provided by ceiling fan(s). The roof is shingle, and the property includes a newer roof. Exterior features include a fenced yard with lighting, plus a barbecue area.
Built in 1962, the triplex is on public utilities including public water and public sewer, with cable available. The property includes multiple bedrooms and bathrooms across the units, providing flexibility for short-term rental setups.
For buyers seeking a residential income property that can be occupied while generating rental revenue, this triplex offers a straightforward, ready-to-use configuration with the benefits of recent interior updates and roof replacement.
Built in 1962, the triplex is on public utilities including public water and public sewer, with cable available. The property includes multiple bedrooms and bathrooms across the units, providing flexibility for short-term rental setups.
For buyers seeking a residential income property that can be occupied while generating rental revenue, this triplex offers a straightforward, ready-to-use configuration with the benefits of recent interior updates and roof replacement.
Key Highlights
- Triplex built with block construction
- Renovated interior with ceramic porcelain tile flooring
- Newer shingle roof
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
$32,639
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
4.08%
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%
$652,780
$652.8K
Cap Rate 7%
$466,271
$466.3K
Cap Rate 9%
$362,656
$362.7K
Market Conditions
NOI Build-Up for 1,958 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
$49.3K $25.20/SF
− Vacancy
−$2.7K −$1.39/SF
EGI
$46.6K $23.81/SF
− OpEx
−$14.0K −$7.14/SF
NOI
$32.6K $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%
$652,780
Cap Rate 7%
$466,271
Cap Rate 9%
$362,656
Alternative Uses
Best Use
Multifamily LT 5
$466.3K
$408.0K – $544.0K
NOI $32,639 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$420.0K
$367.5K – $490.0K
NOI $29,402 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,104 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,118
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?
Triplex - Renovated triplex featuring ceramic porcelain flooring, central heat, fenced exterior, and a newer shingle roof.
Where is this triplex located?
The property is located at 612 NW 10th Ter Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Triplex built with block construction; Renovated interior with ceramic porcelain tile flooring; Newer shingle roof
