8-Unit Multifamily
For Sale
$1,500,000
615-619 NW 11th Avenue, Fort Lauderdale, FL 33311
A detached coin-operated laundry facility serves the two residential buildings.
Property Size3,443 SF
Lot Size0.39 Acres
Price / SF$435.67
Days on Market12
Property Features for 615-619 NW 11th Avenue
General Information
Standard status
Active
Size
3,443 SF
Total Parking Spaces
12
Lot size
0.39 Acres
Property subtype
Residential Income
Zoning
RMM-25
Additional Details
Gross Income
$110,000
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$19,120
Amenities
laundry facility
Building Details
Building Size
3,443 SF
Year Built
1953
Stories
1
Listing Agency:
Lifestyle International Realty
Listed By:
Bradley H Minto
(954) 249-9677
Source:
Laerrealty
Added: Sep 22
Changed: Sep 26
Last Checked: Oct 2 at 6:07PM
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 Lifestyle International Realty
Investment Insights
Based on property information with market context.
The property at 615–619 NW 11th Avenue in Fort Lauderdale comprises two residential buildings with four units apiece, along with a separate coin-operated laundry facility. The buildings contain approximately 3,443 square feet in total and were built in 1953. The site measures 16,875 square feet, or 0.39 acres.
Zoning is RMM-25, designated for Residential Multifamily Mid Rise/Medium High Density. The property may qualify for the City of Fort Lauderdale’s Live Local density bonus, subject to applicable requirements and approvals.
Zoning is RMM-25, designated for Residential Multifamily Mid Rise/Medium High Density. The property may qualify for the City of Fort Lauderdale’s Live Local density bonus, subject to applicable requirements and approvals.
Key Highlights
- Eight units across two residential buildings
- Approximately 3,443 square feet of building area
- 16,875‑square‑foot lot (0.39 acres)
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
$51,701
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
3.45%
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%
$1,034,020
$1.0M
Cap Rate 7%
$738,586
$738.6K
Cap Rate 9%
$574,456
$574.5K
Market Conditions
NOI Build-Up for 3,443 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
$99.2K $28.80/SF
− Vacancy
−$5.2K −$1.50/SF
EGI
$94.0K $27.30/SF
− OpEx
−$42.3K −$12.29/SF
NOI
$51.7K $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%
$1,034,020
Cap Rate 7%
$738,586
Cap Rate 9%
$574,456
Alternative Uses
Best Use
Apartment 5plus
$738.6K
$646.3K – $861.7K
NOI $51,701 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.31M
$2.02M – $2.70M
NOI $161,959 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
3,037
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?
Multifamily property - A detached coin-operated laundry facility serves the two residential buildings.
Where is this multifamily property located?
The property is located at 615-619 NW 11th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Eight units across two residential buildings; Approximately 3,443 square feet of building area; 16,875‑square‑foot lot (0.39 acres)
