Renovated Duplex with Shared
For Sale
$950,000
Pending
626 NE 17th Way, Fort Lauderdale, FL 33304
Duplex in Victoria Park with shared outdoor space and flexibility for long-term tenants or short-term guests.
Property Size2,016 SF
Days on Market66
Property Features for 626 NE 17th Way
General Information
Standard status
Pending
Size
2,016 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
RC-15
Taxes and HOA fees
Annual Taxes
$16,407
Amenities
shared backyard area
Building Details
Building Size
2,016 SF
Year Built
1951
Stories
1
Listing Agency:
Florida Realty of Miami Corp
Listed By:
Monika M Folker · License #3342648
(954) 504-5170
Source:
Laerrealty
Added: Jul 5
Changed: Sep 2
Last Checked: Aug 30 at 8:00PM
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 Florida Realty of Miami Corp
Investment Insights
Based on property information with market context.
This renovated duplex at 626 NE 17th Way offers a two-unit residential income property in Fort Lauderdale’s Victoria Park neighborhood. The property was built in 1951 and includes access to a shared backyard area. The layout and improvements support continued use as a rental property, with the source information identifying potential for both long-term tenants and short-term guests.
The sale is structured together with the neighboring duplex at 630-632 NE 17th Way, creating a combined offering across the adjacent properties. The location places the duplex near Fort Lauderdale attractions, with the address identified as 626 NE 17th Way, Fort Lauderdale, FL 33304. Zoning is RC-15.
The sale is structured together with the neighboring duplex at 630-632 NE 17th Way, creating a combined offering across the adjacent properties. The location places the duplex near Fort Lauderdale attractions, with the address identified as 626 NE 17th Way, Fort Lauderdale, FL 33304. Zoning is RC-15.
Key Highlights
- Renovated duplex in Fort Lauderdale’s Victoria Park neighborhood
- Offered together with 630‑632 NE 17th Way
- Shared backyard area serves the property and neighboring duplex
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
$33,606
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
3.54%
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%
$672,120
$672.1K
Cap Rate 7%
$480,086
$480.1K
Cap Rate 9%
$373,400
$373.4K
Market Conditions
NOI Build-Up for 2,016 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
$50.8K $25.20/SF
− Vacancy
−$2.8K −$1.39/SF
EGI
$48.0K $23.81/SF
− OpEx
−$14.4K −$7.14/SF
NOI
$33.6K $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%
$672,120
Cap Rate 7%
$480,086
Cap Rate 9%
$373,400
Alternative Uses
Best Use
Multifamily LT 5
$480.1K
$420.1K – $560.1K
NOI $33,606 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$432.5K
$378.4K – $504.6K
NOI $30,273 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$1.35M
$1.19M – $1.58M
NOI $94,833 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,489
Businesses Nearby
Explore this area
Business Placement
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
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?
Duplex - Duplex in Victoria Park with shared outdoor space and flexibility for long-term tenants or short-term guests.
Where is this duplex located?
The property is located at 626 NE 17th Way Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Renovated duplex in Fort Lauderdale’s Victoria Park neighborhood; Offered together with 630‑632 NE 17th Way; Shared backyard area serves the property and neighboring duplex
