Duplex with RMM-25
For Sale
$450,000
634 Nw 12th Ave, Fort Lauderdale, FL 33304
Existing two-unit property with multifamily zoning and a sizable rear lot area.
Property Size960 SF
Price / SF$468.75
Days on Market190
Property Features for 634 Nw 12th Ave
General Information
Standard status
Active
Size
960 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$6,168
Listing Agency:
Tribeca Development LLC
(646) 261-1803
Listed By:
Nyron Chinsang
(646) 261-1803
Source:
Exprealty
Added: Feb 21
Changed: Aug 29
Last Checked: Aug 29 at 4:08PM
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 Tribeca Development LLC
Investment Insights
Based on property information with market context.
This duplex contains 960 square feet on a 6,750-square-foot lot measuring 50 feet by 135 feet. The existing structure occupies approximately 60% of the improved lot, leaving substantial site area behind the building. RMM-25 zoning identifies the property for Residential Multi-Family Mid-Rise use, with source materials indicating density may reach 25 units per acre, subject to applicable approvals and verification.
The property is located at 634 NW 12th Ave in Fort Lauderdale and carries an 82/100 Walk Score. Downtown Fort Lauderdale, the Brightline Station, and the Sistrunk corridor are identified as nearby destinations. Stated RMM-25 parameters include a 25-foot front setback, 15-foot rear setback, 5-foot side setback, and building height up to 22 feet. Buyers should independently confirm zoning, land use, setbacks, and development feasibility with the City of Fort Lauderdale.
The property is located at 634 NW 12th Ave in Fort Lauderdale and carries an 82/100 Walk Score. Downtown Fort Lauderdale, the Brightline Station, and the Sistrunk corridor are identified as nearby destinations. Stated RMM-25 parameters include a 25-foot front setback, 15-foot rear setback, 5-foot side setback, and building height up to 22 feet. Buyers should independently confirm zoning, land use, setbacks, and development feasibility with the City of Fort Lauderdale.
Key Highlights
- Duplex with 960 square feet on a 6,750‑square‑foot lot
- 50' x 135' lot with the current structure occupying 60% of the improved lot
- RMM‑25 Residential Multi‑Family Mid‑Rise 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
$16,003
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
3.56%
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%
$320,060
$320.1K
Cap Rate 7%
$228,614
$228.6K
Cap Rate 9%
$177,811
$177.8K
Market Conditions
NOI Build-Up for 960 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
$24.2K $25.20/SF
− Vacancy
−$1.3K −$1.39/SF
EGI
$22.9K $23.81/SF
− OpEx
−$6.9K −$7.14/SF
NOI
$16.0K $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%
$320,060
Cap Rate 7%
$228,614
Cap Rate 9%
$177,811
Alternative Uses
Best Use
Multifamily LT 5
$228.6K
$200.0K – $266.7K
NOI $16,003 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$205.9K
$180.2K – $240.3K
NOI $14,416 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$645.1K
$564.5K – $752.6K
NOI $45,158 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,418
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 - Existing two-unit property with multifamily zoning and a sizable rear lot area.
Where is this duplex located?
The property is located at 634 Nw 12th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Duplex with 960 square feet on a 6,750‑square‑foot lot; 50' x 135' lot with the current structure occupying 60% of the improved lot; RMM‑25 Residential Multi‑Family Mid‑Rise zoning
