Three-Unit Triplex with Updated
For Sale
Contact for pricing
715 NW 15TH Terrace # 3 #1-3, Fort Lauderdale, FL 33311
Three tenant-occupied units offer matching layouts, private patios, and individual laundry.
Property Size1,853 SF
Price / SF$326.50
Days on Market103
Property Features for 715 NW 15TH Terrace # 3 #1-3
General Information
Standard status
Active
Size
1,853 SF
Property subtype
Multifamily
Zoning
RC-15
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Amenities
patio areas
washer/dryer
Building Details
Year Built
1961
Units
3
Tenancy
Multi
Listing Agency:
Brookfield Executive Real Esta
(954) 429-5649
Listed By:
Devin Ruiz · License #3318029
Source:
Crexi
Added: May 22
Changed: Aug 31
Last Checked: Aug 31 at 4:38AM
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 Brookfield Executive Real Esta
Investment Insights
Based on property information with market context.
This Fort Lauderdale triplex includes three tenant-occupied two-bedroom, one-bath units, each with a living area, kitchen, bedrooms, and bathroom. All three residences share the same floor plan, creating a consistent configuration across the property. Each unit also includes a patio area and washer-dryer setup, while the bathrooms have been newly remodeled.
Located at 715 NW 15th Terrace, the property carries RC-15 zoning and was built in 1961. The roof was replaced in 2026. With all three units occupied and the residences arranged with matching layouts, the asset offers a straightforward multifamily configuration for ownership and management.
Located at 715 NW 15th Terrace, the property carries RC-15 zoning and was built in 1961. The roof was replaced in 2026. With all three units occupied and the residences arranged with matching layouts, the asset offers a straightforward multifamily configuration for ownership and management.
Key Highlights
- Three tenant‑occupied 2‑bedroom, 1‑bath units
- Matching floor plans across all three units
- Patio area and washer‑dryer setup for each unit
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
$30,889
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
5.11%
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%
$617,780
$617.8K
Cap Rate 7%
$441,271
$441.3K
Cap Rate 9%
$343,211
$343.2K
Market Conditions
NOI Build-Up for 1,853 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
$46.7K $25.20/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$44.1K $23.81/SF
− OpEx
−$13.2K −$7.14/SF
NOI
$30.9K $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%
$617,780
Cap Rate 7%
$441,271
Cap Rate 9%
$343,211
Alternative Uses
Best Use
Multifamily LT 5
$441.3K
$386.1K – $514.8K
NOI $30,889 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$397.5K
$347.8K – $463.8K
NOI $27,825 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,165 @ 7.0% cap · market cap 14.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,903
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 - Three tenant-occupied units offer matching layouts, private patios, and individual laundry.
Where is this triplex located?
The property is located at 715 NW 15TH Terrace # 3 #1-3 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $605,000.
What are key features of this property?
This property features: Three tenant‑occupied 2‑bedroom, 1‑bath units; Matching floor plans across all three units; Patio area and washer‑dryer setup for each unit
