Renovated Two-Unit
For Sale
Contact for pricing
721 NW 19th Terrace # 2 #1-2, Fort Lauderdale, FL 33311
Both residences offer two bedrooms and one bathroom.
Property Size1,273 SF
Price / SF$459.54
Days on Market9
Property Features for 721 NW 19th Terrace # 2 #1-2
General Information
Standard status
Active
Size
1,273 SF
Property subtype
Multifamily
Zoning
RM-15
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1970
Units
2
Listing Agency:
Saltwater Realty
Listed By:
Alyse Lemstrom · License #3442730
(239) 850-2735
Source:
Crexi
Added: Aug 26
Changed: Sep 2
Last Checked: Sep 2 at 2:02PM
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 Saltwater Realty
Investment Insights
Based on property information with market context.
This renovated duplex contains two separate residences, each with a two-bedroom, one-bathroom layout. The property measures 1,273 square feet and was built in 1970. Separate electric meters serve the units, while water is measured through one shared meter.
Located at 721 NW 19th Terrace in Fort Lauderdale, the property carries RM-15 zoning. The unit configuration and utility-meter setup provide a clearly defined physical profile for review by prospective purchasers.
Located at 721 NW 19th Terrace in Fort Lauderdale, the property carries RM-15 zoning. The unit configuration and utility-meter setup provide a clearly defined physical profile for review by prospective purchasers.
Key Highlights
- Two residences, each with two bedrooms and one bathroom
- 1,273 square feet of property size
- Separate electric meters for the units
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
$21,221
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
3.63%
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%
$424,420
$424.4K
Cap Rate 7%
$303,157
$303.2K
Cap Rate 9%
$235,789
$235.8K
Market Conditions
NOI Build-Up for 1,273 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
$32.1K $25.20/SF
− Vacancy
−$1.8K −$1.39/SF
EGI
$30.3K $23.81/SF
− OpEx
−$9.1K −$7.14/SF
NOI
$21.2K $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%
$424,420
Cap Rate 7%
$303,157
Cap Rate 9%
$235,789
Alternative Uses
Best Use
Multifamily LT 5
$303.2K
$265.3K – $353.7K
NOI $21,221 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$273.1K
$239.0K – $318.6K
NOI $19,116 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$855.5K
$748.5K – $998.0K
NOI $59,882 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,925
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?
Duplex - Both residences offer two bedrooms and one bathroom.
Where is this duplex located?
The property is located at 721 NW 19th Terrace # 2 #1-2 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two residences, each with two bedrooms and one bathroom; 1,273 square feet of property size; Separate electric meters for the units
