One-Story Triplex
For Sale
$725,000
805 NE 40th St 1-3, Oakland Park, FL 33334
One-story Oakland Park triplex with practical layout and flexible ownership structure across three units.
Property Size1,590 SF
Price / SF$455.97
Days on Market56
Property Features for 805 NE 40th St 1-3
General Information
Standard status
Active
Size
1,590 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,287
Building Details
Building Size
1,590 SF
Year Built
1959
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
(954) 258-1435
Listed By:
Brian J McCarthy · License #3213610
(954) 258-1435
Source:
Elliman
Added: Jun 22
Changed: Aug 14
Last Checked: Aug 16 at 7:11AM
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 Brian J McCarthy
Investment Insights
Based on property information with market context.
This one-story triplex is configured as a three-unit residential income property with finished living space and solid construction. The triplex format offers flexibility for ownership and rental strategies, making it a straightforward fit for buyers looking for a small multifamily structure rather than a single home.
Located in Oakland Park, the property is positioned for convenient access to the community’s amenities and services. The surrounding area supports everyday errands with a very walkable score and very bikeable conditions, with some transit availability indicated by the transit score.
For tenant-facing operations, the unit configuration within a single one-story building can simplify day-to-day management compared with larger, multi-building setups. For owner-operators and investors, the three-unit structure provides the diversification benefits typical of a multifamily property while maintaining a compact, manageable footprint.
Located in Oakland Park, the property is positioned for convenient access to the community’s amenities and services. The surrounding area supports everyday errands with a very walkable score and very bikeable conditions, with some transit availability indicated by the transit score.
For tenant-facing operations, the unit configuration within a single one-story building can simplify day-to-day management compared with larger, multi-building setups. For owner-operators and investors, the three-unit structure provides the diversification benefits typical of a multifamily property while maintaining a compact, manageable footprint.
Key Highlights
- One‑story triplex in Oakland Park, FL, built in 1959
- 1,590 sq ft of finished living space
- Triplex structure with three units for rental or ownership flexibility
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
$26,505
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
3.66%
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%
$530,100
$530.1K
Cap Rate 7%
$378,643
$378.6K
Cap Rate 9%
$294,500
$294.5K
Market Conditions
NOI Build-Up for 1,590 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
$40.1K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$37.9K $23.81/SF
− OpEx
−$11.4K −$7.14/SF
NOI
$26.5K $16.67/SF
Area
Broward County, 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%
$530,100
Cap Rate 7%
$378,643
Cap Rate 9%
$294,500
Alternative Uses
Best Use
Multifamily LT 5
$378.6K
$331.3K – $441.8K
NOI $26,505 @ 7.0% cap · market cap 3.66%
Second Best
Apartment 5plus
$349.3K
$305.7K – $407.6K
NOI $24,453 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$806.7K
$705.8K – $941.1K
NOI $56,467 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,719
Businesses Nearby
Explore this area
Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
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 - One-story Oakland Park triplex with practical layout and flexible ownership structure across three units.
Where is this triplex located?
The property is located at 805 NE 40th St 1-3 Oakland Park, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: One‑story triplex in Oakland Park, FL, built in 1959; 1,590 sq ft of finished living space; Triplex structure with three units for rental or ownership flexibility
