Multifamily Apartment Building with Impact
For Sale
Contact for pricing
812 NE 15 Avenue, Fort Lauderdale, FL 33304
Five-unit property with impact windows, patios, and on-site laundry, positioned for owner-occupant use or redevelopment.
Property Size2,547 SF
Price / SF$392.58
Days on Market178
Property Features for 812 NE 15 Avenue
General Information
Standard status
Active
Size
2,547 SF
Property subtype
Multifamily
Building Details
Year Built
1971
Listing Agency:
Campbell & Rosemurgy R E 2
Listed By:
Patricia Karlin · License #0497372
Source:
Crexi
Added: Feb 10
Changed: Jul 10
Last Checked: Aug 7 at 2:19AM
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 Campbell & Rosemurgy R E 2
Investment Insights
Based on property information with market context.
This 5-unit multifamily property features two separate buildings on one lot. The west building contains two-bedroom/one-bath and one-bedroom/one-bath units. The east building includes two large efficiency units and a studio that is currently vacant; the studio has a kitchenette, as well as a bathroom with a shower. Several patios are available for resident use, and a washer and dryer are located on the premises. All units have impact windows, and the property is served by five electric meters.
The buildings are located in Victoria Park at 812 NE 15 Avenue in Fort Lauderdale, Florida. Vehicle and access details are not provided in the information available. The property sits on a 50 by 135 lot, and a survey is noted as attached.
This offering can fit an owner-occupant who wants rental income while living on-site, or it may appeal to buyers evaluating a rebuild or redevelopment plan. With all leases scheduled to end 12/31/26, the current operating schedule is defined. The presence of a vacant studio also provides an immediate unit status difference for prospective operators.
The buildings are located in Victoria Park at 812 NE 15 Avenue in Fort Lauderdale, Florida. Vehicle and access details are not provided in the information available. The property sits on a 50 by 135 lot, and a survey is noted as attached.
This offering can fit an owner-occupant who wants rental income while living on-site, or it may appeal to buyers evaluating a rebuild or redevelopment plan. With all leases scheduled to end 12/31/26, the current operating schedule is defined. The presence of a vacant studio also provides an immediate unit status difference for prospective operators.
Key Highlights
- 5‑unit property built in 1971 in Victoria Park
- Unit mix: west building has 2BR/1BA and 1BR/1BA; east building has two large efficiencies and one studio with kitchenette, bathroom, and shower (vacant)
- All units have impact windows
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
$38,247
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
3.83%
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%
$764,940
$764.9K
Cap Rate 7%
$546,386
$546.4K
Cap Rate 9%
$424,967
$425.0K
Market Conditions
NOI Build-Up for 2,547 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
$73.4K $28.80/SF
− Vacancy
−$3.8K −$1.50/SF
EGI
$69.5K $27.30/SF
− OpEx
−$31.3K −$12.29/SF
NOI
$38.2K $15.02/SF
Area
Fort Lauderdale, FL
Vacancy
5.20%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$764,940
Cap Rate 7%
$546,386
Cap Rate 9%
$424,967
Alternative Uses
Best Use
Apartment 5plus
$546.4K
$478.1K – $637.5K
NOI $38,247 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,811 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,763
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?
Apartment building - Five-unit property with impact windows, patios, and on-site laundry, positioned for owner-occupant use or redevelopment.
Where is this apartment building located?
The property is located at 812 NE 15 Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: 5‑unit property built in 1971 in Victoria Park; Unit mix: west building has 2BR/1BA and 1BR/1BA; east building has two large efficiencies and one studio with kitchenette, bathroom, and shower (vacant); All units have impact windows
