Updated Multifamily Income
For Sale
Contact for pricing
911 NW 12th Avenue # 2 #1-2, Fort Lauderdale, FL 33311
Well-maintained, updated multifamily building with in-place tenants, located just off Sunrise Blvd in a stable neighborhood.
Property Size1,071 SF
Price / SF$382.82
Days on Market233
Property Features for 911 NW 12th Avenue # 2 #1-2
General Information
Standard status
Active
Size
1,071 SF
Property subtype
Multifamily
Zoning
RMM-25
Building Details
Year Built
1953
Units
2
Listing Agency:
Dynasty Realty Group Inc
(954) 776-4175
Listed By:
Robert Piccolo · License #FL
Source:
Crexi
Added: Dec 29, 2025
Changed: Aug 8
Last Checked: Aug 18 at 4:41AM
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 Dynasty Realty Group Inc
Investment Insights
Based on property information with market context.
This for-sale multifamily income property is described as being in very good condition and “all updated.” The offering includes a residential multifamily building designed to generate rental income with existing tenants in place. The public remarks indicate the property has received updates, supporting a turnkey feel for a buyer who wants a maintained asset rather than a deferred-maintenance project.
The property is located just off Sunrise Blvd in a nice, working neighborhood. That setting is reflected in the remarks as stable and tenant-occupied, with the building referenced as having excellent tenants. While the exact street frontage and specific access details are not provided, the location positioning “just off” a major boulevard typically supports convenient day-to-day travel for residents.
For buyers or owner-operators looking at residential income properties, the combination of a well-kept building and updated condition can simplify near-term planning. With tenants already in place, the property may suit an investor seeking an income-producing multifamily asset without requiring immediate comprehensive renovations, subject to standard due diligence on existing leases and physical condition.
The property is located just off Sunrise Blvd in a nice, working neighborhood. That setting is reflected in the remarks as stable and tenant-occupied, with the building referenced as having excellent tenants. While the exact street frontage and specific access details are not provided, the location positioning “just off” a major boulevard typically supports convenient day-to-day travel for residents.
For buyers or owner-operators looking at residential income properties, the combination of a well-kept building and updated condition can simplify near-term planning. With tenants already in place, the property may suit an investor seeking an income-producing multifamily asset without requiring immediate comprehensive renovations, subject to standard due diligence on existing leases and physical condition.
Key Highlights
- Multifamily building built in 1953
- Well‑maintained building in very good condition
- Updated multifamily property
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
$16,082
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
3.92%
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%
$321,640
$321.6K
Cap Rate 7%
$229,743
$229.7K
Cap Rate 9%
$178,689
$178.7K
Market Conditions
NOI Build-Up for 1,071 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
$30.8K $28.80/SF
− Vacancy
−$1.6K −$1.50/SF
EGI
$29.2K $27.30/SF
− OpEx
−$13.2K −$12.29/SF
NOI
$16.1K $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%
$321,640
Cap Rate 7%
$229,743
Cap Rate 9%
$178,689
Alternative Uses
Best Use
Apartment 5plus
$229.7K
$201.0K – $268.0K
NOI $16,082 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$719.7K
$629.8K – $839.7K
NOI $50,380 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,268
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?
Multifamily property - Well-maintained, updated multifamily building with in-place tenants, located just off Sunrise Blvd in a stable neighborhood.
Where is this multifamily property located?
The property is located at 911 NW 12th Avenue # 2 #1-2 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Multifamily building built in 1953; Well‑maintained building in very good condition; Updated multifamily property
