Two-Property Duplex
For Sale
$1,485,000
923 W Las Olas Boulevard, Fort Lauderdale, FL 33312
Residential Income, Fort Lauderdale, FL
Property Size3,212 SF
Lot Size0.30 Acres
Price / SF$462.33
Days on Market48
Property Features for 923 W Las Olas Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RML-25
Bedrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 4, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 3, Bedroom 2, Bathroom 2
Patio and Porch features
Patio, Porch
Pets allowed
Yes, Call
Exterior features
Courtyard, Garden
Subdivision
WAVERLY PLACE
Elementary school
North Fork
Middle school
New River
High school
Stranahan
Standard status
Active
APN
504209091430
Size
3,212 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WAVERLY PLACE 2-19 D LOTS 11,12 & S1/2 VAC ALLEY LYING N OF SAID LOTS BLK 113
Tax Annual Amount
12145
Legal Description
WAVERLY PLACE 2-19 D LOTS 11,12 & S1/2 VAC ALLEY LYING N OF SAID LOTS BLK 113
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1972
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
CBS
Roof type
Composition, Shingle
Listing Agency:
Compass Florida LLC
(531) 440-4862
Listed By:
Dominic Posocco · License #3441361
(610) 295-9127
Added: Jul 23
Changed: Sep 8
Last Checked: Sep 8 at 5:06PM
MLS# B26056173
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering combines two duplex properties at 923 and 925 W Las Olas Boulevard. The improvements total 3,212 square feet across 0.3 acres and were built in 1972 using CBS construction. Interior and exterior features include tile flooring, central heating and cooling, courtyards, gardens, porches, and patios.
The parcels are zoned RML-25 and include public water and public sewer service. A redevelopment plan set has been approved for the combined properties, adding an additional development path alongside the existing duplex configuration. The assets are located on Las Olas Boulevard in Fort Lauderdale’s Sailboat Bend area.
The parcels are zoned RML-25 and include public water and public sewer service. A redevelopment plan set has been approved for the combined properties, adding an additional development path alongside the existing duplex configuration. The assets are located on Las Olas Boulevard in Fort Lauderdale’s Sailboat Bend area.
Key Highlights
- Two duplex properties offered together at 923 and 925 W Las Olas Boulevard
- 3,212 square feet of improvements on 0.3 acres
- RML‑25 zoning with approved redevelopment plans
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
$53,543
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
3.61%
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%
$1,070,860
$1.1M
Cap Rate 7%
$764,900
$764.9K
Cap Rate 9%
$594,922
$594.9K
Market Conditions
NOI Build-Up for 3,212 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
$80.9K $25.20/SF
− Vacancy
−$4.5K −$1.39/SF
EGI
$76.5K $23.81/SF
− OpEx
−$22.9K −$7.14/SF
NOI
$53.5K $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%
$1,070,860
Cap Rate 7%
$764,900
Cap Rate 9%
$594,922
Alternative Uses
Best Use
Multifamily LT 5
$764.9K
$669.3K – $892.4K
NOI $53,543 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$689.0K
$602.9K – $803.9K
NOI $48,232 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,092 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,010
Businesses Nearby
Explore this area
Business Placement
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
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 - Paired multifamily assets with approved redevelopment plans and established residential improvements.
Where is this duplex located?
The property is located at 923 W Las Olas Boulevard Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,485,000.
What are key features of this property?
This property features: Two duplex properties offered together at 923 and 925 W Las Olas Boulevard; 3,212 square feet of improvements on 0.3 acres; RML‑25 zoning with approved redevelopment plans
