Renovated Duplex Near
For Sale
Contact for pricing
1236 NE 16th Ave, Fort Lauderdale, FL 33304
Fully renovated, furnished duplex near the beach and dining.
Property Size1,353 SF
Price / SF$583.15
Days on Market666
Property Features for 1236 NE 16th Ave
General Information
Standard status
Active
Size
1,353 SF
Total Parking Spaces
5
Property subtype
Multifamily
Zoning
RC-15
Building Details
Year Built
1959
Units
2
Listing Agency:
The Real Estate Club LLC
Listed By:
nissan shukrie · License #3266235
Source:
Crexi
Added: Nov 12, 2024
Changed: Sep 3
Last Checked: Sep 8 at 8:14AM
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 The Real Estate Club LLC
Investment Insights
Based on property information with market context.
This is a fully renovated and furnished duplex property. The property size is 1353 square feet. It is located minutes from the beach and dining spots. The backyard includes privacy-enhancing greenery, artificial grass, and 2 pavilions. The property is suitable as a retreat, an income-generating rental, or a blend of both.
Key Highlights
- Prime location, minutes from the beach and dining.
- Fully renovated and furnished duplex.**
- Versatile property: ideal for personal residence, rental income, or both.
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
$22,554
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
2.86%
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%
$451,080
$451.1K
Cap Rate 7%
$322,200
$322.2K
Cap Rate 9%
$250,600
$250.6K
Market Conditions
NOI Build-Up for 1,353 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
$34.1K $25.20/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$32.2K $23.81/SF
− OpEx
−$9.7K −$7.14/SF
NOI
$22.6K $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%
$451,080
Cap Rate 7%
$322,200
Cap Rate 9%
$250,600
Alternative Uses
Best Use
Multifamily LT 5
$322.2K
$281.9K – $375.9K
NOI $22,554 @ 7.0% cap · market cap 2.86%
Second Best
Apartment 5plus
$290.2K
$254.0K – $338.6K
NOI $20,317 @ 7.0% cap · market cap 2.58%
Theoretical Best
Office A
$909.2K
$795.6K – $1.06M
NOI $63,645 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,646
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?
Duplex - Fully renovated, furnished duplex near the beach and dining.
Where is this duplex located?
The property is located at 1236 NE 16th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Prime location, minutes from the beach and dining.; Fully renovated and furnished duplex.**; Versatile property: ideal for personal residence, rental income, or both.
