New Fort Lauderdale
For Sale
Contact for pricing
Pending
400 SE 22nd St, Fort Lauderdale, FL 33316
Four new townhomes perfect for Airbnb or assisted living.
Property Size9,600 SF
Days on Market1117
Property Features for 400 SE 22nd St
General Information
Standard status
Pending
Size
9,600 SF
Class
A
Property subtype
Multifamily
Zoning
RMM-25
Investment Type
Owner/User
Building Details
Year Built
2023
Buildings
1
Stories
2
Units
4
Listing Agency:
Flagler Duval Real Estate
(305) 371-3592
Listed By:
George Coloney · License #0696185
Source:
Crexi
Added: Aug 3, 2023
Changed: Aug 15
Last Checked: Aug 22 at 7:28AM
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 Flagler Duval Real Estate
Investment Insights
Based on property information with market context.
Four new townhomes are available in east Fort Lauderdale, situated less than 10 minutes from the beach and 5 minutes from downtown and Fort Lauderdale-Hollywood International Airport. These properties are suitable for Airbnb or leasing to a single client for assisted living or sober living. Each unit features a modern design with open floorplans, 3 bedrooms, 2.5 baths, and 2-car garages. The interiors include wood and tile floors, stainless steel appliances, and glass shower enclosures. The property size is 9600 square feet.
Key Highlights
- New construction townhomes in east Fort Lauderdale
- Close proximity to beach, downtown, and airport
- Potential for Airbnb or leasing for assisted/sober living
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
$144,157
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
5.57%
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%
$2,883,140
$2.9M
Cap Rate 7%
$2,059,386
$2.1M
Cap Rate 9%
$1,601,744
$1.6M
Market Conditions
NOI Build-Up for 9,600 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
$276.5K $28.80/SF
− Vacancy
−$14.4K −$1.50/SF
EGI
$262.1K $27.30/SF
− OpEx
−$117.9K −$12.29/SF
NOI
$144.2K $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%
$2,883,140
Cap Rate 7%
$2,059,386
Cap Rate 9%
$1,601,744
Alternative Uses
Best Use
Apartment 5plus
$2.06M
$1.80M – $2.40M
NOI $144,157 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.45M
$5.64M – $7.53M
NOI $451,584 @ 7.0% cap · market cap 17.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,620
Businesses Nearby
Explore this area
Business Placement
Demographics for 33316, FL
12,669
Population
8,946
Households
1.4
Avg Household Size
50
Median Age
54%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
3,090
Density / Sq Mi
$89,200
Median Household Income
$52,992
Median Earnings
$2,047
Median Rent
$793,500
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?
Short term rental property - Four new townhomes perfect for Airbnb or assisted living.
Where is this short term rental property located?
The property is located at 400 SE 22nd St Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,590,000.
What are key features of this property?
This property features: New construction townhomes in east Fort Lauderdale; Close proximity to beach, downtown, and airport; Potential for Airbnb or leasing for assisted/sober living
