Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    999 Prospect Rd Oakland Park, FL 33309

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    48-unit multifamily property with value-add potential in Oakland Park.

    Property Features for 999 Prospect Rd

    General Information

    Standard status
    Active

    Building Details

    Year built
    1973

    We can help!

    Listing Contact
    Calum Weaver
    Source: Crexi

    Listing Agency: CBRE - Fort Lauderdale Listing Agent: Calum Weaver

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Oakland Park Multifamily Investment

    This multifamily property in Oakland Park, Florida, features 48 units. Each unit contains two bedrooms. The property presents a value-add opportunity.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oakland Park
    County
    Broward
    State
    Florida
    Longitude
    -80.1561287
    Latitude
    26.1816256

    Nearby Similar for Sale

    • $525,000
      1,095 SF

      Oakland Park Mixed-Use Property

      High-visibility corner lot suitable for medical, office, or professional services.
      401 E Oakland Park Blvd, Oakland Park, FL 33334
      View Details
    • $400,000

      Turnkey Office Condominium Near I-95

      Fully furnished office condo in Oakland Park, move-in ready.
      1640 W Oakland Park Blvd, Oakland Park, FL 33311
      View Details
    • $679,000

      Remodeled Commercial Property on Commercial Blvd

      Remodeled commercial property on busy Commercial Blvd in Oakland Park.
      481 E Commercial Blvd, Oakland Park, FL 33334
      View Details
    • $724,950
      1,914 SF

      Oakland Park Duplex Investment Opportunity

      Well-maintained duplex in Oakland Park, close to amenities and transportation.
      1632 NE 33Rd St, Oakland Park, FL 33334
      View Details
    • $1,500,000

      Oakland Park Freestanding Office Building

      Freestanding office building in Oakland Park's busy business district.
      400 NE 44Th St, Oakland Park, FL 33334
      View Details
    • $735,000
      1,478 SF

      Income-Producing Duplex in Oakland Park

      Duplex with tenant-occupied units near beaches, shopping, and dining.
      3431-3441 NE 13Th Ave, Oakland Park, FL 33334
      View Details
    • $949,900
      1,984 SF

      Turnkey Duplex in Oakland Park

      Income-producing duplex near culinary district and beach.
      1680 NE 34Th Ln, Oakland Park, FL 33334
      View Details
    • $550,000
      1,441 SF

      Oakland Park Duplex Opportunity

      Well-maintained duplex with updated units and convenient location.
      4331 NE 5Th Ave, Oakland Park, FL 33334
      View Details
    • $999,999
      3,156 SF

      Oakland Park Multi-Family Development

      Multi-family and single-family development opportunity in Oakland Park, Florida.
      1338 NE 35Th St, Oakland Park, FL 33334
      View Details
    • $617,000
      1,472 SF

      Oakland Park Duplex with Pool

      Duplex with pool on a large lot in Oakland Park.
      902 NE 34Th St, Oakland Park, FL 33334
      View Details
    • $675,000
      1,328 SF

      Oakland Park Duplex For Sale

      Two-unit duplex near Wilton Manors with month-to-month tenants.
      659 NE 32Nd St, Oakland Park, FL 33334
      View Details
    • $995,000
      3,102 SF

      Renovated Fourplex in Oakland Park

      Turn-key, income-producing fourplex near Wilton Manors and Fort Lauderdale.
      210 NE 40Th St, Oakland Park, FL 33334
      View Details

    FAQs

    What type of property is this?
    Apartment building - 48-unit multifamily property with value-add potential in Oakland Park.
    Where is this apartment building located?
    The property is located at 999 Prospect Rd Oakland Park, FL.
    What are key features of this property?
    This property features: - 48 Units: Provides immediate scale and significant investment potential.; - All 2BR Units: Highly desirable unit mix appealing to a broad tenant base.; - Value-Add Upside: Opportunity to increase revenue through strategic improvements.
    Request Owner's contact information
    999 Prospect Rd Oakland Park, FL 33309
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    999 Prospect Rd
    Oakland Park, FL 33309
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    999 Prospect Rd Oakland Park, FL 33309
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Calum Weaver
    Real Estate License ID: 3057668
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!