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    15 16Th St Fort Lauderdale, FL 33304

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    15 16Th St Fort Lauderdale, FL 33304

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    • Small apartment buildings
    Off-Market
    Property ID
    US18-8481876
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 15 16Th St

    Year built
    1967
    Property type
    Small apartment buildings

    Description

    This fully renovated duplex in Fort Lauderdale, Florida, presents a compelling investment opportunity. Located at 15 NE 16th Street, in Broward County, zip code 33304, this single-story, 1967-built property offers two spacious units. Unit one boasts two bedrooms and two bathrooms, while unit two features two bedrooms and one bathroom. Both units are furnished and include in-unit laundry facilities and central air conditioning. Four parking spaces are available, providing ample accommodation for residents and guests. Each unit enjoys a private patio and benefits from attractive landscaping, creating a tranquil outdoor space. Individual water meters are installed for each unit, enhancing efficiency and cost management. Recent improvements include a new roof, hurricane straps, and impact-resistant windows, ensuring both durability and peace of mind. The property's convenient location near Wilton Manors and a short 10-minute drive from Las Olas Boulevard and shopping centers adds to its appeal. The ample front parking further enhances the property's desirability. This turnkey investment is ready for immediate income generation. The property's strong features and desirable location make it an exceptional opportunity for investors seeking a high-return asset in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1177335
    Latitude
    26.1351973

    Comparable in this City

    • $1,750,000

      Income Property Near Wilton Manors

      Eight-unit property with renovation and income potential near Wilton Manors.
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      Entitled Hotel/Condo Development Opportunity

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    • $2,249,000
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      Fort Lauderdale Multifamily Investment Property

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      Victoria Park Multifamily Investment Opportunity

      Six-unit property with development potential in Victoria Park.
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      Multifamily Assemblage in Flagler Village

      15-unit multifamily property in Fort Lauderdale's thriving Flagler Village.
      735 5Th Ave, Fort Lauderdale, FL 33304
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    Similar Nearby for Sale

    • $1,750,000

      Income Property Near Wilton Manors

      Eight-unit property with renovation and income potential near Wilton Manors.
      1124 NE 5Th Ave, Fort Lauderdale, FL 33304
      View Details
    • Contact for pricing

      Entitled Hotel/Condo Development Opportunity

      Shovel-ready 1.51 AC site for hotel or condo development.
      3016 Bayshore Dr, Fort Lauderdale, FL 33304
      View Details
    • $2,249,000
      0.15 Acres

      Fort Lauderdale Multifamily Investment Property

      Legal 5-unit multifamily, fully renovated, turnkey short-term rental investment.
      1730 NE 7Th St, Fort Lauderdale, FL 33304
      View Details
    • $919,990
      1,560 SF

      Victoria Park Multifamily Investment Opportunity

      Six-unit property with development potential in Victoria Park.
      908 Northeast 17Th Ter, Fort Lauderdale, FL 33304
      View Details
    • $4,644,787

      Multifamily Assemblage in Flagler Village

      15-unit multifamily property in Fort Lauderdale's thriving Flagler Village.
      735 5Th Ave, Fort Lauderdale, FL 33304
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    Similar Nearby for Lease

    • Contact for pricing
      2,743 SF

      Apartment Building with Parking Garage

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      Fort Lauderdale Apartment in Fourplex

      One bedroom, one bathroom apartment in East Fort Lauderdale.
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      View Details
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    Fort Lauderdale, FL 33304
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    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
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