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    635 NW 22Nd Rd Fort Lauderdale, FL 33311

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    635 NW 22Nd Rd Fort Lauderdale, FL 33311

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    • Retail residential properties
    • 1,810 SF
    • 0.09 lot acres
    For Sale
    $640,000
    View Listing →
    Fort Lauderdale Fourplex Investment Property For Sale
    $640,000
    1,810 SF

    Fort Lauderdale Fourplex Investment Property

    Turnkey four-unit multifamily property in Fort Lauderdale's rental market.

    635 NW 22nd Rd, Fort Lauderdale, FL 33311
    View Listing
    Property ID
    US18-9040486
    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
    4.7%
    Retail residential properties
    Location Intelligence

    Current Use by Public Records

    • Retail residential properties

    Property Details for 635 NW 22Nd Rd

    Year built
    1967
    Construction
    CONCRETE
    Lot size
    0.09 lot acres
    Property size
    1,810 SF
    Zone code
    CB
    Property type
    Retail residential properties
    APN
    50-42-05-01-0540
    APU
    504205010540

    Description

    This exceptional fourplex, located at 635 NW 22nd Rd, Fort Lauderdale, FL 33311, presents a compelling investment opportunity. Built in 1967, this single-story building boasts recently installed impact windows and a brand-new roof, ensuring long-term durability and reduced maintenance costs. The property features fully remodeled interiors across all four units, providing immediate rental income. Currently operating at 100% occupancy, the fourplex generates a substantial annual cash flow of $58,000, translating to a 7.7% capitalization rate. Situated within a designated Opportunity Zone in Fort Lauderdale, this property benefits from significant surrounding development and growth potential. The strategic location in Broward County offers investors a chance to capitalize on the area's revitalization and increasing property values. This is an ideal asset for investors seeking a strong, cash-flowing investment in a rapidly developing area, offering both immediate returns and long-term appreciation potential. The property's solid construction, updated features, and prime location combine to create a truly attractive investment opportunity. Don't miss this chance to acquire a high-yield multifamily property in a thriving Florida market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $595,000
      ML approach
      $595,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $465,000
      6.5%
      $425,000
      7%
      $395,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $595,000
      Market price range: $253k - $595k
      AI Estimate
      $581,000
      Market price range: $177k - $581k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $485,000
      Current use
      MEDICAL BUILDING
      $845,000
      Change: +74% Conversion: Easy
      RETAIL STORES
      $455,000
      Change: -6% Conversion: Easy
      OFFICE BUILDING
      $450,000
      Change: -7% Conversion: Easy
      WAREHOUSE, STORAGE
      $420,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1715
    Latitude
    26.13
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,178
    $40,030
    $299,050
    $339,080
    -
    $40,030
    $299,050
    $339,080

    Comparable in this City

    • Value Estimation
      $800,000
      2,469 SF

      245-331 27th Ave

      STORE/OFFICE (MIXED USE) • 2,469 SF
      245-331 27th Ave, Fort Lauderdale, FL 33311
      View Details
    • Value Estimation by Request
      1,357 SF

      1536 6th St

      STORES & APARTMENTS • 1,357 SF
      1536 6th St, Fort Lauderdale, FL 33311-7846
      View Details
    • Value Estimation
      $565,000
      2,299 SF

      1108 6th St

      STORES & APARTMENTS • 2,299 SF
      1108 6th St, Fort Lauderdale, FL 33311-8008
      View Details
    • Value Estimation
      $2,825,000
      11,397 SF

      201 Sunrise Blvd

      STORE/OFFICE (MIXED USE) • 11,397 SF
      201 Sunrise Blvd, Fort Lauderdale, FL 33311-6285
      View Details
    • Value Estimation by Request
      1,536 SF

      925 Andrews Ave

      STORES & APARTMENTS • 1,536 SF
      925 Andrews Ave, Fort Lauderdale, FL 33311-7440
      View Details
    • Value Estimation
      $1,075,000
      4,296 SF

      1296 31st Ave

      STORES & APARTMENTS • 4,296 SF
      1296 31st Ave, Fort Lauderdale, FL 33311-5028
      View Details

    Similar Nearby for Sale

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      2,504 SF

      Downtown Commercial Building For Sale

      Two-story commercial building on a 7,000 SF lot.
      1021 NW 1St St, Fort Lauderdale, FL 33311
      View Details
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      $799,900
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      Mixed-Use Investment Opportunity

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      Fort Lauderdale Commercial Building For Sale

      Two-story commercial building in downtown Fort Lauderdale, great location.
      1021 NW 1St St, Fort Lauderdale, FL 33311
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    • Contact for pricing

      Vacant Retail Land For Sale

      0.73 acre vacant retail land with Sunrise Boulevard exposure.
      723 W Sunrise Blvd, Fort Lauderdale, FL 33311
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      New Mixed-Use Development on Avenue

      Modern mixed-use development with prime commercial space in Fort Lauderdale.
      501 NW 7Th Ave, Fort Lauderdale, FL 33311
      View Details
    • $30 SF/Yr
      1,400 SF

      New Mixed-Use Development Retail Space

      New retail space in downtown Fort Lauderdale's Avenue of the Arts.
      501 NW 7Th St, Fort Lauderdale, FL 33311
      View Details
    • Contact for pricing

      Broward Centre of Commerce Space

      Strategically located industrial park in Lauderdale Lakes, Florida.
      3435-3699 NW 19Th St, Lauderdale Lakes, FL 33311
      View Details
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    Fort Lauderdale, FL 33311
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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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