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    824 4Th St Fort Lauderdale, FL 33301
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    Property profile & analytics

    824 4Th St Fort Lauderdale, FL 33301

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    • Commercial real estate
    Off-Market
    Property ID
    US18-1148844
    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

    • Cabessa Property Management / Apartment Complex

    Property Details for 824 4Th St

    Year built
    1960
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a fully renovated six-unit multifamily building located at 824 NE 4th St #6, Fort Lauderdale, Florida, 33301, in the desirable Victoria Park neighborhood. Built in 1960, this single-building property boasts a compelling asking price of $1,500,000. The property comprises five one-bedroom, one-bathroom units and one efficiency unit, all featuring brand new kitchens and bathrooms. Significant upgrades include a new roof, impact-resistant windows and doors, and two conveniently located laundry rooms. Two units offer the added benefit of private, spacious patios. Its prime location offers easy walking access to downtown Fort Lauderdale, Las Olas Boulevard, Fort Lauderdale Beach, and a vibrant array of upscale restaurants, nightlife, museums, waterways, and shopping. The property's proximity to the beach further enhances its appeal. Currently leased to annual tenants, this turnkey property is also ideally suited for short-term vacation rentals or Airbnb operations, presenting significant potential for income maximization. This is a rare opportunity to acquire a meticulously renovated multifamily property in a highly sought-after location.

    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
    -80.1345329
    Latitude
    26.1260074

    Comparable in this City

    • $1,300,000
      0.16 Acres

      Land

      7,000 sqft corner lot zoned for multiple residences.
      701 NE 1St St, Fort Lauderdale, FL 33301
      View Details
    • $3,750,000

      Victoria Park Multifamily Investment Opportunity

      14-unit apartment building in Fort Lauderdale's Victoria Park neighborhood.
      105 Northeast 16Th Ter, Fort Lauderdale, FL 33301
      View Details
    • $950,000
      1,827 SF

      Remodeled Duplex in Victoria Park

      Turnkey duplex in serene Victoria Park neighborhood, Fort Lauderdale.
      1637 NE 5Th Ct, Fort Lauderdale, FL 33301
      View Details

    Similar Nearby for Sale

    • New
      $3,300,000
      0.28 Acres

      Victoria Park Multifamily Investment Opportunity

      14-unit apartment building in Fort Lauderdale's Victoria Park.
      105 NE 16Th Ter, Fort Lauderdale, FL 33301
      View Details
    • $1,300,000
      0.16 Acres

      Land

      7,000 sqft corner lot zoned for multiple residences.
      701 NE 1St St, Fort Lauderdale, FL 33301
      View Details
    • $3,750,000

      Victoria Park Multifamily Investment Opportunity

      14-unit apartment building in Fort Lauderdale's Victoria Park neighborhood.
      105 Northeast 16Th Ter, Fort Lauderdale, FL 33301
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      25,243 SF

      Mixed-Use Space on Las Olas

      Office, retail, and apartments in a mixed-use development.
      201 E Las Olas Blvd, Fort Lauderdale, FL 33301
      View Details
    • $1,800 /Mo

      Apartment For Rent

      Apartment available for rent, building under construction.
      90 Isle Of Venice Dr, Fort Lauderdale, FL 33301
      View Details
    • $12 SF/Yr

      Las Olas Boutique Apartment Living

      Boutique apartment near Las Olas with modern amenities.
      225 SE 16Th Ave, Fort Lauderdale, FL 33301
      View Details
    • $12 SF/Yr

      Renovated Duplex in Victoria Park

      Fully furnished, renovated duplex near downtown and beaches.
      1710 NE 5Th Ct, Fort Lauderdale, FL 33301
      View Details
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    Fort Lauderdale, FL 33301
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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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