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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    901 40Th Dr Oakland Park, FL 33334

    • Small apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2337341
    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.

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 901 40Th Dr

    Year built
    1959
    Property type
    Small apartment buildings

    Description

    This exceptional triplex in desirable East Oakland Park, Florida presents a lucrative investment opportunity. Built in 1959, this single-story building boasts a newly installed roof and modern tankless water heaters, minimizing maintenance concerns and maximizing efficiency. The property comprises two one-bedroom, one-bathroom units and a convenient efficiency unit, providing diverse rental income streams. Ample parking is available, with space for up to seven vehicles. Its strategic location offers unparalleled convenience, with easy walking access to a vibrant array of restaurants, bars, coffee shops, and the City Hall, all situated within the thriving Culinary Arts district. Residents enjoy proximity to major amenities, including a Publix supermarket, beautiful beaches, and Fort Lauderdale-Hollywood International Airport, enhancing the property's appeal to tenants. The address is 901 NE 40th St, Oakland Park, FL 33334, in Broward County. The asking price for this well-maintained multifamily property is $569,900. This represents a strong investment opportunity in a high-demand area with excellent potential for long-term growth and rental income.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Oakland Park
    County
    Broward
    State
    Florida
    Longitude
    -80.135547
    Latitude
    26.176207

    Comparable in this City

    • $9,900,000
      1.30 Acres

      Oakland Park Mixed-Use Investment

      Prime Broward County location, high traffic, flexible zoning.
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    • $92,000

      Imperial Point Apartment with Updates

      Well-maintained apartment in prestigious subdivision, featuring new roof and windows.
      6260 NE 18Th Ave, Fort Lauderdale, FL 33334
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      Oakland Park Multifamily Investment Property

      Seven-unit building in Oakland Park, generating $17,600 monthly.
      86 NE 36Th Ct, Fort Lauderdale, FL 33334
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    • $1,185,000
      Pending

      Waterfront Multifamily Investment Opportunity

      Oakland Park 5-unit multifamily property with $120K gross annual income.
      1310 NE 30Th St, Fort Lauderdale, FL 33334
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    • $749,999

      Updated Duplex in Oakland Park

      Turnkey duplex with modern updates, ideal for investors or owners.
      260 NE 41St St, Fort Lauderdale, FL 33334
      View Details
    • $1,750,000
      2,215 SF

      Waterfront Duplex in Wilton Manors

      Luxury duplex with redevelopment potential in prime location.
      50 NE 30 Ct, Fort Lauderdale, FL 33334
      View Details

    Similar Nearby for Sale

    • $9,900,000
      1.30 Acres

      Oakland Park Mixed-Use Investment

      Prime Broward County location, high traffic, flexible zoning.
      1299 Oakland Park Blvd, Oakland Park, FL 33334
      View Details
    • $92,000

      Imperial Point Apartment with Updates

      Well-maintained apartment in prestigious subdivision, featuring new roof and windows.
      6260 NE 18Th Ave, Fort Lauderdale, FL 33334
      View Details
    • $1,700,000

      Oakland Park Multifamily Investment Property

      Seven-unit building in Oakland Park, generating $17,600 monthly.
      86 NE 36Th Ct, Fort Lauderdale, FL 33334
      View Details
    • $1,185,000
      Pending

      Waterfront Multifamily Investment Opportunity

      Oakland Park 5-unit multifamily property with $120K gross annual income.
      1310 NE 30Th St, Fort Lauderdale, FL 33334
      View Details
    • $749,999

      Updated Duplex in Oakland Park

      Turnkey duplex with modern updates, ideal for investors or owners.
      260 NE 41St St, Fort Lauderdale, FL 33334
      View Details
    • $1,750,000
      2,215 SF

      Waterfront Duplex in Wilton Manors

      Luxury duplex with redevelopment potential in prime location.
      50 NE 30 Ct, Fort Lauderdale, FL 33334
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo

      Apartment with Private Backyard

      One-bedroom apartment with large deck and private backyard.
      1425 NE 56Th St, Fort Lauderdale, FL 33334
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    • $2,050 /Mo

      Spacious Two Bedroom Apartment

      Comfortable 2-bed, 1-bath apartment with modern amenities.
      3640 NE 1St Ave, Oakland Park, FL 33334
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    • $1,500 /Mo

      Oakland Park Condo For Rent

      Cozy 1 bed, 1 bath condo near the beach.
      5174 NE 6Th Ave, Oakland Park, FL 33334
      View Details
    • $1,850 /Mo

      Oakland Park Apartment For Rent

      Apartment for rent in Oakland Park with parking and W/D.
      3661 NE 11Th Ave, Oakland Park, FL 33334
      View Details
    • $2,300 /Mo

      Spacious Duplex Near Downtown

      Well-maintained duplex with modern amenities and convenient location.
      1658 NE 34Th St, Fort Lauderdale, FL 33334
      View Details
    • $2,200 /Mo

      Remodeled Unit Near Wilton Drive

      Remodeled 2/1 unit with patio near Wilton Drive.
      820 NE 28Th St, Fort Lauderdale, FL 33334
      View Details
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    901 40Th Dr
    Oakland Park, FL 33334
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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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