Well-Maintained Apartment
For Sale
$1,195,000
1111 SW 2nd Street, Fort Lauderdale, FL 33312
Apartment building offered with a private, fenced lot and maintained central air and heat.
Property Size2,340 SF
Days on Market119
Property Features for 1111 SW 2nd Street
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Quadruplex
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$14,331
Building Details
Building Size
2,340 SF
Year Built
1969
Listing Agency:
Savvy Avenue, LLC
(888) 490-1268
Listed By:
Moe Mossa · License #3432985
Source:
Relinkre
Added: May 5
Changed: Aug 23
Last Checked: Aug 30 at 10:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Savvy Avenue, LLC
Investment Insights
Based on property information with market context.
This apartment building is currently used as long-term rentals and is described as clean, neat, organized, and very well maintained. The property includes a private, fenced lot with tropical exotics and has central air and heat that are well maintained.
Located in historic Sailboat Bend in an area described as clean and safe, the property is noted as being in-demand for rentals. It is also described as being near shopping and restaurants, with close proximity to the new Police Headquarters and an approximately 3-mile drive to the beach.
The shared property line with a Ten Plex is noted, with the adjacent building referenced at 109 Palm Ave on a major corner of Palm Avenue and Broward Blvd.
Located in historic Sailboat Bend in an area described as clean and safe, the property is noted as being in-demand for rentals. It is also described as being near shopping and restaurants, with close proximity to the new Police Headquarters and an approximately 3-mile drive to the beach.
The shared property line with a Ten Plex is noted, with the adjacent building referenced at 109 Palm Ave on a major corner of Palm Avenue and Broward Blvd.
Key Highlights
- Apartment building built in 1969 in historic Sailboat Bend
- Private, fenced lot with tropical exotics
- Central air and heat that are well maintained
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,138
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$702,760
$702.8K
Cap Rate 7%
$501,971
$502.0K
Cap Rate 9%
$390,422
$390.4K
Market Conditions
NOI Build-Up for 2,340 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$67.4K $28.80/SF
− Vacancy
−$3.5K −$1.50/SF
EGI
$63.9K $27.30/SF
− OpEx
−$28.7K −$12.29/SF
NOI
$35.1K $15.02/SF
Area
Fort Lauderdale, FL
Vacancy
5.20%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$702,760
Cap Rate 7%
$501,971
Cap Rate 9%
$390,422
Alternative Uses
Best Use
Apartment 5plus
$502.0K
$439.2K – $585.6K
NOI $35,138 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.38M – $1.83M
NOI $110,074 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
7,694
Businesses Nearby
Explore this area
Business Placement
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Apartment building offered with a private, fenced lot and maintained central air and heat.
Where is this short term rental property located?
The property is located at 1111 SW 2nd Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Apartment building built in 1969 in historic Sailboat Bend; Private, fenced lot with tropical exotics; Central air and heat that are well maintained
