Fully Remodeled
For Sale
$979,990
111 NW 7th Ave, Dania Beach, FL 33004
Permitted 2024 remodel includes a new roof and impact-resistant doors and windows for immediate income operation.
Property Size2,128 SF
Days on Market137
Property Features for 111 NW 7th Ave
General Information
Standard status
Active
Size
2,128 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$12,433
Amenities
swimming pool
fitness center
computer lab
craft and reading rooms
recreation hall with full kitchen
playground
three outdoor basketball courts
multipurpose field
Building Details
Building Size
2,128 SF
Year Built
1968
Year Renovated
2024
Stories
1
Units
3
Listing Agency:
United Realty Group, Inc
Listed By:
Jenny Angelica Vega · License #3605413
(954) 716-0733
Source:
Elliman
Added: Apr 24
Changed: Aug 13
Last Checked: Sep 7 at 9:08AM
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 United Realty Group, Inc
Investment Insights
Based on property information with market context.
This fully remodeled triplex was completed in 2024 with permits. The property is positioned for immediate operation, with extensive upgrades throughout that support turnkey use. Improvements include a new 2024 roof and impact-resistant doors and windows, along with broad renovation work intended to reduce future maintenance needs while enhancing safety and energy efficiency.
The building is located just minutes from C.W. Thomas Park, a community amenity that features a swimming pool, fitness center, computer lab, craft and reading rooms, and a recreation hall with a full kitchen. Outdoor amenities include a playground, three outdoor basketball courts, and a multipurpose field, which may support tenant appeal given the proximity to these resources.
Overall, the asset is presented as a well-maintained, turn-key multifamily property with modernized systems and finishes completed in 2024.
The building is located just minutes from C.W. Thomas Park, a community amenity that features a swimming pool, fitness center, computer lab, craft and reading rooms, and a recreation hall with a full kitchen. Outdoor amenities include a playground, three outdoor basketball courts, and a multipurpose field, which may support tenant appeal given the proximity to these resources.
Overall, the asset is presented as a well-maintained, turn-key multifamily property with modernized systems and finishes completed in 2024.
Key Highlights
- Triplex built in 1968 with a fully remodeled 2024 renovation completed with permits
- 2024 roof plus impact‑resistant doors and windows
- Extensive 2024 upgrades throughout to support safe, energy‑efficient operations and reduced future maintenance
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
$35,473
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
3.62%
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%
$709,460
$709.5K
Cap Rate 7%
$506,757
$506.8K
Cap Rate 9%
$394,144
$394.1K
Market Conditions
NOI Build-Up for 2,128 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
$53.6K $25.20/SF
− Vacancy
−$2.9K −$1.39/SF
EGI
$50.7K $23.81/SF
− OpEx
−$15.2K −$7.14/SF
NOI
$35.5K $16.67/SF
Area
Broward County, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$709,460
Cap Rate 7%
$506,757
Cap Rate 9%
$394,144
Alternative Uses
Best Use
Multifamily LT 5
$506.8K
$443.4K – $591.2K
NOI $35,473 @ 7.0% cap · market cap 3.62%
Second Best
Apartment 5plus
$467.5K
$409.1K – $545.5K
NOI $32,727 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$1.08M
$944.7K – $1.26M
NOI $75,574 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,765
Businesses Nearby
Explore this area
Business Placement
Demographics for 33004, FL
16,162
Population
9,427
Households
1.7
Avg Household Size
45
Median Age
34%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
2,377
Density / Sq Mi
$50,783
Median Household Income
$41,540
Median Earnings
$1,616
Median Rent
$336,200
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?
Triplex - Permitted 2024 remodel includes a new roof and impact-resistant doors and windows for immediate income operation.
Where is this triplex located?
The property is located at 111 NW 7th Ave Dania Beach, FL.
What is the asking price?
The asking price for this property is $979,990.
What are key features of this property?
This property features: Triplex built in 1968 with a fully remodeled 2024 renovation completed with permits; 2024 roof plus impact‑resistant doors and windows; Extensive 2024 upgrades throughout to support safe, energy‑efficient operations and reduced future maintenance
