Updated Detached
For Sale
$790,000
Pending
35 NE 3rd Street, Dania Beach, FL 33004
Two updated residences offer distinct layouts, including a garage and multiple bathrooms.
Property Size4,492 SF
Days on Market605
Property Features for 35 NE 3rd Street
General Information
Standard status
Pending
Size
4,492 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$10,167
Building Details
Year Built
1957
Buildings
1
Listing Agency:
Cohen Realty Group
Listed By:
Gamila Y Cohen · License #3240294
(954) 826-7785
Source:
Exitrealty
Added: Jan 7, 2025
Changed: Sep 2
Last Checked: Aug 30 at 4:44PM
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 Cohen Realty Group
Investment Insights
Based on property information with market context.
This detached duplex contains two residences with separate configurations. The front unit has two bedrooms, one bathroom, and a one-car garage, while the rear unit provides two bedrooms and two bathrooms. Both interiors have received updates within the past few years.
The property is at 35 NE 3rd Street in Dania Beach, adjacent to US1/Federal Hwy. It is 2.2 miles from the beach, one mile from Publix, and positioned for access to the airport and major highways. The two-unit arrangement may support either short-term Airbnb use or conventional long-term tenancy, subject to applicable requirements. Built in 1957.
The property is at 35 NE 3rd Street in Dania Beach, adjacent to US1/Federal Hwy. It is 2.2 miles from the beach, one mile from Publix, and positioned for access to the airport and major highways. The two-unit arrangement may support either short-term Airbnb use or conventional long-term tenancy, subject to applicable requirements. Built in 1957.
Key Highlights
- Two‑unit detached duplex with updated interiors
- Front residence includes 2 bedrooms, 1 bathroom, and a 1‑car garage
- Rear residence offers 2 bedrooms and 2 bathrooms
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
$69,084
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
8.74%
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%
$1,381,680
$1.4M
Cap Rate 7%
$986,914
$986.9K
Cap Rate 9%
$767,600
$767.6K
Market Conditions
NOI Build-Up for 4,492 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
$131.5K $29.28/SF
− Vacancy
−$5.9K −$1.32/SF
EGI
$125.6K $27.96/SF
− OpEx
−$56.5K −$12.58/SF
NOI
$69.1K $15.38/SF
Area
Broward County, FL
Vacancy
4.50%
Lease Rate
$29.28 /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%
$1,381,680
Cap Rate 7%
$986,914
Cap Rate 9%
$767,600
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$936.0K – $1.25M
NOI $74,881 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$986.9K
$863.6K – $1.15M
NOI $69,084 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,529 @ 7.0% cap · market cap 20.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,369
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?
Duplex - Two updated residences offer distinct layouts, including a garage and multiple bathrooms.
Where is this duplex located?
The property is located at 35 NE 3rd Street Dania Beach, FL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Two‑unit detached duplex with updated interiors; Front residence includes 2 bedrooms, 1 bathroom, and a 1‑car garage; Rear residence offers 2 bedrooms and 2 bathrooms
