Corner Residential Income
For Sale
$270,000
1811 Sabal Palm Drive, Davie, FL 33324
Screened Florida room, split-bedroom layout, and in-unit laundry support practical occupancy.
Property Size1,170 SF
Price / SF$230.77
Days on Market161
Property Features for 1811 Sabal Palm Drive
General Information
Standard status
Active
Size
1,170 SF
Elevators
Yes
Property subtype
MultiFamily Apartments
Occupancy
100%
Financials
Asking Price
$270,000
Gross Income
$30,000
Average Monthly Rent
$2,500
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
screened Florida room
in-unit washer/dryer
pool
golf course
tennis courts
basketball courts
fitness center
sauna
restaurant
lounge
card room
meeting room
BBQ areas
playground
jogging paths
biking paths
clubhouse
Building Details
Building Size
1,170 SF
Tenancy
Single
Listing Agency:
TIR Prime Properties
(305) 944-5900
Listed By:
Mariano Saal · License #A11876811
(305) 944-5900
Source:
Thebrokerlist
Added: Mar 24
Changed: Aug 30
Last Checked: Aug 30 at 4:40PM
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 TIR Prime Properties
Investment Insights
Based on property information with market context.
This 4th-floor corner residence in Sabal Palm Condo at Pine Island Ridge provides 1,170 square feet with three bedrooms and two bathrooms. The interior includes a split-bedroom arrangement, a large walk-in closet in the primary suite, and an in-unit washer and dryer. A screened Florida room faces the garden. The unit is currently leased through January 2027 and is reported at 100% occupancy.
The HOA covers the building exterior, cable TV, elevator, common areas, landscaping, pool service, trash removal, and water. Residents also have access to Pine Island Ridge country club amenities, including a golf course, tennis and basketball courts, fitness facilities, restaurants and lounges, recreational paths, a clubhouse, and additional community facilities. The property is located in Davie near Nova Southeastern University, Broward College, the Seminole Hard Rock Hotel & Casino, shopping, dining, parks, and highway access.
The HOA covers the building exterior, cable TV, elevator, common areas, landscaping, pool service, trash removal, and water. Residents also have access to Pine Island Ridge country club amenities, including a golf course, tennis and basketball courts, fitness facilities, restaurants and lounges, recreational paths, a clubhouse, and additional community facilities. The property is located in Davie near Nova Southeastern University, Broward College, the Seminole Hard Rock Hotel & Casino, shopping, dining, parks, and highway access.
Key Highlights
- 1,170 SF 4th‑floor corner unit with 3 bedrooms and 2 bathrooms
- Leased through January 2027; 100% occupancy
- Split‑bedroom layout with a large walk‑in closet in the primary suite
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
$11,897
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
4.41%
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%
$237,940
$237.9K
Cap Rate 7%
$169,957
$170.0K
Cap Rate 9%
$132,189
$132.2K
Market Conditions
NOI Build-Up for 1,170 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
$22.3K $19.08/SF
− Vacancy
−$692 −$0.59/SF
EGI
$21.6K $18.49/SF
− OpEx
−$9.7K −$8.32/SF
NOI
$11.9K $10.17/SF
Area
Davie, FL
Vacancy
3.10%
Lease Rate
$19.08 /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%
$237,940
Cap Rate 7%
$169,957
Cap Rate 9%
$132,189
Alternative Uses
Best Use
Apartment 5plus
$170.0K
$148.7K – $198.3K
NOI $11,897 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$221.8K
$194.1K – $258.8K
NOI $15,528 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Explore this area
Business Placement
Demographics for 33324, FL
46,766
Population
22,375
Households
2.1
Avg Household Size
41
Median Age
45%
College-Educated
94%
High-School Grad
9.0 sq mi
ZIP Area
5,196
Density / Sq Mi
$83,678
Median Household Income
$45,560
Median Earnings
$2,152
Median Rent
$350,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Screened Florida room, split-bedroom layout, and in-unit laundry support practical occupancy.
Where is this residential income property located?
The property is located at 1811 Sabal Palm Drive Davie, FL.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: 1,170 SF 4th‑floor corner unit with 3 bedrooms and 2 bathrooms; Leased through January 2027; 100% occupancy; Split‑bedroom layout with a large walk‑in closet in the primary suite
