Updated Triplex with Strong Rental
For Sale
$815,000
2260 NW 59th Way, Lauderhill, FL 33313
Fully updated triplex with strong rental income potential.
Property Size3,013 SF
Days on Market151
Property Features for 2260 NW 59th Way
General Information
Standard status
Active
Size
3,013 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$17,387
Building Details
Building Size
3,013 SF
Year Built
1981
Stories
2
Listing Agency:
(302) 287-0520
Listed By:
La'Qiana Robbins
(302) 287-0520
Source:
Elliman
Added: Mar 26
Changed: Aug 22
Last Checked: Aug 22 at 11:53AM
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 La'Qiana Robbins
Investment Insights
Based on property information with market context.
This fully updated triplex presents a clean, low-maintenance investment opportunity with strong rental appeal. Each of the three units includes 2 bedrooms and 1.5 bathrooms, private entrances, and equal layouts designed for long-term tenant stability. Major capital improvements have been completed, including a roof replacement in 2023, impact windows and doors installed in 2021, and HVAC systems with tankless water heaters replaced in 2022. All units feature updated kitchens, with two of the three units having fully renovated full and half baths. The middle unit is in the final stages of renovation, with completion expected by the end of March, positioning the property for full market rents immediately. Each unit includes two dedicated parking spaces and a privately sectioned backyard, a feature that increases tenant retention and overall desirability. This property is ideal for buyers seeking a stabilized asset with minimal deferred maintenance and clear upside in rental income.
Key Highlights
- Fully renovated triplex with strong rental appeal and minimal deferred maintenance.
- Major capital improvements completed: roof (2023), impact windows and doors (2021), HVAC systems with tankless water heaters (2022).
- Each unit features 2 bedrooms and 1.5 bathrooms with private entrances and equal layouts.
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
$50,226
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
6.16%
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%
$1,004,520
$1.0M
Cap Rate 7%
$717,514
$717.5K
Cap Rate 9%
$558,067
$558.1K
Market Conditions
NOI Build-Up for 3,013 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
$75.9K $25.20/SF
− Vacancy
−$4.2K −$1.39/SF
EGI
$71.8K $23.81/SF
− OpEx
−$21.5K −$7.14/SF
NOI
$50.2K $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%
$1,004,520
Cap Rate 7%
$717,514
Cap Rate 9%
$558,067
Alternative Uses
Best Use
Multifamily LT 5
$717.5K
$627.8K – $837.1K
NOI $50,226 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$662.0K
$579.2K – $772.3K
NOI $46,338 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,004 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
Explore this area
Business Placement
Demographics for 33313, FL
63,284
Population
25,312
Households
2.5
Avg Household Size
36
Median Age
15%
College-Educated
85%
High-School Grad
6.3 sq mi
ZIP Area
10,045
Density / Sq Mi
$45,408
Median Household Income
$30,872
Median Earnings
$1,608
Median Rent
$236,300
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 - Fully updated triplex with strong rental income potential.
Where is this triplex located?
The property is located at 2260 NW 59th Way Lauderhill, FL.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: Fully renovated triplex with strong rental appeal and minimal deferred maintenance.; Major capital improvements completed: **roof (2023), impact windows and doors (2021), HVAC systems with tankless water heaters (2022).**; Each unit features 2 bedrooms and 1.5 bathrooms with private entrances and equal layouts.
