Courtyard Apartment Building with Five
For Sale
$1,499,000
249 SW 14th Street #1-4, Dania Beach, FL 33004
Fully occupied Dania Beach apartment building arranged around a courtyard, offering a main house plus four units and reported 6% cap rate.
Property Size3,375 SF
Price / SF$444.15
Days on Market82
Property Features for 249 SW 14th Street #1-4
General Information
Standard status
Active
Size
3,375 SF
Total Parking Spaces
8
Property subtype
Residential Income
Zoning
NBHD-RES
Occupancy
100%
Additional Details
Cap Rate
6%
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$5,822
Building Details
Building Size
3,375 SF
Year Built
1956
Stories
1
Tenancy
Multi
Listing Agency:
LPT Realty, LLC
(954) 589-8763
Listed By:
Elkin Sanchez · License #3554939
(954) 589-8763
Source:
Laerrealty
Added: Jun 12
Changed: Aug 26
Last Checked: Sep 1 at 2:57PM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This fully occupied apartment building consists of a main house plus four additional units, arranged around a courtyard. The property is presented as a residential income asset with an established, stable tenant base.
Located in Dania Beach at 249 SW 14th St (units 1-4), the building benefits from a walkScore of 56 and a bikeScore of 47. The transitScore is listed at 35.
For investors or buyers seeking a straightforward multifamily structure, the five-unit configuration provides multiple rental accounts within one courtyard-centered property. The listing emphasizes occupancy and a reported 6% cap rate, which may appeal to those looking for current income performance supported by the property’s existing tenant situation.
Located in Dania Beach at 249 SW 14th St (units 1-4), the building benefits from a walkScore of 56 and a bikeScore of 47. The transitScore is listed at 35.
For investors or buyers seeking a straightforward multifamily structure, the five-unit configuration provides multiple rental accounts within one courtyard-centered property. The listing emphasizes occupancy and a reported 6% cap rate, which may appeal to those looking for current income performance supported by the property’s existing tenant situation.
Key Highlights
- Built in 1956 multi‑family property in Dania Beach
- Arranged around a courtyard with a main house plus four additional units
- Reported fully occupied with stable tenant base
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
$51,905
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
3.46%
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%
$1,038,100
$1.0M
Cap Rate 7%
$741,500
$741.5K
Cap Rate 9%
$576,722
$576.7K
Market Conditions
NOI Build-Up for 3,375 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
$98.8K $29.28/SF
− Vacancy
−$4.4K −$1.32/SF
EGI
$94.4K $27.96/SF
− OpEx
−$42.5K −$12.58/SF
NOI
$51.9K $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%
$1,038,100
Cap Rate 7%
$741,500
Cap Rate 9%
$576,722
Alternative Uses
Best Use
Apartment 5plus
$741.5K
$648.8K – $865.1K
NOI $51,905 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,860 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,193
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?
Apartment building - Fully occupied Dania Beach apartment building arranged around a courtyard, offering a main house plus four units and reported 6% cap rate.
Where is this apartment building located?
The property is located at 249 SW 14th Street #1-4 Dania Beach, FL.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Built in 1956 multi‑family property in Dania Beach; Arranged around a courtyard with a main house plus four additional units; Reported fully occupied with stable tenant base
