Renovated Duplex in Dania
For Sale
$749,000
251-253 Southwest 11th Street, Dania Beach, FL 33004
Income-producing duplex with long-term leases in a growing area.
Property Size1,728 SF
Price / SF$433.45
Days on Market186
Property Features for 251-253 Southwest 11th Street
General Information
Standard status
Active
Size
1,728 SF
Property subtype
Residential Income / Duplex
Taxes and HOA fees
Annual Taxes
$7,389
Building Details
Year Built
1995
Listing Agency:
Coldwell Banker Realty
(954) 527-5900
Listed By:
Sherri Pfefer · License #3231420
(954) 527-5900
Source:
Compass
Added: Feb 23
Changed: Aug 26
Last Checked: Aug 26 at 1:37PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This income-producing duplex is located in Dania Beach. The multifamily property has been fully renovated and totals 1,728 square feet. Unit 1 is a 2-bedroom, 1-bathroom unit with 720 square feet, leased at $2,000 per month. Unit 2 is a 3-bedroom, 2-bathroom unit with 1,008 square feet, leased at $2,500 per month. The current gross annual income is $54,000. Long-term leases are in place through April and May 2027. Capital improvements include a new roof, impact windows, new kitchens, updated bathrooms, new flooring, and new laundry appliances. Separate water meters are installed for each unit. Each unit includes two dedicated parking spaces. The property is located minutes from Dania Pointe, Fort Lauderdale-Hollywood International Airport, Downtown Fort Lauderdale, beaches, major highways, shopping, dining, and entertainment.
Key Highlights
- High Gross Annual Income: $54,000 current gross annual income provides immediate cash flow.
- Long‑Term Leases: Leases in place through April and May 2027 offer long‑term stability.
- Fully Renovated: New roof, impact windows, kitchens, bathrooms, flooring, and laundry appliances minimize 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
$28,805
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
3.85%
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%
$576,100
$576.1K
Cap Rate 7%
$411,500
$411.5K
Cap Rate 9%
$320,056
$320.1K
Market Conditions
NOI Build-Up for 1,728 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
$43.5K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$41.2K $23.81/SF
− OpEx
−$12.3K −$7.14/SF
NOI
$28.8K $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%
$576,100
Cap Rate 7%
$411,500
Cap Rate 9%
$320,056
Alternative Uses
Best Use
Multifamily LT 5
$411.5K
$360.1K – $480.1K
NOI $28,805 @ 7.0% cap · market cap 3.85%
Second Best
Apartment 5plus
$379.6K
$332.2K – $442.9K
NOI $26,575 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$876.7K
$767.1K – $1.02M
NOI $61,368 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,145
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 - Income-producing duplex with long-term leases in a growing area.
Where is this duplex located?
The property is located at 251-253 Southwest 11th Street Dania Beach, FL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: High Gross Annual Income: $54,000 current gross annual income provides immediate cash flow.; Long‑Term Leases: Leases in place through April and May 2027 offer long‑term stability.; Fully Renovated: New roof, impact windows, kitchens, bathrooms, flooring, and laundry appliances minimize maintenance.
