Renovated Two-Unit
New
For Sale
$525,000
2921 NW 11TH Street, Fort Lauderdale, FL 33311
Updated duplex with separate laundry areas and flexible occupancy across both residences.
Property Size1,744 SF
Price / SF$301.03
Days on Market4
Property Features for 2921 NW 11TH Street
General Information
Standard status
Active
Size
1,744 SF
Total Parking Spaces
3
Property subtype
Residential Income
Zoning
RD-10
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,553
Building Details
Building Size
1,744 SF
Year Built
1970
Stories
1
Listing Agency:
The Keyes Company (PBG)
(561) 889-8170
Listed By:
Darian Grant · License #3532854
(561) 889-8170
Source:
Laerrealty
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 4:44AM
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 The Keyes Company (PBG)
Investment Insights
Based on property information with market context.
This renovated duplex contains 1,744 square feet with two residences, each offering two bedrooms and one bathroom. Separate laundry areas are provided outside the individual units, preserving usable interior space. The roof was replaced in 2024, and the property carries RD-10 zoning.
The east residence is vacant and ready for occupancy, while the west residence is scheduled to become available on September 1. The property is located at 2921 NW 11th Street in Fort Lauderdale, near shopping, dining, parks, schools, and beaches.
The east residence is vacant and ready for occupancy, while the west residence is scheduled to become available on September 1. The property is located at 2921 NW 11th Street in Fort Lauderdale, near shopping, dining, parks, schools, and beaches.
Key Highlights
- Two‑unit duplex with 1,744 square feet
- Both units include 2 bedrooms and 1 bathroom
- Separate laundry areas serve each residence
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
$29,072
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
5.54%
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%
$581,440
$581.4K
Cap Rate 7%
$415,314
$415.3K
Cap Rate 9%
$323,022
$323.0K
Market Conditions
NOI Build-Up for 1,744 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
$43.9K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$41.5K $23.81/SF
− OpEx
−$12.5K −$7.14/SF
NOI
$29.1K $16.67/SF
Area
Fort Lauderdale, 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%
$581,440
Cap Rate 7%
$415,314
Cap Rate 9%
$323,022
Alternative Uses
Best Use
Multifamily LT 5
$415.3K
$363.4K – $484.5K
NOI $29,072 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$374.1K
$327.4K – $436.5K
NOI $26,188 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,038 @ 7.0% cap · market cap 15.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
715
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
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 - Updated duplex with separate laundry areas and flexible occupancy across both residences.
Where is this duplex located?
The property is located at 2921 NW 11TH Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,744 square feet; Both units include 2 bedrooms and 1 bathroom; Separate laundry areas serve each residence
