Renovated Income-Producing
For Sale
$599,000
3380 NW 8th Pl, Lauderhill, FL 33311
Fully renovated triplex with long-term tenants, ensuring steady cash flow.
Property Size1,226 SF
Days on Market163
Property Features for 3380 NW 8th Pl
General Information
Standard status
Active
Size
1,226 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$8,680
Building Details
Building Size
1,226 SF
Year Built
1959
Stories
1
Units
2
Listing Agency:
LUXE Properties LLC
(786) 400-8478
Listed By:
Esmil Borrego Abreu · License #3514392
(786) 400-8478
Source:
Elliman
Added: Mar 10
Changed: Aug 19
Last Checked: Aug 19 at 10:24AM
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 LUXE Properties LLC
Investment Insights
Based on property information with market context.
This is a fully renovated income-producing triplex. Located at 3380 NW 8th Pl Unit A-C, the property is currently occupied by tenants on long-term leases, providing immediate cash flow. Each unit has been updated. A shared washer and dryer are available on site for all three tenants. This turnkey property represents an investment opportunity in a growing area.
Key Highlights
- Fully renovated triplex, minimizing maintenance
- Tenants in place with long‑term leases, providing immediate cash flow
- Turnkey property, ready for immediate investment
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
$20,437
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
3.41%
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%
$408,740
$408.7K
Cap Rate 7%
$291,957
$292.0K
Cap Rate 9%
$227,078
$227.1K
Market Conditions
NOI Build-Up for 1,226 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
$30.9K $25.20/SF
− Vacancy
−$1.7K −$1.39/SF
EGI
$29.2K $23.81/SF
− OpEx
−$8.8K −$7.14/SF
NOI
$20.4K $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%
$408,740
Cap Rate 7%
$291,957
Cap Rate 9%
$227,078
Alternative Uses
Best Use
Multifamily LT 5
$292.0K
$255.5K – $340.6K
NOI $20,437 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$269.4K
$235.7K – $314.3K
NOI $18,855 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$622.0K
$544.3K – $725.7K
NOI $43,540 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
681
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully renovated triplex with long-term tenants, ensuring steady cash flow.
Where is this triplex located?
The property is located at 3380 NW 8th Pl Lauderhill, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Fully renovated triplex, minimizing maintenance; Tenants in place with long‑term leases, providing immediate cash flow; Turnkey property, ready for immediate investment
