189-Unit Apartment
For Sale
$29,500,000
5451 SW 11th St, Margate, FL 33068
Multifamily community with a swimming pool, lake, varied floorplans, and access to major Broward County corridors.
Property Size120,232 SF
Lot Size18.81 Acres
Price / SF$245.36
Days on Market47
Property Features for 5451 SW 11th St
General Information
Standard status
Active
Size
120,232 SF
Lot size
18.81 Acres
Property subtype
Multifamily
Occupancy
95%
Units
Unit Mix
155 x 1BR/1BA, 23 x 2BR/1BA, 9 x 2BR/2BA, 1 x 3BR/1BA, 1 x 3BR/2BA
Multifamily Units
189
Additional Details
Highway Access
Yes
Amenities
pool
lake
189-Unit Community Across 28 Buildings On 18.81 Acres
Low-Density Setting Featuring An On-Site Lake And Swimming Pool
1988 Construction With Pitched Shingle Roofs
Diverse Unit Mix Of 1-, 2-, And 3-Bedroom Floorplans
Central Broward County Location With Convenient Access To Florida's Turnpike, Sawgrass Expressway, And Major Employment Corridors
Building Details
Building Size
120,232 SF
Year Built
1988
Buildings
28
Units
189
Listing Agency:
Fort Lauderdale Office
Listed By:
Daniel Cunningham · License #License(s): FL: SL3234051
(954) 245-3584
Source:
Marcusmillichap
Added: Sep 12
Changed: Oct 26
Last Checked: Oct 28 at 5:52AM
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 Fort Lauderdale Office
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Investment Insights
Based on property information with market context.
This 189-unit apartment community was built in 1988 and is arranged across 28 buildings totaling 120,232 gross square feet on 18.81 acres. Improvements include Cardinal construction, pitched shingle roofs, wall-unit air conditioning, an on-site swimming pool, and a lake. The unit mix is led by one-bedroom residences, with additional two- and three-bedroom layouts.
The property is in Margate, Florida, with access to State Road 7, Atlantic Boulevard, Florida’s Turnpike, and the Sawgrass Expressway. Surrounding areas include established residential neighborhoods, with employment, retail, dining, schools, and recreational amenities throughout Margate, Coconut Creek, Coral Springs, and Pompano Beach.
The property is in Margate, Florida, with access to State Road 7, Atlantic Boulevard, Florida’s Turnpike, and the Sawgrass Expressway. Surrounding areas include established residential neighborhoods, with employment, retail, dining, schools, and recreational amenities throughout Margate, Coconut Creek, Coral Springs, and Pompano Beach.
Key Highlights
- 189 units across 28 buildings
- 120,232 gross square feet on an 18.81‑acre site
- Unit mix includes 155 one‑bedroom, 32 two‑bedroom, and 2 three‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,849,086
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$36,981,720
$37.0M
Cap Rate 7%
$26,415,514
$26.4M
Cap Rate 9%
$20,545,400
$20.5M
Market Conditions
NOI Build-Up for 120,232 SF
Gross rent
$3.52M $29.28/SF
− Vacancy
−$158.4K −$1.32/SF
EGI
$3.36M $27.96/SF
− OpEx
−$1.51M −$12.58/SF
NOI
$1.85M $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 Rate 5%
$36,981,720
Cap Rate 7%
$26,415,514
Cap Rate 9%
$20,545,400
Alternative Uses
Best Use
Apartment 5plus
$26.42M
$23.11M – $30.82M
NOI $1,849,086 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$61.00M
$53.37M – $71.17M
NOI $4,269,913 @ 7.0% cap · market cap 14.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
189
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
Explore this area
Business Placement
Demographics for 33068, FL
53,137
Population
19,760
Households
2.7
Avg Household Size
35
Median Age
21%
College-Educated
83%
High-School Grad
6.4 sq mi
ZIP Area
8,303
Density / Sq Mi
$63,688
Median Household Income
$33,524
Median Earnings
$1,893
Median Rent
$288,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily community with a swimming pool, lake, varied floorplans, and access to major Broward County corridors.
Where is this apartment building located?
The property is located at 5451 SW 11th St Margate, FL.
What is the asking price?
The asking price for this property is $29,500,000.
What are key features of this property?
This property features: 189 units across 28 buildings; 120,232 gross square feet on an 18.81‑acre site; Unit mix includes 155 one‑bedroom, 32 two‑bedroom, and 2 three‑bedroom units
