Mixed-Use Redevelopment
602 NW 1st Street Dania Beach, FL 33004
602 NW 1st Street, Dania Beach, FL, 33004
$2,500,000
For Sale
$2,500,000
Four-story building with nine residential units and four retail units, situated in an Opportunity Zone redevelopment area.
Property Size5,520 SF
Price / SF$452.90
Days on Market133
Property Features for 602 NW 1st Street
General Information
- Standard status
- Active
- Size
- 5,520 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1958
Listing agency
EXP Realty, LLC.
(954) 534-3688
Listed by
Janice Scott · License #3160688
(954) 534-3688
Source
Xome
Added: Mar 11 Updated: Jul 20 at 6:16PM Checked: Jul 21 at 3:02AM
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 EXP Realty, LLC.
Investment Insights
Based on property information with market context.
Located at 602 NW 1st Street in Dania Beach, this mixed-use redevelopment property consists of a four-story building with nine residential units and four retail units. Public remarks indicate that the four retail units were sold with an adjacent lot, while the remaining structure provides a residential component for repositioning.
The property is identified as an Opportunity Zone investment opportunity, and is positioned within a walkable urban redevelopment corridor. Remarks also note proximity to US-1 and the airport, as well as nearby activity including Dania Pointe, new hotels, and ongoing major apartment development in the area.
For investors and operators focused on repositioning, the existing mix of residential and retail elements provides a starting point for value-add redevelopment planning within the Opportunity Zone.
The property is identified as an Opportunity Zone investment opportunity, and is positioned within a walkable urban redevelopment corridor. Remarks also note proximity to US-1 and the airport, as well as nearby activity including Dania Pointe, new hotels, and ongoing major apartment development in the area.
For investors and operators focused on repositioning, the existing mix of residential and retail elements provides a starting point for value-add redevelopment planning within the Opportunity Zone.
Key Highlights
- Four‑story building with 9 residential units and 4 retail units
- Situated in an Opportunity Zone redevelopment area
- Corner lot with shared driveway and 10 parking spaces
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $145.7k | $26.40 |
| − Vacancy | −$12.4k | −$2.24 |
| EGI | $133.3k | $24.16 |
| − OpEx | −$40.0k | −$7.25 |
| NOI | $93.3k | $16.91 |
5,520 SF · lease $26.40/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.33M
$1.17M – $1.56M
NOI $93,339 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,894 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M
NOI $196,037 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Four-story building with nine residential units and four retail units, situated in an Opportunity Zone redevelopment area.
Where is this apartment building located?
The property is located at 602 NW 1st Street Dania Beach, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Four‑story building with 9 residential units and 4 retail units; Situated in an Opportunity Zone redevelopment area; Corner lot with shared driveway and 10 parking spaces
