Davie Triplex: Income
For Sale
$899,000
Pending
6590 Southwest 46th Street, Davie, FL 33314
Well-maintained triplex in Davie with long-term tenants and upside potential.
Property Size3,445 SF
Days on Market100
Property Features for 6590 Southwest 46th Street
General Information
Standard status
Pending
Size
3,445 SF
Property subtype
Residential Income / Triplex
Taxes and HOA fees
Annual Taxes
$12,061
Building Details
Year Built
1978
Listing Agency:
Carden Realty & Investment Inc
(305) 466-4500
Listed By:
Bella Carcasses · License #0603893
(305) 466-4500
Source:
Compass
Added: May 24
Changed: Aug 8
Last Checked: Jul 24 at 4:28PM
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 Carden Realty & Investment Inc
Investment Insights
Based on property information with market context.
This well-maintained triplex is located in Davie and features three identical units, each with three bedrooms and two bathrooms. Each unit has tile flooring and central A/C. The property is fully split with three separate electric meters and three separate water meters. All units are occupied by long-term tenants with leases extending into 2026. Current rents are below market value. The property is located near schools, colleges, universities, shopping, dining, worship centers, major highways, the Florida Turnpike, and the Seminole Hard Rock Hotel & Casino. The property size is 3445 square feet. This location supports tenant demand and long-term investment value. It is an opportunity for investors seeking a stable income-producing property with future rental growth potential.
Key Highlights
- Excellent income‑producing triplex in a prime Davie location with strong rental demand.
- Three large, identical 3/2 units, each with tile flooring and central A/C.
- Fully split with three separate electric and water meters, reducing operating expenses.
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
$37,918
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
4.22%
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%
$758,360
$758.4K
Cap Rate 7%
$541,686
$541.7K
Cap Rate 9%
$421,311
$421.3K
Market Conditions
NOI Build-Up for 3,445 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
$55.8K $16.20/SF
− Vacancy
−$1.6K −$0.48/SF
EGI
$54.2K $15.72/SF
− OpEx
−$16.3K −$4.72/SF
NOI
$37.9K $11.01/SF
Area
Davie, FL
Vacancy
2.94%
Lease Rate
$16.20 /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%
$758,360
Cap Rate 7%
$541,686
Cap Rate 9%
$421,311
Alternative Uses
Best Use
Multifamily LT 5
$541.7K
$474.0K – $632.0K
NOI $37,918 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$500.4K
$437.9K – $583.9K
NOI $35,031 @ 7.0% cap · market cap 3.90%
Theoretical Best
Warehouse
$653.2K
$571.5K – $762.0K
NOI $45,721 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,024
Businesses Nearby
Explore this area
Business Placement
Demographics for 33314, FL
30,248
Population
12,041
Households
2.5
Avg Household Size
34
Median Age
30%
College-Educated
89%
High-School Grad
8.8 sq mi
ZIP Area
3,437
Density / Sq Mi
$63,791
Median Household Income
$36,733
Median Earnings
$2,034
Median Rent
$347,600
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?
Triplex - Well-maintained triplex in Davie with long-term tenants and upside potential.
Where is this triplex located?
The property is located at 6590 Southwest 46th Street Davie, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Excellent income‑producing triplex in a prime Davie location with strong rental demand.; Three large, identical 3/2 units, each with tile flooring and central A/C.; Fully split with three separate electric and water meters, reducing operating expenses.
