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    602 1St St Dania Beach, FL 33004

    Sponsored
    For Sale
    $1,499,000

    High-yield multi-unit property in Dania Beach, FL

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional investment opportunity presents a mixed-use building located at 602 NW 1st Street, Dania Beach, Florida, 33004. Built in 1958, the property boasts a diverse income stream generated from a combination of commercial and residential units. The ground floor comprises four metered retail spaces, each currently generating rental income. Specifically, units 604, 606, and 608 each command a monthly rent of $900, while unit 602 is owner-occupied. The second floor features nine residential units, providing additional rental income. Rental rates for these units vary, ranging from $750 to $1,400 per month. The property benefits from on-site management, simplifying operations and maximizing efficiency. The asking price for this hands-on managed property is $1,499,000. While the lot size is not specified, the building's strong rental income and diverse tenant base make it an attractive investment prospect in the thriving Dania Beach market. This property offers a unique blend of commercial and residential income streams, presenting a compelling opportunity for investors seeking a stable and potentially high-yielding asset. The property's location in Dania Beach, Florida provides convenient access to local amenities and transportation networks.

    Property Features for 602 1St St

    General Information

    Property type
    Office Properties & Spaces

    Building Details

    Year Built
    1958
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Gym & Fitness Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dania Beach
    County
    Broward
    State
    Florida
    Longitude
    -80.1478603
    Latitude
    26.0537663

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    FAQs

    What type of property is this?
    Office Property / Space - High-yield multi-unit property in Dania Beach, FL
    Where is this office property / space located?
    The property is located at 602 1St St Dania Beach, FL.
    What is the asking price?
    The asking price for this property is $1,499,000.
    Request Owner's contact information
    602 1St St Dania Beach, FL 33004
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    Dania Beach, FL 33004
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    602 1St St Dania Beach, FL 33004
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