Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2601 56Th Ave Lauderhill, FL 33313

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2601 56Th Ave Lauderhill, FL 33313

    View on Map
    • Apartment buildings
    • 179,231 SF
    • 5.56 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 2601 56Th Ave

    Year built
    1978
    Lot size
    5.56 lot acres
    Property size
    179,231 SF
    Property type
    Apartment buildings

    Description

    This exceptional 192-unit apartment community in Lauderhill, Florida, presents a compelling value-add investment opportunity. Priced at $45,900,000 ($239,062.50 per unit), this fee-simple property boasts a 5.38% cap rate and a strong NOI of $2,468,468. The property comprises two buildings (a 5-story and a 6-story structure) totaling 179,231 square feet, with 152,730 square feet of net rentable space. Built in 1978 and 1981, the property underwent extensive renovations in 2023/2024, including new roofs, impact windows and doors, railings, electrical panels, and exterior repairs. Interior renovations included updated kitchens and bathrooms, flooring, appliances, and HVAC systems in occupied units. The property features 192 units (a mix of one- and two-bedroom layouts), with an 80% occupancy rate as of January 1, 2024. Amenities include ample parking (1.42 spaces per unit) and a convenient location near major thoroughfares (Florida Turnpike, I-95, State Road 7), airports, and employment centers, including the Hard Rock Hotel and Casino. The property sits on a 5.56-acre lot and is within walking distance of Lauderhill City Hall. The current rent range is $1600-$1900, with several units under construction expected to increase occupancy and revenue. This property offers significant upside potential through continued lease-up and potential rent increases. The property is located at 2601 and 2611 NW 56th Ave, Lauderhill, FL 33313.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lauderhill
    County
    Broward
    State
    Florida
    Longitude
    -80.2276
    Latitude
    26.1593

    Comparable in this City

    • Value Estimation by Request
      3,744 SF

      5401 22Nd St

      Multifamily properties • 3,744 SF
      5401 22Nd St, Lauderhill, FL 33313
      View Details
    • Value Estimation by Request

      5221 15Th Ct

      Multifamily properties
      5221 15Th Ct, Lauderhill, FL 33313
      View Details
    • Value Estimation by Request

      5308-5312 18Th Pl

      Multifamily properties
      5308-5312 18Th Pl, Lauderhill, FL 33313
      View Details
    • Value Estimation by Request

      1840 52Nd Ave

      Multifamily properties
      1840 52Nd Ave, Lauderhill, FL 33313
      View Details
    • Value Estimation by Request

      1910 60Th Ave

      Multifamily properties
      1910 60Th Ave, Sunrise, FL 33313
      View Details
    • Value Estimation by Request
      13,800 SF

      4321 19Th St

      Multifamily properties • 13,800 SF
      4321 19Th St, Lauderhill, FL 33313
      View Details

    Similar Nearby for Sale

    • $1,725,000

      Lauderdale By The Sea Complex

      Five-unit complex near the beach with development potential.
      4548 N Ocean Blvd, Fort Lauderdale, FL 33313
      View Details
    • $1,725,000
      1,150 SF

      Lauderdale-By-The-Sea Multifamily Complex

      Five-unit complex near the beach with revenue potential.
      4548 N Ocean Blvd, Lauderdale by the Sea, FL 33313
      View Details
    • Contact for pricing
      1,942 SF

      Duplex with Fruit Trees

      Duplex featuring two units, each with two bedrooms.
      5441 NW 17Th Ct, Lauderhill, FL 33313
      View Details
    • $890,000

      Lauderhill Triplex Investment Opportunity

      Single-story triplex with strong rental income potential in Lauderhill, Florida.
      2761 NW 58Th Ter, Lauderhill, FL 33313
      View Details
    • $890,000

      Lauderhill Triplex Investment Opportunity

      Single-story triplex with strong rental income potential in Lauderhill, Florida.
      2767 NW 58Th Ter, Lauderhill, FL 33313
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2601 56Th Ave
    Lauderhill, FL 33313
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!