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    1133 2Nd St Fort Lauderdale, FL 33311

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    1133 2Nd St Fort Lauderdale, FL 33311

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    • Small apartment buildings
    • 1,670 SF
    Off-Market
    Property ID
    US19-0149477
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 1133 2Nd St

    Year built
    2024
    Property size
    1,670 SF
    Property type
    Small apartment buildings
    APN
    504204010550

    Description

    This exceptional 2-unit apartment building presents a lucrative investment opportunity in the desirable Fort Lauderdale, Florida market. Completed in 2024, this Class A property boasts a total of 1,670 square feet, with each unit offering 1,600 square feet of climate-controlled living space. Both units feature a spacious open floor plan, neutral tile flooring throughout, modern kitchens equipped with stainless steel appliances and granite countertops, and impact-resistant windows and doors for enhanced security and energy efficiency. Each unit includes 4 bedrooms and 3 full bathrooms, providing ample space for residents. Additional features include a carport, individual laundry rooms, a paved driveway, and separate electricity and water meters for each unit, simplifying management and utility billing. The property is conveniently located near I-95, providing easy access to downtown Fort Lauderdale and the vibrant Sistrunk neighborhood. The property is zoned RMM 25 and has an APN of 504204010550. This turnkey investment is priced at $995,000, representing a price per square foot of $595.81. The single-story building is situated on a single lot in Broward County, Florida, at 1133 NW 2nd St, Fort Lauderdale, FL 33311. This property offers a compelling combination of modern amenities, prime location, and strong rental potential, making it an ideal addition to any investment portfolio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.15719
    Latitude
    26.124036

    Comparable in this City

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      Fort Lauderdale Multifamily Investment Opportunity

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      Multifamily Investment Opportunity in Fort Lauderdale

      16-unit multifamily property with renovation and income potential.
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      Multifamily Property with Income Potential

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      Fort Lauderdale Multifamily Value-Add

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      2,570 SF

      Multifamily Property Near Downtown

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    Similar Nearby for Sale

    • Contact for pricing
      5,500 SF

      Sistrunk Land with Renovation Potential

      Two buildings with apartments on 21,000 SF land.
      1428-1435 NW 6Th St, Fort Lauderdale, FL 33311
      View Details
    • Contact for pricing

      Fort Lauderdale Multifamily Investment Opportunity

      Remodeled 8-unit multifamily property with redevelopment potential.
      720 Harris Ter, Fort Lauderdale, FL 33311
      View Details
    • Contact for pricing

      Multifamily Investment Opportunity in Fort Lauderdale

      16-unit multifamily property with renovation and income potential.
      1118 NW 31St Ave, Fort Lauderdale, FL 33311
      View Details
    • $2,680,000

      Multifamily Property with Income Potential

      16-unit multifamily property in Fort Lauderdale, Florida.
      821 NW 10Th Ter, Fort Lauderdale, FL 33311
      View Details

    Similar Nearby for Lease

    • $1,800 /Mo

      Charming Apartment Near Las Olas

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      730 NW 4Th Ave, Fort Lauderdale, FL 33311
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      Remodeled Duplex Unit For Rent

      Recently remodeled 2-bedroom unit near Dillard High School.
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      View Details
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    Fort Lauderdale, FL 33311
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    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
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