Listed by eXp Realty
$2,500,000
602 NW 1st Street
Details
APN 504234012430
Property Type Mixed Use, Multifamily
Sub Type Apartment Building, Convenience Store
Square Footage 5,016
Net Rentable (SqFt) 5,016
Units 13
Cap Rate 3.92%
NOI $98,000
Occupancy 100%
Price per SqFt $498
Broker Co-Op Yes
Class B
Year Built 1958
Buildings 1
Stories 2
Lot Size (SqFt) 10,850
Zoning NBHD-MU
Investment Type Redevelopment
• 100% Occupied Mixed-Use Asset | Redevelopment Opportunity | Adjacent Lot Included
Marketing description
Prime Mixed-Use Redevelopment Retail + Residential Vertical Build 4 stories. Building has 9 residential units with 4 retail units sold with adjacent lot. Opportunity Zone Investment Opportunity Zone tax advantages Value-add repositioning potential Strong rental demand corridor Walkable urban redevelopment area. Close to US-1, Airport, Dania Pointe, new hotels. Major apartment development happening in this area. Brand new multi sports complex and park close to Broward Sheriff Office and City Hall... Be a part of this tremendous growth potential.
Investment highlights
🔑 Investment Highlights
- 100% Occupied Mixed-Use Asset
- Stable in-place income from 9 residential units + 3 leased retail spaces
- Additional Upside – Owner Occupied Retail Bay
- One commercial unit (602) provides immediate lease-up opportunity to increase NOI
- Redevelopment Opportunity (NBHD-MU Zoning)
- Flexible Neighborhood Mixed-Use zoning allows for higher density, mixed-use redevelopment, or repositioning
- Adjacent Lot Included in Sale
- Rare opportunity to control additional land for expansion, parking, or ground-up development
- Value-Add Through Rent Increases
- Current rents appear below market, providing clear path to increase cash flow and improve cap rate
- Diversified Income Stream
- Combination of residential + retail tenants reduces risk and enhances long-term stability
- Located in Growth & Redevelopment Corridor
- Positioned in an emerging Dania Beach submarket with ongoing development and revitalization
- Strong Demand for Workforce Housing
- 1–2 bedroom units in this price range remain highly desirable and consistently occupied
- Investor / Developer Play
- Ideal for:
- Buy & hold investors (cash flow + appreciation)
- Value-add operators (increase rents + stabilize)
- Developers (land assemblage + future build)
- Income + Land Play Combination
- Rare opportunity to acquire a cash-flowing asset with future development upside
Listing Contacts
Listed by eXp Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$98,000.00
$8,166.67/mo
Valuation Metrics
0
DSCR
3.92%
Cap Rate
3.92%
ROI
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