| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 59th | Good |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 311 E Sheridan St, Dania, FL, 33004, US |
| Region / Metro | Dania |
| Year of Construction | 2001 |
| Units | 48 |
| Transaction Date | 2006-09-05 |
| Transaction Price | $43,730,000 |
| Buyer | PRINCETON ORCHARDS ASSOCIATES LLC |
| Seller | BEACH WALK AT SHERIDAN LP |
311 E Sheridan St Dania Multifamily Investment
Built in 2001, the property sits in a renter-heavy inner suburb with strong daily amenities and comparatively newer stock, according to WDSuite’s CRE market data. Expect demand supported by neighborhood renter concentration and access to groceries/pharmacies, while monitoring local occupancy softness and lease affordability.
The location is an Inner Suburb within the Fort Lauderdale-Pompano Beach-Sunrise metro, rated B- at the neighborhood level. Amenity access is a relative strength: cafes rank in the top percentile nationally, and grocery and pharmacy density track well above national medians, which supports day-to-day convenience and leasing appeal. Parks and full-service restaurants are thinner in the immediate area, so walk-to recreation and dining is more limited.
Rents in the neighborhood benchmark above many areas nationwide, while the neighborhood occupancy rate is lower than a large share of metro peers. For investors, this combination points to pricing power in stronger units and locations, but also underscores the importance of leasing execution and asset differentiation to sustain occupancy.
Tenure patterns indicate depth for multifamily: the neighborhood’s share of renter-occupied housing units is elevated compared with national norms, and within a 3-mile radius renters represent just over half of occupied units. That renter concentration supports a stable tenant base for well-positioned multifamily assets.
Within a 3-mile radius, population has been broadly stable with modest growth, while the household count has increased and is projected to continue rising by 2028. Smaller average household sizes are expected, which typically expands the renter pool and supports occupancy stability for efficiently sized units.
Ownership costs sit in a higher-cost context relative to local incomes (value-to-income ratios skew above national medians). In practice, that sustains reliance on rental housing and can bolster lease retention for competitive communities. At the same time, rent-to-income ratios point to some affordability pressure, so proactive renewal strategies and amenity-value alignment remain important for cash flow durability.
Vintage considerations: the asset’s 2001 construction is newer than the neighborhood average year built (1987). That positioning can help compete against older stock and temper near-term heavy capital needs, while still planning for system renewals and modernization to support rent growth.
Neighborhood safety trends are mixed relative to the Fort Lauderdale-Pompano Beach-Sunrise metro. Based on WDSuite’s CRE market data, the area ranks below the metro median on safety when measured against 345 neighborhoods and falls below the national median on composite crime indicators.
Recent directionality shows some improvement: estimated property offenses have declined year over year, even as violent offense indicators remain less favorable than many U.S. neighborhoods. Investors should underwrite with conservative assumptions and emphasize security, lighting, and on-site management practices that support resident retention.
The employment base nearby includes corporate headquarters and regional offices that support commuter demand and lease retention for workforce and professional renters. Notable employers within a typical commute include AutoNation, Johnson & Johnson, Mosaic, Ryder System, and Tenet Healthcare.
- AutoNation — corporate offices (5.9 miles) — HQ
- Johnson & Johnson — corporate offices (13.4 miles)
- Mosaic — corporate offices (15.4 miles)
- Ryder System — corporate offices (19.2 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — corporate offices (20.5 miles)
311 E Sheridan St offers exposure to a renter-leaning inner suburb with strong everyday amenities and a construction vintage (2001) that is newer than much of the surrounding housing stock. Neighborhood rents benchmark high nationally while occupancy runs softer than many metro areas, suggesting the asset can compete on quality and operations but should emphasize leasing execution and differentiated features. Based on CRE market data from WDSuite, ownership costs relative to incomes point to sustained reliance on rental housing, while 3-mile household growth and shrinking household sizes expand the renter pool.
Key considerations include affordability management (given rent-to-income pressures), neighborhood safety that trails broader benchmarks despite recent property-crime improvement, and limited nearby parks and full-service restaurants. With targeted capital planning and prudent operations, the property is positioned to capture demand from nearby employment centers and amenity-driven renters.
- 2001 vintage competes well versus older local stock; plan system renewals to sustain rentability.
- Elevated renter concentration and strong daily amenities support tenant demand and lease retention.
- Neighborhood rents benchmark high nationally; focus on unit quality and service to maintain occupancy.
- Risks: below-median safety, occupancy softness versus metro, and affordability pressure require conservative underwriting and proactive renewals.