Three-Unit Retail
For Sale
$895,000
5720 W Hallandale Beach Blvd, West Park, FL 33023
Commercial Sale, West Park, FL
Property Size1,500 SF
Lot Size0.17 Acres
Price / SF$596.67
Days on Market50
Property Features for 5720 W Hallandale Beach Blvd
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
TOC 2
Subdivision
3513
Standard status
Active
APN
514125060630
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
MIAMI GARDENS ESTATES SEC 3 FIRST ADD 27-8 B LOT 1 BLK 23
Tax Annual Amount
5585
Legal Description
MIAMI GARDENS ESTATES SEC 3 FIRST ADD 27-8 B LOT 1 BLK 23
Building Details
Year built
1951
Listing Agency:
The Keyes Company
(305) 931-8920
Listed By:
David Heinrich · License #3187652
(305) 926-3106
Added: Jul 12
Changed: Aug 19
Last Checked: Aug 30 at 12:06AM
MLS# A12050710
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail property contains three separate units within approximately 1,500 SF of recently renovated retail and office space. Two units are leased, while the third is occupied by the owner and can remain in use or be leased. The building was constructed in 1951 and includes 13 dedicated on-site parking spaces, with additional street parking available.
Located at 5720 W Hallandale Beach Blvd in West Park, the property offers direct access and egress from major roadways. Its commercial-corridor setting includes prominent frontage and on-site marquee signage. Hallandale Beach is minutes away, and the property is positioned within the West Park area of Broward County.
Located at 5720 W Hallandale Beach Blvd in West Park, the property offers direct access and egress from major roadways. Its commercial-corridor setting includes prominent frontage and on-site marquee signage. Hallandale Beach is minutes away, and the property is positioned within the West Park area of Broward County.
Key Highlights
- Three retail units within approximately 1,500 SF of renovated retail/office space
- Two units are leased; one unit is owner‑occupied and available for continued use or leasing
- 13 dedicated on‑site parking spaces plus additional street parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,364
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$507,280
$507.3K
Cap Rate 7%
$362,343
$362.3K
Cap Rate 9%
$281,822
$281.8K
Market Conditions
NOI Build-Up for 1,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$39.6K $26.40/SF
− Vacancy
−$3.4K −$2.24/SF
EGI
$36.2K $24.16/SF
− OpEx
−$10.9K −$7.25/SF
NOI
$25.4K $16.91/SF
Area
Broward County, FL
Vacancy
8.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$507,280
Cap Rate 7%
$362,343
Cap Rate 9%
$281,822
Alternative Uses
Best Use
Retail
$362.3K
$317.1K – $422.7K
NOI $25,364 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$761.0K
$665.9K – $887.9K
NOI $53,271 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,954
Businesses Nearby
Explore this area
Business Placement
Demographics for 33023, FL
66,749
Population
22,450
Households
3
Avg Household Size
38
Median Age
20%
College-Educated
84%
High-School Grad
8.8 sq mi
ZIP Area
7,585
Density / Sq Mi
$70,003
Median Household Income
$35,093
Median Earnings
$1,621
Median Rent
$344,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Recently renovated commercial space includes dedicated parking and prominent roadside signage.
Where is this retail space located?
The property is located at 5720 W Hallandale Beach Blvd West Park, FL.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Three retail units within approximately 1,500 SF of renovated retail/office space; Two units are leased; one unit is owner‑occupied and available for continued use or leasing; 13 dedicated on‑site parking spaces plus additional street parking
