Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Hallandale Beach Multifamily Redevelopment Opportunity Title is generated by Realmo AI

    705-713 NE 3rd St, Hallandale Beach, FL 33009

    View on Map
    Claim this Listing
    New
    For Sale
    $1,950,000

    Multi Family - Hallandale Beach, FL

    Type:Single Family Attached
    Lot size:
    0.31 Acres
    Added:
    May 29, 2026
    Days on Market:
    1
    Last Refresh:
    May 29 at 8:06 pm

    Property Features for 705-713 NE 3rd St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Single Family Attached
    Zoning
    CENTRAL
    Standard status
    Active
    APN
    514222130120
    Lot size
    0.31 Acres

    Taxes and HOA fees

    Tax Annual Amount
    24519

    Building Details

    Year built
    1951
    Number of units
    9
    Architectural style
    Other

    We can help!

    Listing Contact
    David Heinrich

    Listing agent David Heinrich License #3187652

    Listing office The Keyes Company 2822 NE 187th Street, Miami, FL

    Listing date May 29, 2026

    MLS# A12003925 Listing URL

    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.

    HighLights

    • Significant value‑add opportunity through below‑market rents and potential rent increases.
    • Large 13,430 SF lot (0.31 acres) offers future redevelopment potential, possibly a 5‑story multifamily building.
    • Located in a prime rental corridor with strong demand.
    • Recent improvements include impact windows and a new roof installed in 2018.
    • Nine apartment units provide immediate income while planning future redevelopment.
    • Nine assigned parking spaces.

    Overview

    This multifamily property features 9 apartment units situated on an oversized 13,430 square foot lot, offering a value-add opportunity. The property has recent improvements, including impact windows and a new roof completed in 2018. Interior finishes consist of vinyl and tile flooring throughout the units. Cooling is provided by split A/C systems in 2 units and window A/C units in the remaining 7 units. There are 9 assigned parking spaces. Current rents are below market value, presenting an opportunity for increased income. The property's zoning may allow for the development of a new 5-story multifamily building with up to 15.42 units and approximately 8,774 square feet of building area. Located in a prime rental corridor, the property offers strong demand fundamentals and future redevelopment options. The property is located in Hallandale Beach, Florida, in Broward County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Hallandale Beach
    County
    Broward
    State
    Florida
    Longitude
    -80.1469
    Latitude
    25.9859

    Nearby Similar for Sale

    • $2,000,000
      5,260 SF

      Hallandale Beach Fourplex Investment Opportunity

      Two duplexes near the beach, ideal for short-term rentals.
      806 NE 6th St, Hallandale Beach, FL 33009
      View Details
    • $1,399,000
      1,364 SF

      Hallandale Beach Drive-Thru Opportunity

      High-visibility retail/convenience store site with drive-thru near Aventura.
      900 Old Federal Hwy, Hallandale Beach, FL 33009
      View Details
    • $1,050,000

      Hallandale Beach Medical/Professional Office

      New Class A building, ideal for medical or professional use.
      800 N Federal Hwy, Hallandale Beach, FL 33009
      View Details
    • $1,153,900

      Hallandale Beach Office Ownership Opportunity

      Eight-story office building with wellness-inspired amenities in Hallandale Beach.
      400 W Hallandale Beach Blvd, Hallandale Beach, FL 33009
      View Details
    • $1,192,900

      Hallandale Beach Office Ownership Opportunity

      Eight-story office building with wellness-inspired amenities in Hallandale Beach.
      400 W Hallandale Beach Blvd, Hallandale Beach, FL 33009
      View Details
    • $718,900

      Hallandale Beach Office Ownership Opportunity

      Eight-story office building with wellness-inspired amenities in Hallandale Beach.
      400 W Hallandale Beach Blvd, Hallandale Beach, FL 33009
      View Details
    • $1,384,365
      110,000 SF

      Hallandale Beach Commercial Space

      Class A commercial space in mixed-use development, prime location.
      800 N Federal Hwy, Hallandale Beach, FL 33009
      View Details
    • $1,551,305
      110,000 SF

      Hallandale Beach Commercial Space

      Class A commercial space in a vibrant mixed-use development.
      800 N Federal Hwy, Hallandale Beach, FL 33009
      View Details
    • $689,715
      110,000 SF

      Hallandale Beach Commercial Space

      Class A commercial space in a vibrant mixed-use development.
      800 N Federal Hwy, Hallandale Beach, FL 33009
      View Details
    • $3,012,990
      110,000 SF

      Hallandale Beach Class A Office

      Class A commercial space in a vibrant mixed-use development.
      800 N Federal Hwy, Hallandale Beach, FL 33009
      View Details
    • $1,497,000

      Hallandale Beach Multifamily Investment

      Well-maintained 6-unit property in a prime location.
      923 SE 2nd Ave, Hallandale Beach, FL 33009
      View Details
    • $424,900

      Hallandale Beach Office Ownership Opportunity

      Refined office ownership with wellness amenities in Hallandale Beach.
      400 W Hallandale Beach Blvd, Hallandale Beach, FL 33009
      View Details

    FAQs

    What type of property is this?
    Apartment building - Value-add multifamily property with redevelopment potential in prime location.
    Where is this apartment building located?
    The property is located at 705-713 NE 3rd St Hallandale Beach, FL.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: Significant value‑add opportunity through below‑market rents and potential rent increases.; Large 13,430 SF lot (0.31 acres) offers future redevelopment potential, possibly a 5‑story multifamily building.; Located in a prime rental corridor with strong demand.
    (800) 438-3973
    We can help!
    Listing Contact
    David Heinrich
    Real Estate License ID: 3187652
    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.
    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

    Thank You for Inquiry
    705-713 NE 3rd St, Hallandale Beach, FL 33009
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!