3-Unit Corner
For Sale
$615,000
1041 Nw 7th Ter, Hallandale, FL 33009
Fully leased property with private laundry rooms, individual wall A/C, and a two-bedroom plus one-bedroom unit mix.
Property Size1,534 SF
Price / SF$400.91
Days on Market34
Property Features for 1041 Nw 7th Ter
General Information
Standard status
Active
Size
1,534 SF
Property subtype
Residential Income
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
with TLC
Units
Unit Mix
1 x 2BR/1BA, 2 x 1BR
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,871
Amenities
private laundry
Listing Agency:
Echo International Realty, LLC.
(954) 649-3604
Listed By:
Gianni Charry
(954) 654-0494
Source:
Exprealty
Added: Aug 13
Changed: Sep 12
Last Checked: Sep 14 at 10:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Echo International Realty, LLC.
Investment Insights
Based on property information with market context.
This three-unit multifamily property is arranged as one two-bedroom, one-bath unit and two one-bedroom units. Each residence includes a private stackable laundry room, wall A/C in every room, a full-size refrigerator, and a compact stove/oven. The building has a 10-year-old roof and is currently fully leased.
Ownership covers water, sewer, trash, and lawn care. Positioned near the highway and US-1 in Hallandale, the property offers convenient commuting access and is approximately 15 minutes from the beach. The corner-building configuration and established occupancy provide a straightforward multifamily profile for continued rental operation.
Ownership covers water, sewer, trash, and lawn care. Positioned near the highway and US-1 in Hallandale, the property offers convenient commuting access and is approximately 15 minutes from the beach. The corner-building configuration and established occupancy provide a straightforward multifamily profile for continued rental operation.
Key Highlights
- 3 total units: one 2/1 and two 1‑bedroom units
- 10 yr old roof
- Each unit has a private stackable laundry room
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
$25,571
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
4.16%
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%
$511,420
$511.4K
Cap Rate 7%
$365,300
$365.3K
Cap Rate 9%
$284,122
$284.1K
Market Conditions
NOI Build-Up for 1,534 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
$38.7K $25.20/SF
− Vacancy
−$2.1K −$1.39/SF
EGI
$36.5K $23.81/SF
− OpEx
−$11.0K −$7.14/SF
NOI
$25.6K $16.67/SF
Area
Broward County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$511,420
Cap Rate 7%
$365,300
Cap Rate 9%
$284,122
Alternative Uses
Best Use
Multifamily LT 5
$365.3K
$319.6K – $426.2K
NOI $25,571 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$337.0K
$294.9K – $393.2K
NOI $23,592 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$778.3K
$681.0K – $908.0K
NOI $54,478 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,041
Businesses Nearby
Explore this area
Business Placement
Demographics for 33009, FL
43,301
Population
31,020
Households
1.4
Avg Household Size
47
Median Age
36%
College-Educated
88%
High-School Grad
4.9 sq mi
ZIP Area
8,837
Density / Sq Mi
$48,196
Median Household Income
$33,928
Median Earnings
$1,576
Median Rent
$248,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully leased property with private laundry rooms, individual wall A/C, and a two-bedroom plus one-bedroom unit mix.
Where is this triplex located?
The property is located at 1041 Nw 7th Ter Hallandale, FL.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: 3 total units: one 2/1 and two 1‑bedroom units; 10 yr old roof; Each unit has a private stackable laundry room
