Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    324 NW 3Rd St Golden Isles, FL 33009

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,400,000

    Turnkey investment property in a rapidly growing rental market.

    Building Details

    Year built
    1964

    We can help!

    Listing Contact
    Alfredo Riascos
    Source: Elliman

    Listing Agent: Alfredo Riascos

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Hallandale Beach Renovated Apartment Building

    Located in Hallandale Beach, Florida, the property at 324 NW 3rd Street presents a fully renovated investment opportunity. The building is 100% occupied and generates a gross annual income of approximately $163,200. The property features upgraded interiors, modern kitchens, and updated fixtures throughout. This asset is positioned for both steady income and long-term appreciation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Golden Isles
    County
    Broward
    State
    Florida
    Longitude
    -80.1469
    Latitude
    25.9859

    Nearby Similar for Sale

    • $680,000

      Hallandale Beach Restaurant Business Opportunity

      Two established restaurant businesses for sale in Hallandale Beach, Florida.
      1955 E Hallandale Beach Blvd, Golden Isles, FL 33009
      View Details
    • $815,000
      3,612 SF

      Hallandale Beach Income Property

      Spacious duplex with strong rental potential in Hallandale Beach.
      117 SW 1St Ave, Golden Isles, FL 33009
      View Details
    • $1,100,000
      3,144 SF

      Hallandale Beach Fourplex East of US-1

      Rare income property near Gulfstream Park and Aventura Mall.
      803 NE 8Th St, Golden Isles, FL 33009
      View Details
    • $1,800,000
      5,260 SF

      Hallandale Beach Investment Opportunity

      Two duplexes near the beach, ideal for short-term or long-term rentals.
      806 NE 6Th St, Golden Isles, FL 33009
      View Details
    • $360,000

      Hallandale Beach Office Condo

      Modern office condo with deeded terrace and great views.
      800 SE 4Th Ave, Golden Isles, FL 33009
      View Details
    • $870,000

      Coffee Roaster Business Opportunity

      Unique coffee roasting technology in Pembroke Park, Florida.
      1805 SW 31St Ave, Golden Isles, FL 33009
      View Details
    • $1,050,000

      Hallandale Beach Medical/Professional Office Space

      New Class A building, ideal for medical or professional use.
      800 N Federal Hwy, Golden Isles, FL 33009
      View Details
    • $1,600,000

      Hallandale Beach Multifamily Investment

      Seven-unit multifamily building in Hallandale Beach, prime investment opportunity.
      101 SE 4Th Ave, Golden Isles, FL 33009
      View Details
    • $1,150,000
      4,797 SF

      Remodeled Fourplex Near Hallandale Beach

      Legal fourplex with remodeled units, great location, and income potential.
      1013 NW 1St Ave, Golden Isles, FL 33009
      View Details
    • $290,000

      Turnkey Medical Spa in Hallandale

      Fully operational medical spa with equipment and established clientele.
      501 Golden Isles Dr, Golden Isles, FL 33009
      View Details
    • $1,497,000
      0.22 Acres

      Hallandale Beach Multifamily Investment

      Well-maintained 6-unit property in a prime location.
      923 SE 2Nd Ave, Golden Isles, FL 33009
      View Details
    • $689,715

      Hallandale Beach Commercial Space For Sale

      Class A commercial space in a vibrant mixed-use development.
      800 N Federal Hwy, Golden Isles, FL 33009
      View Details

    FAQs

    What type of property is this?
    Apartment building - Turnkey investment property in a rapidly growing rental market.
    Where is this apartment building located?
    The property is located at 324 NW 3Rd St Golden Isles, FL.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: - Turnkey investment opportunity with immediate and stable cash flow.; - Fully renovated building with 100% occupancy.; - Generates a gross annual income of approximately $163,200.
    (786) 325-5647
    Request Owner's contact information
    324 NW 3Rd St Golden Isles, FL 33009
    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.
    324 NW 3Rd St
    Golden Isles, FL 33009
    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
    324 NW 3Rd St Golden Isles, FL 33009
    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

    We can help!
    Listing Contact
    Alfredo Riascos
    Real Estate License ID: 3210686
    (786) 325-5647
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.