Two-Building Residential Income
129-131 Se 5th St, Hallandale Beach, FL 33009
For Sale
$2,600,000
The front structure is occupied month to month, while the second is presented for assisted living or other specialized residential use.
Property Size13,988 SF
Price / SF$185.85
Days on Market8
Property Features for 129-131 Se 5th St
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
Tile
true
14
1/4 to 1/2 Acre Lot
8
false
13988
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
(800) 326-2567
Listed By:
Michael Major · License #BK3263112
(954) 642-4235
Source:
Majorrealestate
Added: Oct 30
Changed: Nov 6
Last Checked: Nov 6 at 2:46PM
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 Michael Major
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This residential income property comprises two separate buildings and was built in 1977. The front building has a month-to-month occupant; the described conversion plan would configure it as four units: two with 2 bedrooms and 2 baths, and two with 1 bedroom and 1 bath. The second building is identified for assisted living facility operations or other specialized residential uses.
The property is on SE 5th Street in Hallandale Beach, east of Gulfstream Park and across from a YMCA facility. Zoning is designated CENTRAL.
The property is on SE 5th Street in Hallandale Beach, east of Gulfstream Park and across from a YMCA facility. Zoning is designated CENTRAL.
Key Highlights
- Two separate buildings on SE 5th Street
- Front building occupied month to month
- Proposed front‑building configuration: two 2‑bedroom/2‑bath units and two 1‑bedroom/1‑bath units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$215,157
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,303,140
$4.3M
Cap Rate 7%
$3,073,671
$3.1M
Cap Rate 9%
$2,390,633
$2.4M
Market Conditions
NOI Build-Up for 13,990 SF
Gross rent
$409.6K $29.28/SF
− Vacancy
−$18.4K −$1.32/SF
EGI
$391.2K $27.96/SF
− OpEx
−$176.0K −$12.58/SF
NOI
$215.2K $15.38/SF
Area
Broward County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,303,140
Cap Rate 7%
$3,073,671
Cap Rate 9%
$2,390,633
Alternative Uses
Best Use
Apartment 5plus
$3.07M
$2.69M – $3.59M
NOI $215,157 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.10M
$6.21M – $8.28M
NOI $496,840 @ 7.0% cap · market cap 19.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
2,533
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
$248,300
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Hallandale Beach, FL
Properties on Market for Residential income properties in Hallandale Beach
Frequently Asked Questions
What type of property is this?
Residential income property - The front structure is occupied month to month, while the second is presented for assisted living or other specialized residential use.
Where is this residential income property located?
The property is located at 129-131 Se 5th St Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Two separate buildings on SE 5th Street; Front building occupied month to month; Proposed front‑building configuration: two 2‑bedroom/2‑bath units and two 1‑bedroom/1‑bath units
