Two-Building Quadplex
For Sale
$2,600,000
129-131 SE 5th St, Hallandale Beach, FL 33009
Residential Income, Hallandale Beach, FL
Property Size13,990 SF
Price / SF$185.85
Days on Market57
Property Features for 129-131 SE 5th St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
CENTRAL
Bedrooms
14
Full bathrooms
14
Rooms
Bathroom 1, Bedroom 2, Bedroom 5, Bathroom 14, Bathroom 11, Bedroom 8, Bathroom 12, Bathroom 4, Bathroom 7, Bedroom 4, Bedroom 9, Bedroom 14, Bedroom 11, Bedroom 6, Bathroom 6, Bathroom 10, Bathroom 2, Bedroom 13, Bathroom 13, Bathroom 9, Bathroom 8, Bathroom 5, Bathroom 3, Bedroom 7, Bedroom 12, Bedroom 1, Bedroom 3, Bedroom 10
Parking
8
Subdivision
HALLANDALE PARK NO 3
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
514227160560
Size
13,990 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
HALLANDALE PARK NO 3 6-7 B LOTS 38,39 & 40 BLK 3
Tax Annual Amount
23136
Legal Description
HALLANDALE PARK NO 3 6-7 B LOTS 38,39 & 40 BLK 3
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Building Details
Year built
1977
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
The Keyes Company
(305) 595-8166
Listed By:
Karl Fong Yee · License #3519129
(786) 525-1130
Added: Jul 18
Changed: Sep 9
Last Checked: Sep 12 at 9:06AM
MLS# A12035857
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 13,990-square-foot quadplex property contains two separate buildings and was built in 1977. The front structure is occupied under month-to-month arrangements and has been identified for potential reconfiguration into four residential units: two with 2 bedrooms and 2 baths, plus two with 1 bedroom and 1 bath. The second building is configured for assisted living facility operations or other specialized residential applications.
Located at 129-131 SE 5th St in Hallandale Beach, the property sits east of Gulfstream Park and opposite the YMCA facility referenced in the property information. Construction includes block materials, with tile flooring, central heating, central air, ceiling fans, a shingle roof, cable availability, and public sewer service.
Located at 129-131 SE 5th St in Hallandale Beach, the property sits east of Gulfstream Park and opposite the YMCA facility referenced in the property information. Construction includes block materials, with tile flooring, central heating, central air, ceiling fans, a shingle roof, cable availability, and public sewer service.
Key Highlights
- 13,990‑square‑foot property with two separate buildings
- Front building is occupied on a month‑to‑month basis
- Potential four‑unit configuration: two 2‑bedroom/2‑bath units and two 1‑bedroom/1‑bath units
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
$233,211
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
8.97%
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%
$4,664,220
$4.7M
Cap Rate 7%
$3,331,586
$3.3M
Cap Rate 9%
$2,591,233
$2.6M
Market Conditions
NOI Build-Up for 13,990 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
$352.5K $25.20/SF
− Vacancy
−$19.4K −$1.39/SF
EGI
$333.2K $23.81/SF
− OpEx
−$99.9K −$7.14/SF
NOI
$233.2K $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%
$4,664,220
Cap Rate 7%
$3,331,586
Cap Rate 9%
$2,591,233
Alternative Uses
Best Use
Multifamily LT 5
$3.33M
$2.92M – $3.89M
NOI $233,211 @ 7.0% cap · market cap 8.97%
Second Best
Apartment 5plus
$3.07M
$2.69M – $3.59M
NOI $215,157 @ 7.0% cap · market cap 8.28%
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.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,827
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Two structures include a month-to-month occupied building and a second building described as suitable for assisted living operations.
Where is this quadplex 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: 13,990‑square‑foot property with two separate buildings; Front building is occupied on a month‑to‑month basis; Potential four‑unit configuration: two 2‑bedroom/2‑bath units and two 1‑bedroom/1‑bath units
