Duplex with Two Adjacent
For Sale
$499,000
1932 Dewey Street, Hollywood, FL 33020
Duplex on adjacent lots, zoned PS-1, currently leased for rental income with a development plan concept on file.
Property Size1,468 SF
Lot Size0.25 Acres
Price / SF$339.92
Days on Market67
Property Features for 1932 Dewey Street
General Information
Standard status
Active
Size
1,468 SF
Lot size
0.25 Acres
Property subtype
Duplex
Zoning
PS-1
Additional Details
Multifamily Units
2
Building Details
Year Built
1926
Listing Agency:
Molina Realty
Listed By:
Ekaterina Molina · License #3388141
(917) 675-9832
Source:
Lehmannflorida
Added: Jul 3
Changed: Sep 6
Last Checked: Sep 6 at 7:09AM
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 Molina Realty
Investment Insights
Based on property information with market context.
This offering presents a duplex on two adjacent lots, listed as 1928 and 1932 Dewey Street, with the option to pursue a combined sale. The property is currently improved with a front unit and a rear unit generating rental income under existing leases. The front unit is configured as 2BR/2BA and is leased at $2,000 per month, while the rear unit is 1BR/1BA and is under a long-term lease at $2,100 per month.
The lots are zoned PS-1. An architect’s concept suggests potential for a new residential development of 15–18 units across four stories, with ground-floor parking. The seller indicates the opportunity may be structured as a JV or full sale.
The property is located in Hollywood, Florida, near Downtown and local cafes, and is described as approximately 2 miles from the beach.
The lots are zoned PS-1. An architect’s concept suggests potential for a new residential development of 15–18 units across four stories, with ground-floor parking. The seller indicates the opportunity may be structured as a JV or full sale.
The property is located in Hollywood, Florida, near Downtown and local cafes, and is described as approximately 2 miles from the beach.
Key Highlights
- Year built 1926; duplex on adjacent lots at 1928 & 1932 Dewey St
- Zoned PS‑1 with concept plan (per architect) to build 15–18 residential units across four stories
- Total land area for both lots: 10,836 SF
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
$26,302
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
5.27%
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%
$526,040
$526.0K
Cap Rate 7%
$375,743
$375.7K
Cap Rate 9%
$292,244
$292.2K
Market Conditions
NOI Build-Up for 1,468 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
$39.6K $27.00/SF
− Vacancy
−$2.1K −$1.40/SF
EGI
$37.6K $25.60/SF
− OpEx
−$11.3K −$7.68/SF
NOI
$26.3K $17.92/SF
Area
Hollywood, FL
Vacancy
5.20%
Lease Rate
$27.00 /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%
$526,040
Cap Rate 7%
$375,743
Cap Rate 9%
$292,244
Alternative Uses
Best Use
Multifamily LT 5
$375.7K
$328.8K – $438.4K
NOI $26,302 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$349.6K
$305.9K – $407.8K
NOI $24,469 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$574.3K
$502.5K – $670.0K
NOI $40,200 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,465
Businesses Nearby
Explore this area
Business Placement
Demographics for 33020, FL
45,044
Population
22,508
Households
2
Avg Household Size
41
Median Age
29%
College-Educated
89%
High-School Grad
6.0 sq mi
ZIP Area
7,507
Density / Sq Mi
$52,535
Median Household Income
$32,449
Median Earnings
$1,444
Median Rent
$306,700
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?
Duplex - Duplex on adjacent lots, zoned PS-1, currently leased for rental income with a development plan concept on file.
Where is this duplex located?
The property is located at 1932 Dewey Street Hollywood, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Year built 1926; duplex on adjacent lots at 1928 & 1932 Dewey St; Zoned PS‑1 with concept plan (per architect) to build 15–18 residential units across four stories; Total land area for both lots: 10,836 SF
