Ocean View Condo in
For Sale
$395,000
1936 S Ocean Dr 24C, Hallandale Beach, FL 33009
Bright, remodeled 2 bed/2 bath condo with ocean views.
Property Size840 SF
Days on Market258
Property Features for 1936 S Ocean Dr 24C
General Information
Standard status
Active
Size
840 SF
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$3,982
Building Details
Building Size
840 SF
Year Built
1961
Stories
5
Listing Agency:
RE/MAX 5 STAR REALTY
(954) 453-1000
Listed By:
John DeMarco · License #A12040049
(954) 453-1000
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 7
Last Checked: Aug 11 at 11:34AM
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 RE/MAX 5 STAR REALTY
Investment Insights
Based on property information with market context.
This bright and spacious 2 bed / 2 bath unit in Taromina features direct ocean views. The property includes new permitted impact sliding doors, a new HVAC system, and remodeled kitchen and baths. The master bedroom opens to a balcony that offers stunning ocean views. Taromina is a 55+ community with a heated oceanfront pool, a social room, and on-site laundry facilities. This quiet, well-maintained building is located off A1A, near shops, dining, Gulfstream, and FLL Airport. The association owns over 40% of the land.
Key Highlights
- Direct ocean views from a bright and spacious 2 bed / 2 bath unit.
- New permitted impact sliding doors and new HVAC system.
- Remodeled kitchen and baths.
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
$12,919
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
3.27%
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%
$258,380
$258.4K
Cap Rate 7%
$184,557
$184.6K
Cap Rate 9%
$143,544
$143.5K
Market Conditions
NOI Build-Up for 840 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
$24.6K $29.28/SF
− Vacancy
−$1.1K −$1.32/SF
EGI
$23.5K $27.96/SF
− OpEx
−$10.6K −$12.58/SF
NOI
$12.9K $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 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%
$258,380
Cap Rate 7%
$184,557
Cap Rate 9%
$143,544
Alternative Uses
Best Use
Apartment 5plus
$184.6K
$161.5K – $215.3K
NOI $12,919 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$426.2K
$372.9K – $497.2K
NOI $29,832 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Bright, remodeled 2 bed/2 bath condo with ocean views.
Where is this apartment building located?
The property is located at 1936 S Ocean Dr 24C Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Direct ocean views from a bright and spacious 2 bed / 2 bath unit.; New permitted impact sliding doors and new HVAC system.; Remodeled kitchen and baths.
