Approved Mixed-Use Development
For Sale
$9,499,000
228 SE 9th St, Hallandale Beach, FL 33009
Land, Hallandale Beach, FL
Property Size43,125 SF
Lot Size1.00 Acre
Price / SF$220.27
Days on Market94
Property Features for 228 SE 9th St
General Information
Property type
Land
Property subtype
Other
Zoning description
CENTRAL
Subdivision
HALLANDALE PARK
Special listing conditions
Real Estate Owned, In Foreclosure
Standard status
Active
APN
514227140370
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Description
HALLANDALE PARK 5-20 B LOT 4,5,9,10 BLK 6
Tax Annual Amount
18952
Legal Description
HALLANDALE PARK 5-20 B LOT 4,5,9,10 BLK 6
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Listing Agency:
Douglas Elliman
(305) 677-5000
Listed By:
Robert Plotkin · License #3362423
(917) 892-1975
Added: Jun 30
Changed: Sep 14
Last Checked: Oct 1 at 9:06PM
MLS# A12040786
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 one-acre mixed-use development site comprises six folios totaling approximately 43,125 square feet. The property has received full Development Review Committee approval for a project of approximately 78,000 buildable square feet with residential and commercial components. The approved plan allows surface-level parking, providing a parking configuration that does not require structured parking.
The site is designated within an Opportunity Zone and Regional Activity Center, with public water and public sewer available. Its Hallandale Beach location is west of Gulfstream Park, a few blocks north of Aventura Hospital/Medical Center, and near the future Uptown Aventura mixed-use district. The property is offered for outright sale, with potential joint venture consideration by the seller.
The site is designated within an Opportunity Zone and Regional Activity Center, with public water and public sewer available. Its Hallandale Beach location is west of Gulfstream Park, a few blocks north of Aventura Hospital/Medical Center, and near the future Uptown Aventura mixed-use district. The property is offered for outright sale, with potential joint venture consideration by the seller.
Key Highlights
- Full Development Review Committee approval for approximately 78,000 buildable SQ FT
- Six‑folio assemblage totaling approximately 43,125 SF
- 1‑acre mixed‑use development site
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
$743,906
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
7.83%
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%
$14,878,120
$14.9M
Cap Rate 7%
$10,627,229
$10.6M
Cap Rate 9%
$8,265,622
$8.3M
Market Conditions
NOI Build-Up for 43,125 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
$1.29M $30.00/SF
− Vacancy
−$103.5K −$2.40/SF
EGI
$1.19M $27.60/SF
− OpEx
−$446.3K −$10.35/SF
NOI
$743.9K $17.25/SF
Area
Broward County, FL
Vacancy
8.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$14,878,120
Cap Rate 7%
$10,627,229
Cap Rate 9%
$8,265,622
Alternative Uses
Best Use
Mixed Use
$10.63M
$9.30M – $12.40M
NOI $743,906 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$9.47M
$8.29M – $11.05M
NOI $663,233 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$21.88M
$19.14M – $25.53M
NOI $1,531,539 @ 7.0% cap · market cap 16.12%
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
3,357
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Nearly one acre with approved residential and commercial development plans, public water and sewer, and surface parking provisions.
Where is this mixed-use property located?
The property is located at 228 SE 9th St Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $9,499,000.
What are key features of this property?
This property features: Full Development Review Committee approval for approximately 78,000 buildable SQ FT; Six‑folio assemblage totaling approximately 43,125 SF; 1‑acre mixed‑use development site
