Duplex With Detached
For Sale
$625,000
2647 PIERCE Street, Hollywood, FL 33020
Two residences offer separate living arrangements, central air, and flexible month-to-month occupancy.
Property Size1,619 SF
Price / SF$392.83
Days on Market9
Property Features for 2647 PIERCE Street
General Information
Standard status
Active
Size
1,619 SF
Total Parking Spaces
10
Property subtype
Residential Income
Zoning
RM-18
Units
Unit Mix
2/1.5, 1/1
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,272
Amenities
central air
Building Details
Building Size
1,619 SF
Year Built
1951
Stories
1
Listing Agency:
The Keyes Company
(954) 292-1303
Listed By:
Steven Feldman · License #0648958
(954) 292-1303
Source:
Laerrealty
Added: Aug 20
Changed: Aug 23
Last Checked: Aug 26 at 5:46AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This multifamily property includes a primary 2-bedroom, 1.5-bath residence and a detached 1-bedroom, 1-bath unit. The improvements total 1,591 square feet and include central air in both residences. An attached one-car garage is also part of the property.
The property is located at 2647 Pierce Street in Hollywood, Florida, and carries RM-18 zoning. On-site parking is reported at approximately 9–12 spaces. Tenancies are month to month, providing the current occupancy structure without long-term lease commitments. Built in 1951, the property offers two existing residential units on one parcel.
The property is located at 2647 Pierce Street in Hollywood, Florida, and carries RM-18 zoning. On-site parking is reported at approximately 9–12 spaces. Tenancies are month to month, providing the current occupancy structure without long-term lease commitments. Built in 1951, the property offers two existing residential units on one parcel.
Key Highlights
- 2‑bedroom, 1.5‑bath primary residence plus detached 1‑bedroom, 1‑bath unit
- 1,591 square feet of total property size
- Approximately 9–12 parking spaces
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
$28,506
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
4.56%
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%
$570,120
$570.1K
Cap Rate 7%
$407,229
$407.2K
Cap Rate 9%
$316,733
$316.7K
Market Conditions
NOI Build-Up for 1,591 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
$43.0K $27.00/SF
− Vacancy
−$2.2K −$1.40/SF
EGI
$40.7K $25.60/SF
− OpEx
−$12.2K −$7.68/SF
NOI
$28.5K $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%
$570,120
Cap Rate 7%
$407,229
Cap Rate 9%
$316,733
Alternative Uses
Best Use
Multifamily LT 5
$407.2K
$356.3K – $475.1K
NOI $28,506 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$378.8K
$331.5K – $442.0K
NOI $26,519 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$622.4K
$544.6K – $726.1K
NOI $43,568 @ 7.0% cap · market cap 6.97%
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
2,286
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 - Two residences offer separate living arrangements, central air, and flexible month-to-month occupancy.
Where is this duplex located?
The property is located at 2647 PIERCE Street Hollywood, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2‑bedroom, 1.5‑bath primary residence plus detached 1‑bedroom, 1‑bath unit; 1,591 square feet of total property size; Approximately 9–12 parking spaces
