Renovated Triplex with New
For Sale
$1,180,000
329 SE 2nd St, Hallandale Beach, FL 33009
Residential Income, Hallandale Beach, FL
Property Size2,908 SF
Price / SF$405.78
Days on Market38
Property Features for 329 SE 2nd St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
CENTRAL
Bedrooms
5
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 2
Parking
4
Subdivision
SUB OF E1/2 OF OUT
Lot features
< 1/4 Acre
Standard status
Active
APN
514227020061
Size
2,908 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 6 3-20 B LOT 15
Tax Annual Amount
8916
Legal Description
LOT 6 3-20 B LOT 15
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
in-unit washer/dryer
Building Details
Year built
1978
Floors in Building
1
Flooring type
Laminate
Building materials
Block
Roof type
Shingle
Listing Agency:
Florida Capital Realty
(786) 953-5870
Listed By:
Berlinda Medina · License #3059307
(786) 262-1982
Added: Jul 18
Changed: Aug 19
Last Checked: Aug 24 at 7:06PM
MLS# A12048899
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 triplex is configured as a fully leased multifamily property on a corner lot in Hallandale Beach. The units have undergone substantial renovations, including updated kitchens, impact-resistant windows, and in-unit washers and dryers. Building systems and finishes include block construction, laminate flooring, central heating, central air conditioning, shingle roofing, and public sewer service. The property was built in 1978, and the roof was replaced in 2022.
Access to major local corridors is a notable location feature, with the property positioned one block from US-1 and one block from Hallandale Beach Boulevard. The address is 329 SE 2nd St, Hallandale Beach, FL 33009. Cable service is available at the property.
Access to major local corridors is a notable location feature, with the property positioned one block from US-1 and one block from Hallandale Beach Boulevard. The address is 329 SE 2nd St, Hallandale Beach, FL 33009. Cable service is available at the property.
Key Highlights
- Fully leased triplex on a corner lot
- Renovated units with updated kitchens and impact windows
- In‑unit washers and dryers
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
$48,476
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
4.11%
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%
$969,520
$969.5K
Cap Rate 7%
$692,514
$692.5K
Cap Rate 9%
$538,622
$538.6K
Market Conditions
NOI Build-Up for 2,908 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
$73.3K $25.20/SF
− Vacancy
−$4.0K −$1.39/SF
EGI
$69.3K $23.81/SF
− OpEx
−$20.8K −$7.14/SF
NOI
$48.5K $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%
$969,520
Cap Rate 7%
$692,514
Cap Rate 9%
$538,622
Alternative Uses
Best Use
Multifamily LT 5
$692.5K
$606.0K – $807.9K
NOI $48,476 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$638.9K
$559.0K – $745.4K
NOI $44,723 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,275 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,857
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully leased corner-lot triplex with updated kitchens, impact windows, and in-unit laundry.
Where is this triplex located?
The property is located at 329 SE 2nd St Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: Fully leased triplex on a corner lot; Renovated units with updated kitchens and impact windows; In‑unit washers and dryers
