Building Details

Year Renovated 2024

Buildings 1

Listing Agency: LPT Realty, LLC f***@lptrealty.com Show Phone

Listed By: Janet Gonzalez Hall · License #3348142 Show Phone

Source: Exprealty

Added: Aug 10 Changed: Sep 10 Last Checked: Sep 11 at 5:01PM

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Investment Insights

Based on property information with market context.

This remodeled fourplex contains four matching one-bedroom units with furnishings, central A/C, impact windows and doors, contemporary finishes, and open layouts. The property measures 2,151 square feet and includes a newer roof, fresh paint, landscaping, and on-site laundry. Separate electric and water meters serve the units, while new electric panels were installed under permit in connection with the 2024 renovation.

The corner-lot property is located at 412 NE 4th St in Hallandale, Florida. The site provides eight parking spaces and is positioned 4 minutes from Gulfstream Park, 6 minutes from Hollywood Beach, 8 minutes from Aventura Mall, 10 minutes from I-95, and 15 minutes from Fort Lauderdale–Hollywood International Airport. The fourplex layout supports either short-term vacation rentals or long-term leasing.

Key Highlights

• Fourplex with four identical 1/1 units
• 2,151 square feet; remodeled in 2024
• Furnished units with central A/C and impact windows and doors

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

$35,857

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

3.00%

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%

$717,140 $717.1K

Cap Rate 7%

$512,243 $512.2K

Cap Rate 9%

$398,411 $398.4K

Market Conditions

NOI Build-Up for 2,151 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

$54.2K $25.20/SF

− Vacancy

−$3.0K −$1.39/SF

EGI

$51.2K $23.81/SF

− OpEx

−$15.4K −$7.14/SF

NOI

$35.9K $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%

$717,140

Cap Rate 7%

$512,243

Cap Rate 9%

$398,411

Alternative Uses

Best Use

Multifamily LT 5

$512.2K

$448.2K – $597.6K (±1% cap)

NOI $35,857 @ 7.0% cap · market cap 3.00%

Second Best

Apartment 5plus

$472.6K

$413.5K – $551.4K (±1% cap)

NOI $33,081 @ 7.0% cap · market cap 2.77%

Theoretical Best

Office A

$1.09M

$954.9K – $1.27M (±1% cap)

NOI $76,391 @ 7.0% cap · market cap 6.39%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Quadplexes

Suggested Use

Top Pick Dental Office Law Firm Acupuncture (Bike/Boat/Book/etc) Store Accounting Firm Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

1,376

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Quadplex - Four matching one-bedroom units include central air, impact windows and doors, and on-site laundry.

Where is this quadplex located?

The property is located at 412 Ne 4th St Hallandale, FL.

What is the asking price?

The asking price for this property is $1,195,000.

What are key features of this property?

This property features: Fourplex with four identical 1/1 units; 2,151 square feet; remodeled in 2024; Furnished units with central A/C and impact windows and doors