Single-Story Duplex with Impact
For Sale
Contact for pricing
506 N 56th Ave, Hollywood, FL 33021
Two vacant residential units provide immediate occupancy flexibility for an owner or new leasing strategy.
Property Size1,601 SF
Price / SF$336.66
Days on Market12
Property Features for 506 N 56th Ave
General Information
Standard status
Active
Size
1,601 SF
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
RM-9
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
impact windows
central A/C
Building Details
Year Built
1960
Buildings
1
Stories
1
Listing Agency:
United Realty Group Inc
Listed By:
Yvrose Thomas · License #3354551
(954) 615-2180
Source:
Crexi
Added: Aug 27
Changed: Sep 4
Last Checked: Sep 5 at 5:47PM
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 United Realty Group Inc
Investment Insights
Based on property information with market context.
This single-story duplex in Hollywood, Florida, contains two vacant two-bedroom, one-bath units totaling approximately 1,601 square feet. Built in 1960, the property includes impact windows, central A/C, and approximately four parking spaces. Both residences are available for immediate occupancy, allowing the next owner to establish new leases or use one unit while leasing the other.
The property is situated near shopping centers, restaurants, major roadways, and the Seminole Hard Rock Hotel & Casino. RM-9 zoning supports the property's existing duplex configuration. With no current leases in place, the building offers a straightforward transition for an owner-occupant or residential rental operator.
The property is situated near shopping centers, restaurants, major roadways, and the Seminole Hard Rock Hotel & Casino. RM-9 zoning supports the property's existing duplex configuration. With no current leases in place, the building offers a straightforward transition for an owner-occupant or residential rental operator.
Key Highlights
- Two vacant 2‑bedroom, 1‑bath units
- Approximately 1,601 total square feet
- Single‑story duplex built in 1960
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
$28,685
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
5.32%
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%
$573,700
$573.7K
Cap Rate 7%
$409,786
$409.8K
Cap Rate 9%
$318,722
$318.7K
Market Conditions
NOI Build-Up for 1,601 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
$43.2K $27.00/SF
− Vacancy
−$2.2K −$1.40/SF
EGI
$41.0K $25.60/SF
− OpEx
−$12.3K −$7.68/SF
NOI
$28.7K $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%
$573,700
Cap Rate 7%
$409,786
Cap Rate 9%
$318,722
Alternative Uses
Best Use
Multifamily LT 5
$409.8K
$358.6K – $478.1K
NOI $28,685 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$381.2K
$333.6K – $444.8K
NOI $26,685 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$626.3K
$548.0K – $730.7K
NOI $43,842 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,546
Businesses Nearby
Explore this area
Business Placement
Demographics for 33021, FL
50,091
Population
21,930
Households
2.3
Avg Household Size
43
Median Age
38%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
5,692
Density / Sq Mi
$69,249
Median Household Income
$41,390
Median Earnings
$1,707
Median Rent
$395,800
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?
Duplex - Two vacant residential units provide immediate occupancy flexibility for an owner or new leasing strategy.
Where is this duplex located?
The property is located at 506 N 56th Ave Hollywood, FL.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Two vacant 2‑bedroom, 1‑bath units; Approximately 1,601 total square feet; Single‑story duplex built in 1960
