Remodeled Duplex With Private
New
For Sale
$1,175,000
5120 NE 22nd Avenue, Lighthouse Point, FL 33064
Two renovated residences offer separate electric meters and flexible layouts on a private corner lot.
Property Size2,779 SF
Price / SF$422.81
Days on Market5
Property Features for 5120 NE 22nd Avenue
General Information
Standard status
Active
Size
2,779 SF
Total Parking Spaces
6
Elevators
No
Property subtype
Residential Income
Zoning
RD-10
Units
Unit Mix
2 bed 2 bath, 3 bed 2 bath
Multifamily Units
2
Additional Details
Furnished
No
Taxes and HOA fees
Annual Taxes
$17,571
Building Details
Building Size
2,779 SF
Year Built
1972
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Premier Listings
(561) 445-9592
Listed By:
Maria M Acosta · License #3129122
(561) 445-9592
Source:
Laerrealty
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 12 at 3:33AM
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 Premier Listings
Investment Insights
Based on property information with market context.
This 2,779-square-foot duplex, built in 1972, contains two renovated residences with separate electric meters and private fenced backyards. Unit A includes 2 bedrooms, 2 bathrooms, a dedicated laundry room, flex room, updated kitchen with custom cabinetry, and a primary suite with a jacuzzi tub. Unit B provides 3 bedrooms, 2 bathrooms, a flex area, and its own fenced outdoor space. Both units feature waterproof flooring without carpet and updated finishes throughout.
The property is located at 5120 NE 22nd Avenue in Lighthouse Point, near Deerfield Beach, Hillsboro Beach, marinas, and waterfront dining. It is zoned RD-10. Furniture is negotiable, allowing the property to be offered furnished or unfurnished.
The property is located at 5120 NE 22nd Avenue in Lighthouse Point, near Deerfield Beach, Hillsboro Beach, marinas, and waterfront dining. It is zoned RD-10. Furniture is negotiable, allowing the property to be offered furnished or unfurnished.
Key Highlights
- 2,779‑square‑foot duplex on a private corner lot
- Two renovated residences with separate electric meters
- Unit A: 2 bedrooms, 2 bathrooms, flex room, and dedicated laundry room
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
$46,325
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
3.94%
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%
$926,500
$926.5K
Cap Rate 7%
$661,786
$661.8K
Cap Rate 9%
$514,722
$514.7K
Market Conditions
NOI Build-Up for 2,779 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
$70.0K $25.20/SF
− Vacancy
−$3.9K −$1.39/SF
EGI
$66.2K $23.81/SF
− OpEx
−$19.9K −$7.14/SF
NOI
$46.3K $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%
$926,500
Cap Rate 7%
$661,786
Cap Rate 9%
$514,722
Alternative Uses
Best Use
Multifamily LT 5
$661.8K
$579.1K – $772.1K
NOI $46,325 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$610.6K
$534.2K – $712.3K
NOI $42,739 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,693 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
947
Businesses Nearby
Explore this area
Business Placement
Demographics for 33064, FL
62,429
Population
26,641
Households
2.3
Avg Household Size
39
Median Age
29%
College-Educated
82%
High-School Grad
10.2 sq mi
ZIP Area
6,120
Density / Sq Mi
$66,269
Median Household Income
$35,090
Median Earnings
$1,689
Median Rent
$293,100
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 renovated residences offer separate electric meters and flexible layouts on a private corner lot.
Where is this duplex located?
The property is located at 5120 NE 22nd Avenue Lighthouse Point, FL.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: 2,779‑square‑foot duplex on a private corner lot; Two renovated residences with separate electric meters; Unit A: 2 bedrooms, 2 bathrooms, flex room, and dedicated laundry room
