Hallandale Beach Development
For Sale
$2,590,000
516 NW 4th Ave, Hallandale Beach, FL 33009
Package deal: churches, residential units, and land for development.
Property Size6,529 SF
Lot Size0.82 Acres
Days on Market272
Property Features for 516 NW 4th Ave
General Information
Standard status
Active
Size
6,529 SF
Lot size
0.82 Acres
Property subtype
Commercial
Building Details
Building Size
6,529 SF
Year Built
1951
Listing Agency:
The Keyes Company
(754) 244-1325
Listed By:
Othniel Sculley · License #3344635
(754) 244-1325
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 13
Last Checked: Aug 26 at 10:08AM
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 property package presents a development opportunity in Hallandale Beach, Florida. The offering includes two church buildings, two residential units each featuring three bedrooms and two bathrooms, and a fenced empty land space spanning one block. The area is zoned for both commercial and residential use, aligning with ongoing multi-family home developments in the vicinity. Upgrades and repainting have been recently completed on some buildings, and security cameras have been installed throughout the property.
Key Highlights
- Zoned for both commercial and residential use, offering diverse development opportunities.
- Includes two church buildings and two residential units with 3 bedrooms and 2 bathrooms each.
- One block long fenced empty land space included in the package.
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
$108,837
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
4.20%
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%
$2,176,740
$2.2M
Cap Rate 7%
$1,554,814
$1.6M
Cap Rate 9%
$1,209,300
$1.2M
Market Conditions
NOI Build-Up for 6,529 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
$164.5K $25.20/SF
− Vacancy
−$9.0K −$1.39/SF
EGI
$155.5K $23.81/SF
− OpEx
−$46.6K −$7.14/SF
NOI
$108.8K $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%
$2,176,740
Cap Rate 7%
$1,554,814
Cap Rate 9%
$1,209,300
Alternative Uses
Best Use
Multifamily LT 5
$1.55M
$1.36M – $1.81M
NOI $108,837 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$1.43M
$1.26M – $1.67M
NOI $100,412 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$3.31M
$2.90M – $3.86M
NOI $231,871 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,533
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
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Package deal: churches, residential units, and land for development.
Where is this church & religious facility located?
The property is located at 516 NW 4th Ave Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $2,590,000.
What are key features of this property?
This property features: Zoned for both commercial and residential use, offering diverse development opportunities.; Includes two church buildings and two residential units with 3 bedrooms and 2 bathrooms each.; One block long fenced empty land space included in the package.
