Hallandale Beach Co-op
For Sale
$240,000
580 Egret Dr 302, Hallandale Beach, FL 33009
Two-bedroom, two-bath co-op near beach and shopping.
Property Size1,000 SF
Days on Market278
Property Features for 580 Egret Dr 302
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$4,003
Building Details
Building Size
1,000 SF
Year Built
1969
Stories
3
Units
72
Listed By:
Ana Ordaz · License #0678771
(305) 613-6751
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 23
Last Checked: Sep 1 at 8:54PM
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 Ana Ordaz
Investment Insights
Based on property information with market context.
Located at the entrance of Golden Isles in Hallandale Beach, this Casa Paradiso CO-OP is an investor-only opportunity. Situated in a quiet neighborhood next to a park and tennis courts, the location offers convenient access to the beach and shopping within walking distance. Residents have access to a private park with a dock, BBQ area, swimming pool, laundry room, clubhouse, and extra storage facilities. The apartment features a comfortable layout with two bedrooms and two bathrooms within 1000 square feet. It includes white tile floors, freshly painted walls, and a screened patio.
Key Highlights
- Prime location: Walking distance to the beach and shopping in Hallandale Beach.
- Exclusive amenities: Private park with dock, BBQ, swimming pool, clubhouse, laundry room, and extra storage.
- Investor‑only opportunity: Rented unit providing immediate income potential.
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
$15,379
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
6.41%
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%
$307,580
$307.6K
Cap Rate 7%
$219,700
$219.7K
Cap Rate 9%
$170,878
$170.9K
Market Conditions
NOI Build-Up for 1,000 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
$29.3K $29.28/SF
− Vacancy
−$1.3K −$1.32/SF
EGI
$28.0K $27.96/SF
− OpEx
−$12.6K −$12.58/SF
NOI
$15.4K $15.38/SF
Area
Broward County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
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%
$307,580
Cap Rate 7%
$219,700
Cap Rate 9%
$170,878
Alternative Uses
Best Use
Apartment 5plus
$219.7K
$192.2K – $256.3K
NOI $15,379 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$507.3K
$443.9K – $591.9K
NOI $35,514 @ 7.0% cap · market cap 14.80%
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?
Apartment building - Two-bedroom, two-bath co-op near beach and shopping.
Where is this apartment building located?
The property is located at 580 Egret Dr 302 Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Prime location: Walking distance to the beach and shopping in Hallandale Beach.; Exclusive amenities: Private park with dock, BBQ, swimming pool, clubhouse, laundry room, and extra storage.; Investor‑only opportunity: Rented unit providing immediate income potential.
