Duplex with Central Air
For Sale
$575,000
625 SW 3rd St, Hallandale Beach, FL 33009
MULTI_FAMILY - Hallandale Beach, FL
Property Size1,624 SF
Price / SF$354.06
Days on Market30
Property Features for 625 SW 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RS-6
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 2
Parking
4
Subdivision
HALLANDALE GARDEN PARK
Lot features
< 1/4 Acre
Standard status
Active
APN
514228260010
Size
1,624 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
HALLANDALE GARDEN PARK 40-46 B LOT 1 BLK 1
Tax Annual Amount
10014
Legal Description
HALLANDALE GARDEN PARK 40-46 B LOT 1 BLK 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Central Air
Building Details
Year built
1959
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Beachfront Realty Inc
(305) 405-0615
Listed By:
Chaim Glik · License #3265723
(786) 344-3207
Added: Jul 18
Changed: Aug 13
Last Checked: Aug 16 at 12:06AM
MLS# A12031017
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex includes two 2/1 residences within a single block-built property. Both units have central air conditioning and tile flooring throughout. The rear unit also features a large fenced back yard, providing outdoor space for day-to-day use.
Built in 1959, the property totals 1,624 square feet. Construction is block with a shingle roof. Utilities include cable availability, and the property is served by public sewer.
The duplex is located on a quiet street in Hallandale Beach, close to schools and shopping, including Aventura Mall, with access to major highways.
Built in 1959, the property totals 1,624 square feet. Construction is block with a shingle roof. Utilities include cable availability, and the property is served by public sewer.
The duplex is located on a quiet street in Hallandale Beach, close to schools and shopping, including Aventura Mall, with access to major highways.
Key Highlights
- 1,624 SF duplex with two 2/1 units
- Both units have central air conditioning
- Tile flooring throughout
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
$27,072
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
4.71%
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%
$541,440
$541.4K
Cap Rate 7%
$386,743
$386.7K
Cap Rate 9%
$300,800
$300.8K
Market Conditions
NOI Build-Up for 1,624 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
$40.9K $25.20/SF
− Vacancy
−$2.3K −$1.39/SF
EGI
$38.7K $23.81/SF
− OpEx
−$11.6K −$7.14/SF
NOI
$27.1K $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%
$541,440
Cap Rate 7%
$386,743
Cap Rate 9%
$300,800
Alternative Uses
Best Use
Multifamily LT 5
$386.7K
$338.4K – $451.2K
NOI $27,072 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$356.8K
$312.2K – $416.3K
NOI $24,976 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$823.9K
$720.9K – $961.3K
NOI $57,675 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,753
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?
Duplex - Two 2/1 units feature central AC and tile flooring, with a fenced backyard for the rear unit.
Where is this duplex located?
The property is located at 625 SW 3rd St Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 1,624 SF duplex with two 2/1 units; Both units have central air conditioning; Tile flooring throughout
