Two-Story
For Sale
$450,000
628 SW 4th Street 1, Belle Glade, FL 33430
Four apartments offer consistent two-bedroom, one-bath layouts with durable interior finishes and impact-rated windows.
Property Size2,496 SF
Price / SF$180.29
Days on Market38
Property Features for 628 SW 4th Street 1
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,441
Building Details
Building Size
2,496 SF
Year Built
1965
Buildings
1
Stories
2
Listing Agency:
Casteland Real Estate Corp
(954) 816-0756
Listed By:
Elizabeth C Strehse · License #3033981
(954) 816-0756
Source:
Meyerlucas
Added: Jul 6
Changed: Aug 11
Last Checked: Aug 11 at 12:15PM
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 Casteland Real Estate Corp
Investment Insights
Based on property information with market context.
Built in 1965, this two-level multifamily property contains four apartments within 2,496 square feet of above-grade finished living space. Each unit provides approximately 638 square feet arranged as two bedrooms and one bathroom, creating a consistent configuration across the property.
Interior features include ceramic tile or vinyl flooring and wood cabinetry, while impact windows serve each apartment. The property is located at 628 SW 4th Street in Belle Glade, Florida, within the City of Belle Glade.
Interior features include ceramic tile or vinyl flooring and wood cabinetry, while impact windows serve each apartment. The property is located at 628 SW 4th Street in Belle Glade, Florida, within the City of Belle Glade.
Key Highlights
- Four‑unit multifamily property with two‑bedroom, one‑bath apartments
- 2,496 square feet of above‑grade finished living space
- Each apartment measures approximately 638 square feet
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
$38,387
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
8.53%
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%
$767,740
$767.7K
Cap Rate 7%
$548,386
$548.4K
Cap Rate 9%
$426,522
$426.5K
Market Conditions
NOI Build-Up for 2,496 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
$73.1K $29.28/SF
− Vacancy
−$3.3K −$1.32/SF
EGI
$69.8K $27.96/SF
− OpEx
−$31.4K −$12.58/SF
NOI
$38.4K $15.38/SF
Area
Palm Beach 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%
$767,740
Cap Rate 7%
$548,386
Cap Rate 9%
$426,522
Alternative Uses
Best Use
Multifamily LT 5
$594.4K
$520.1K – $693.5K
NOI $41,608 @ 7.0% cap · market cap 9.25%
Second Best
Apartment 5plus
$548.4K
$479.8K – $639.8K
NOI $38,387 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,048 @ 7.0% cap · market cap 27.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Explore this area
Business Placement
Demographics for 33430, FL
20,327
Population
7,158
Households
2.8
Avg Household Size
35
Median Age
13%
College-Educated
71%
High-School Grad
239.8 sq mi
ZIP Area
85
Density / Sq Mi
$48,690
Median Household Income
$31,117
Median Earnings
$860
Median Rent
$142,200
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?
Quadplex - Four apartments offer consistent two-bedroom, one-bath layouts with durable interior finishes and impact-rated windows.
Where is this quadplex located?
The property is located at 628 SW 4th Street 1 Belle Glade, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four‑unit multifamily property with two‑bedroom, one‑bath apartments; 2,496 square feet of above‑grade finished living space; Each apartment measures approximately 638 square feet
