Hallandale Beach Duplex
For Sale
Contact for pricing
809 NE 2nd St unit 1-2, Hallandale Beach, FL 33009
Duplex with stable return in a fast-growing area.
Property Size1,422 SF
Price / SF$414.91
Days on Market642
Property Features for 809 NE 2nd St unit 1-2
General Information
Standard status
Active
Size
1,422 SF
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
RD-12
Building Details
Year Built
1960
Units
2
Listing Agency:
Big International Realty, Inc.
(786) 280-6555
Listed By:
Eli Nektalov · License #0684809
Source:
Crexi
Added: Nov 16, 2024
Changed: Aug 8
Last Checked: Aug 19 at 6:06PM
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 Big International Realty, Inc.
Investment Insights
Based on property information with market context.
This duplex property offers a potential return on investment. Located in a rapidly developing area east of US1, the property features two units, each approximately 700 square feet with one bedroom and one bathroom. Tile flooring is present throughout both units. The windows have been replaced with hurricane-resistant models. New washer and dryer units are installed. The roof and air conditioning system were replaced four years ago. A new heater was installed in Unit #1 in September 2025. Electricity, water, garbage, cable, and internet expenses are covered by the tenant.
Key Highlights
- 5. 5% CAP Rate Duplex offers stable return and long‑term appreciation potential.
- Located in the fastest growing area East of US1.
- Hurricane‑proof windows recently installed.
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
$23,704
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
4.02%
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%
$474,080
$474.1K
Cap Rate 7%
$338,629
$338.6K
Cap Rate 9%
$263,378
$263.4K
Market Conditions
NOI Build-Up for 1,422 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
$35.8K $25.20/SF
− Vacancy
−$2.0K −$1.39/SF
EGI
$33.9K $23.81/SF
− OpEx
−$10.2K −$7.14/SF
NOI
$23.7K $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%
$474,080
Cap Rate 7%
$338,629
Cap Rate 9%
$263,378
Alternative Uses
Best Use
Multifamily LT 5
$338.6K
$296.3K – $395.1K
NOI $23,704 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$312.4K
$273.4K – $364.5K
NOI $21,869 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$721.4K
$631.3K – $841.7K
NOI $50,501 @ 7.0% cap · market cap 8.56%
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?
Duplex - Duplex with stable return in a fast-growing area.
Where is this duplex located?
The property is located at 809 NE 2nd St unit 1-2 Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: 5. 5% CAP Rate Duplex offers stable return and long‑term appreciation potential.; Located in the fastest growing area East of US1.; Hurricane‑proof windows recently installed.
