20-Unit CBS Apartment
For Sale
$4,750,000
2275 NE 12TH Street, Pompano Beach, FL 33062
Commercial Sale, Pompano Beach, FL
Property Size11,165 SF
Lot Size0.42 Acres
Price / SF$425.44
Days on Market50
Property Features for 2275 NE 12TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-20
Parking
25
Directions
North of Atlantic east of US 1 on 12th St
Subdivision
3232
Standard status
Active
APN
484330200090
Size
11,165 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FLORENCE VILLAS 42-8 B LOT 1 BLK 2
Tax Annual Amount
63687
Legal Description
FLORENCE VILLAS 42-8 B LOT 1 BLK 2
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Ceiling Fan(s), Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1958
Floors in Building
2
Number of units
20
Flooring type
Tile
Building materials
CBS
Roof type
Composition
Listing Agency:
Nicklaus Vance
(561) 721-2626
Listed By:
Casey M Prindle · License #3223583
(786) 443-7203
Added: Jul 28
Changed: Sep 12
Last Checked: Sep 15 at 5:06AM
MLS# B26057380
Copyright © 2026 BeachesMLS. 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 multifamily property includes 20 units across two CBS buildings on two contiguous parcels totaling 0.42 acres. The unit mix comprises 18 one-bedroom apartments and 2 two-bedroom apartments, with 11,165 square feet of property area. Tile flooring, electric heating, public water, public sewer, composition roofing, and wall/window cooling systems are among the existing property features. The buildings were constructed in 1958.
Located east of Federal Highway in Pompano Beach, the property is near the beach and Intracoastal. The site is also positioned near the downtown core redevelopment area and newer beachfront hotels. RM-20 zoning and the established apartment configuration provide a clear multifamily operating framework.
Located east of Federal Highway in Pompano Beach, the property is near the beach and Intracoastal. The site is also positioned near the downtown core redevelopment area and newer beachfront hotels. RM-20 zoning and the established apartment configuration provide a clear multifamily operating framework.
Key Highlights
- 20 units across two CBS buildings
- 18 one‑bedroom units and 2 two‑bedroom units
- Two contiguous parcels totaling 0.42 acres
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
$171,511
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
3.61%
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%
$3,430,220
$3.4M
Cap Rate 7%
$2,450,157
$2.5M
Cap Rate 9%
$1,905,678
$1.9M
Market Conditions
NOI Build-Up for 11,165 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
$328.3K $29.40/SF
− Vacancy
−$16.4K −$1.47/SF
EGI
$311.8K $27.93/SF
− OpEx
−$140.3K −$12.57/SF
NOI
$171.5K $15.36/SF
Area
Pompano Beach, FL
Vacancy
5.00%
Lease Rate
$29.40 /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%
$3,430,220
Cap Rate 7%
$2,450,157
Cap Rate 9%
$1,905,678
Alternative Uses
Best Use
Apartment 5plus
$2.45M
$2.14M – $2.86M
NOI $171,511 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.35M
$3.81M – $5.08M
NOI $304,805 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
1,001
Businesses Nearby
Explore this area
Business Placement
Demographics for 33062, FL
25,293
Population
23,059
Households
1.1
Avg Household Size
60
Median Age
48%
College-Educated
94%
High-School Grad
3.9 sq mi
ZIP Area
6,485
Density / Sq Mi
$82,955
Median Household Income
$56,828
Median Earnings
$1,888
Median Rent
$511,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-building multifamily property with one- and two-bedroom units in an RM-20 zoning district near the beach.
Where is this apartment building located?
The property is located at 2275 NE 12TH Street Pompano Beach, FL.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: 20 units across two CBS buildings; 18 one‑bedroom units and 2 two‑bedroom units; Two contiguous parcels totaling 0.42 acres
