Six-Unit Multifamily Property with
For Sale
Under Contract
$1,649,000
3209 NE 7th Place, Pompano Beach, FL
Commercial Sale, Pompano Beach, FL
Property Size4,653 SF
Lot Size0.38 Acres
Price / SF$354.40
Days on Market30
Property Features for 3209 NE 7th Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-20
Parking features
On Street
Lot features
Landscaped
Directions
Think of the beach! Property is located 1/2 block off N Ocean Blvd, north of Atlantic Blvd and south of the NE 14th Street Cswy.
Subdivision
3113
Standard status
Active Under Contract
APN
484331240060
Size
4,653 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lots 5,6 Jelks Estates 31-34 B, includes 484331240050
Tax Annual Amount
34162
Legal Description
Lots 5,6 Jelks Estates 31-34 B, includes 484331240050
Utilities
Sewer type
Public Sewer
Cooling system
Ductless
Water source
Public
Amenities
swimming pool
Building Details
Year built
1956
Floors in Building
1
Number of units
6
Flooring type
Tile, Laminate
Building materials
CBS
Roof type
Shingle
Listing Agency:
The Keyes Company
(954) 467-0105
Listed By:
Ross Z Herman · License #372598
(954) 563-6800
Added: Jul 31
Changed: Aug 26
Last Checked: Aug 29 at 4:06PM
MLS# B26058654
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 comprises two adjoining triplex buildings with six apartments and 4,653 square feet of building area. Constructed in 1956 with CBS construction, the property includes tile and laminate flooring, remodeled kitchens and bathrooms in upgraded units, ductless cooling, and a shingle roof. Most apartments are partially furnished, and a swimming pool serves the complex.
The property occupies approximately 0.38 acres in Pompano Beach, with RM-20 zoning and public water and sewer service. Parking is available on the street. Units are currently leased annually under expired leases that continue on a month-to-month basis, providing flexibility for future leasing decisions. The two-building configuration is offered as a package.
The property occupies approximately 0.38 acres in Pompano Beach, with RM-20 zoning and public water and sewer service. Parking is available on the street. Units are currently leased annually under expired leases that continue on a month-to-month basis, providing flexibility for future leasing decisions. The two-building configuration is offered as a package.
Key Highlights
- Six apartments across two adjoining triplex buildings
- 4,653 SF multifamily property on approximately 0.38 acres
- Swimming pool serves the apartment complex
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
$77,811
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
4.72%
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%
$1,556,220
$1.6M
Cap Rate 7%
$1,111,586
$1.1M
Cap Rate 9%
$864,567
$864.6K
Market Conditions
NOI Build-Up for 4,653 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
$117.3K $25.20/SF
− Vacancy
−$6.1K −$1.31/SF
EGI
$111.2K $23.89/SF
− OpEx
−$33.3K −$7.17/SF
NOI
$77.8K $16.72/SF
Area
Pompano Beach, FL
Vacancy
5.20%
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%
$1,556,220
Cap Rate 7%
$1,111,586
Cap Rate 9%
$864,567
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$972.6K – $1.30M
NOI $77,811 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$1.02M
$893.5K – $1.19M
NOI $71,477 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $127,027 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
824
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two adjoining triplex buildings feature updated interiors, partially furnished units, and a shared swimming pool.
Where is this multifamily property located?
The property is located at 3209 NE 7th Place Pompano Beach, FL.
What is the asking price?
The asking price for this property is $1,649,000.
What are key features of this property?
This property features: Six apartments across two adjoining triplex buildings; 4,653 SF multifamily property on approximately 0.38 acres; Swimming pool serves the apartment complex
