22-Unit Apartment
For Sale
$4,000,000
1-22-301 Nw 32nd Ct, Pompano Beach, FL 33064
All residences have two bedrooms and two bathrooms, with an option to acquire a neighboring 24-unit property as well.
Property Size16,679 SF
Lot Size1.00 Acre
Price / SF$239.82
Days on Market34
Property Features for 1-22-301 Nw 32nd Ct
General Information
Standard status
Active
Size
16,679 SF
Lot size
1.00 Acre
Units
Unit Mix
22 x 2BR/2BA
Multifamily Units
22
Additional Details
Gross Income
$396,318
Highway Access
Yes
Listing Agency:
Fausto Commercial Realty Consultants Inc
(786) 748-7373
Listed By:
Elior Levi · License #3574869
(954) 743-7594
Source:
Exprealty
Added: Aug 28
Changed: Sep 28
Last Checked: Sep 29 at 12:56PM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
This 22-unit apartment property in Pompano Beach contains 16,679 SF of building area on a 43,552 SF lot. The unit mix is consistent throughout: each residence has two bedrooms and two bathrooms. The property is offered individually, or alongside a neighboring 24-unit apartment property for a combined 46-unit acquisition.
The property is minutes from I-95 and Atlantic Boulevard, with access to Downtown Pompano Beach, retail corridors, employment centers, and the waterfront. These connections place the apartments within reach of several local destinations and activity areas.
The property is minutes from I-95 and Atlantic Boulevard, with access to Downtown Pompano Beach, retail corridors, employment centers, and the waterfront. These connections place the apartments within reach of several local destinations and activity areas.
Key Highlights
- 22 apartments, each with two bedrooms and two bathrooms
- 16, 679 SF of building area on a 43, 552 SF lot
- Can be acquired with a neighboring 24‑unit property as a 46‑unit portfolio
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
$256,214
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
6.41%
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%
$5,124,280
$5.1M
Cap Rate 7%
$3,660,200
$3.7M
Cap Rate 9%
$2,846,822
$2.8M
Market Conditions
NOI Build-Up for 16,679 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
$490.4K $29.40/SF
− Vacancy
−$24.5K −$1.47/SF
EGI
$465.8K $27.93/SF
− OpEx
−$209.6K −$12.57/SF
NOI
$256.2K $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%
$5,124,280
Cap Rate 7%
$3,660,200
Cap Rate 9%
$2,846,822
Alternative Uses
Best Use
Apartment 5plus
$3.66M
$3.20M – $4.27M
NOI $256,214 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.50M
$5.69M – $7.59M
NOI $455,337 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,314
Businesses Nearby
Explore this area
Business Placement
Demographics for 33064, FL
62,429
Population
26,641
Households
2.3
Avg Household Size
39
Median Age
29%
College-Educated
82%
High-School Grad
10.2 sq mi
ZIP Area
6,120
Density / Sq Mi
$66,269
Median Household Income
$35,090
Median Earnings
$1,689
Median Rent
$293,100
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?
Apartment building - All residences have two bedrooms and two bathrooms, with an option to acquire a neighboring 24-unit property as well.
Where is this apartment building located?
The property is located at 1-22-301 Nw 32nd Ct Pompano Beach, FL.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 22 apartments, each with two bedrooms and two bathrooms; 16, 679 SF of building area on a 43, 552 SF lot; Can be acquired with a neighboring 24‑unit property as a 46‑unit portfolio
