Pompano Beach Fourplex Investment
For Sale
$1,100,000
1231 NE 23rd Ave, Pompano Beach, FL 33062
Cash-flowing fourplex in Pompano Beach with value-add potential.
Property Size2,887 SF
Days on Market282
Property Features for 1231 NE 23rd Ave
General Information
Standard status
Active
Size
2,887 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$14,864
Building Details
Building Size
2,887 SF
Year Built
1966
Stories
1
Units
4
Listing Agency:
Compra Venta Miami
Listed By:
Victor Persia · License #3194931
(786) 285-1871
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 13
Last Checked: Sep 4 at 11:25AM
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 Compra Venta Miami
Investment Insights
Based on property information with market context.
This multi-family property is located in Pompano Beach, Florida. It is a fourplex with three units currently occupied by tenants, and one vacant unit. The property is positioned in a rental market near beaches, retail areas, and employment centers, presenting an investment opportunity.
Key Highlights
- Cash‑flowing fourplex with immediate returns.
- Located in the high‑demand rental market of Pompano Beach.
- Three units are currently occupied with stable tenants.
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
$48,278
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
4.39%
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%
$965,560
$965.6K
Cap Rate 7%
$689,686
$689.7K
Cap Rate 9%
$536,422
$536.4K
Market Conditions
NOI Build-Up for 2,887 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
$72.8K $25.20/SF
− Vacancy
−$3.8K −$1.31/SF
EGI
$69.0K $23.89/SF
− OpEx
−$20.7K −$7.17/SF
NOI
$48.3K $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%
$965,560
Cap Rate 7%
$689,686
Cap Rate 9%
$536,422
Alternative Uses
Best Use
Multifamily LT 5
$689.7K
$603.5K – $804.6K
NOI $48,278 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$633.6K
$554.4K – $739.2K
NOI $44,349 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$1.13M
$985.2K – $1.31M
NOI $78,815 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Cash-flowing fourplex in Pompano Beach with value-add potential.
Where is this quadplex located?
The property is located at 1231 NE 23rd Ave Pompano Beach, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Cash‑flowing fourplex with immediate returns.; Located in the high‑demand rental market of Pompano Beach.; Three units are currently occupied with stable tenants.
