Four-Unit Quadplex Near
New
For Sale
$1,250,000
1241 SE 3RD Street 1-4, Deerfield Beach, FL 33441
New roofing and impact windows enhance this two-story multifamily property near shopping, restaurants, and the beach.
Property Size2,379 SF
Price / SF$525.43
Days on Market7
Property Features for 1241 SE 3RD Street 1-4
General Information
Standard status
Active
Size
2,379 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$20,744
Building Details
Building Size
2,379 SF
Year Built
1965
Listing Agency:
Savvy Avenue, LLC
(888) 490-1268
Listed By:
Moe Mossa · License #3432985
(888) 490-1268
Source:
Pamandtoni
Added: Aug 18
Changed: Aug 24
Last Checked: Aug 23 at 6:57AM
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 Savvy Avenue, LLC
Investment Insights
Based on property information with market context.
This four-unit multifamily property is located at 1241 SE 3RD St in Deerfield Beach. Built in 1965, the asset includes a new roof and impact windows. The address identifies units 1-4 within the quadplex configuration.
The property is within walking distance of the beach and a large shopping center featuring Publix and restaurants. An adjacent six-unit property is also available, providing an additional multifamily acquisition option. Transportation characteristics include a Walk Score of 15, a Bike Score of 35, and a Transit Score of 31.
The property is within walking distance of the beach and a large shopping center featuring Publix and restaurants. An adjacent six-unit property is also available, providing an additional multifamily acquisition option. Transportation characteristics include a Walk Score of 15, a Bike Score of 35, and a Transit Score of 31.
Key Highlights
- Four‑unit quadplex at 1241 SE 3RD St 1‑4
- New roof and impact windows
- Within walking distance to the beach
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
$39,657
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
3.17%
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%
$793,140
$793.1K
Cap Rate 7%
$566,529
$566.5K
Cap Rate 9%
$440,633
$440.6K
Market Conditions
NOI Build-Up for 2,379 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
$60.0K $25.20/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$56.7K $23.81/SF
− OpEx
−$17.0K −$7.14/SF
NOI
$39.7K $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%
$793,140
Cap Rate 7%
$566,529
Cap Rate 9%
$440,633
Alternative Uses
Best Use
Multifamily LT 5
$566.5K
$495.7K – $661.0K
NOI $39,657 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$522.7K
$457.3K – $609.8K
NOI $36,587 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,488 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 33441, FL
29,311
Population
15,225
Households
1.9
Avg Household Size
43
Median Age
28%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,106
Density / Sq Mi
$57,257
Median Household Income
$35,163
Median Earnings
$1,544
Median Rent
$381,700
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?
Quadplex - New roofing and impact windows enhance this two-story multifamily property near shopping, restaurants, and the beach.
Where is this quadplex located?
The property is located at 1241 SE 3RD Street 1-4 Deerfield Beach, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Four‑unit quadplex at 1241 SE 3RD St 1‑4; New roof and impact windows; Within walking distance to the beach
