6-Unit Garden-Style Apartment
For Sale
$695,000
211 SW 2nd Ct, Pompano Beach, FL 33060
Avondale Flats is a 6-unit garden-style building with a newer roof and hurricane impact windows.
Property Size2,324 SF
Price / SF$299.05
Days on Market153
Property Features for 211 SW 2nd Ct
General Information
Standard status
Active
Size
2,324 SF
Property subtype
Multifamily
Occupancy
96%
Additional Details
Cap Rate
7.06%
Multifamily Units
6
Amenities
Each Unit Features A Full Kitchen
Located East of Interstate-95 in Pompano Beach
1954 Concrete Block Construction and Hurricane Impact Windows Throughout
Building Details
Building Size
2,324 SF
Year Built
1954
Units
6
Listing Agency:
Fort Lauderdale Office
Listed By:
Daniel Cunningham · License #License(s): FL: SL3234051
(954) 245-3584
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 7
Last Checked: Sep 1 at 2:29PM
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 Fort Lauderdale Office
Investment Insights
Based on property information with market context.
Avondale Flats is a 6-unit garden-style apartment building built in 1954. The property totals 2,324 square feet and features a newer roof and hurricane impact windows. Each unit includes a full kitchen and wall unit air conditioning.
The building is located at 211 SW 2nd Ct in Pompano Beach, with proximity to redevelopment activity around Pompano Beach City Hall less than 1 mile away. The area is seeing new commercial, residential, and public projects, with modern retail spaces and infrastructure improvements underway.
Outdoor recreation is also nearby, including the Pompano Beach Amphitheater and Pompano Community Park. Educational options such as Pompano Beach High School and Pompano Beach Elementary School are within close reach, supporting broad day-to-day accessibility for residents.
The building is located at 211 SW 2nd Ct in Pompano Beach, with proximity to redevelopment activity around Pompano Beach City Hall less than 1 mile away. The area is seeing new commercial, residential, and public projects, with modern retail spaces and infrastructure improvements underway.
Outdoor recreation is also nearby, including the Pompano Beach Amphitheater and Pompano Community Park. Educational options such as Pompano Beach High School and Pompano Beach Elementary School are within close reach, supporting broad day-to-day accessibility for residents.
Key Highlights
- 6‑unit garden‑style apartment building built in 1954 with 2,324 SF total building area
- Newer roof
- Hurricane impact windows
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
$35,700
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
5.14%
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%
$714,000
$714.0K
Cap Rate 7%
$510,000
$510.0K
Cap Rate 9%
$396,667
$396.7K
Market Conditions
NOI Build-Up for 2,324 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
$68.3K $29.40/SF
− Vacancy
−$3.4K −$1.47/SF
EGI
$64.9K $27.93/SF
− OpEx
−$29.2K −$12.57/SF
NOI
$35.7K $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%
$714,000
Cap Rate 7%
$510,000
Cap Rate 9%
$396,667
Alternative Uses
Best Use
Apartment 5plus
$510.0K
$446.3K – $595.0K
NOI $35,700 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$906.4K
$793.1K – $1.06M
NOI $63,445 @ 7.0% cap · market cap 9.13%
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
1,783
Businesses Nearby
Explore this area
Business Placement
Demographics for 33060, FL
35,793
Population
15,653
Households
2.3
Avg Household Size
39
Median Age
25%
College-Educated
82%
High-School Grad
7.0 sq mi
ZIP Area
5,113
Density / Sq Mi
$59,757
Median Household Income
$34,275
Median Earnings
$1,406
Median Rent
$354,100
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 - Avondale Flats is a 6-unit garden-style building with a newer roof and hurricane impact windows.
Where is this apartment building located?
The property is located at 211 SW 2nd Ct Pompano Beach, FL.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 6‑unit garden‑style apartment building built in 1954 with 2,324 SF total building area; Newer roof; Hurricane impact windows
