Waterfront Apartment Building with
For Sale
$1,895,000
1361 NE 27 Way, Pompano Beach, FL
MULTI_FAMILY - Pompano Beach, FL
Property Size4,547 SF
Lot Size0.18 Acres
Price / SF$416.76
Days on Market94
Property Features for 1361 NE 27 Way
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-20
Parking
8
Security features
Security
Fencing
Fenced
Lot features
Cul-De-Sac, Irregular Lot, Landscaped
Directions
From Federal Hwy go east on NE 14th Street Cswy to NE 27th Way and turn right (south). Property is on the right. From N Ocean Blvd go west on NE 14th Street Cswy, over Intracoastal Waterway and turn left on NE 27th Way.
Subdivision
3232
Standard status
Active
APN
484330250050
Size
4,547 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 107 Country Club Isles Replat 54-38 B
Tax Annual Amount
24531
Legal Description
Lot 107 Country Club Isles Replat 54-38 B
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
central air conditioning
screened patios
enclosed patio
brick paver walkways
aluminum railings
dock
Building Details
Year built
1968
Floors in Building
2
Number of units
6
Flooring type
Tile
Building materials
CBS
Roof type
Mansard, Flat
Listing Agency:
The Keyes Company
(954) 467-0105
Listed By:
Ross Z Herman · License #372598
(954) 563-6800
Added: May 6
Changed: Aug 5
Last Checked: Aug 7 at 9:06AM
MLS# B26025157
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 waterfront apartment building includes five two-bedroom, one-bath units and one one-bedroom, one-bath unit, each with central air conditioning. Many interiors have remodeled kitchens, bathrooms, and flooring. Five units feature screened patios, and one unit has an enclosed patio. Property upgrades include newer windows and doors, brick paver walkways, and aluminum railings. Building recertification was completed in 2021.
The property is described as east of Federal Hwy on deep water with no fixed bridge access to the ocean, with a dock navigable to a nearby inlet and directly out to the Atlantic Ocean. The dock is approximately 33 feet, and water and electric are available. The remarks also note a roughly 1/2 mile stroll to the beach.
The property is zoned RM-20. No property visits without an appointment.
The property is described as east of Federal Hwy on deep water with no fixed bridge access to the ocean, with a dock navigable to a nearby inlet and directly out to the Atlantic Ocean. The dock is approximately 33 feet, and water and electric are available. The remarks also note a roughly 1/2 mile stroll to the beach.
The property is zoned RM-20. No property visits without an appointment.
Key Highlights
- Dock appx 33 ft with water and electric available, navigable to a nearby inlet and out to the Atlantic Ocean
- Multi‑unit building with 5 two‑bedroom/1‑bath units and 1 one‑bedroom/1‑bath unit
- Each unit has central air; interior updates include remodeled kitchens, bathrooms, and flooring
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
$69,849
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
3.69%
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%
$1,396,980
$1.4M
Cap Rate 7%
$997,843
$997.8K
Cap Rate 9%
$776,100
$776.1K
Market Conditions
NOI Build-Up for 4,547 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
$133.7K $29.40/SF
− Vacancy
−$6.7K −$1.47/SF
EGI
$127.0K $27.93/SF
− OpEx
−$57.1K −$12.57/SF
NOI
$69.8K $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%
$1,396,980
Cap Rate 7%
$997,843
Cap Rate 9%
$776,100
Alternative Uses
Best Use
Apartment 5plus
$997.8K
$873.1K – $1.16M
NOI $69,849 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,133 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,279
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?
Apartment building - Apartment building with 6 units, central air, screened/enclosed patios, and an approximately 33-foot dock with water and electric.
Where is this apartment building located?
The property is located at 1361 NE 27 Way Pompano Beach, FL.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Dock appx 33 ft with water and electric available, navigable to a nearby inlet and out to the Atlantic Ocean; Multi‑unit building with 5 two‑bedroom/1‑bath units and 1 one‑bedroom/1‑bath unit; Each unit has central air; interior updates include remodeled kitchens, bathrooms, and flooring
