Waterfront Apartment Building with
For Sale
$1,895,000
1361 NE 27 Way, Pompano Beach, FL 33062
Waterfront apartment building with dock and ocean access.
Property Size4,547 SF
Price / SF$416.76
Days on Market104
Property Features for 1361 NE 27 Way
General Information
Standard status
Active
Size
4,547 SF
Building Details
Year Built
1968
Listing Agency:
The Keyes Company
(305) 371-3592
Listed By:
Ross Z Herman · License #372598
Source:
Mymiahomes
Added: May 16
Changed: Aug 23
Last Checked: Aug 26 at 10:41AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
Located east of Federal Hwy on deep water, this property offers dockage with no fixed bridge access to the ocean. The building contains 5 two-bedroom, one-bath units and 1 one-bedroom, one-bath unit, each equipped with central air conditioning. All units feature remodeled kitchens, bathrooms, and flooring. Five units include screened patios, while one has an enclosed patio. Additional upgrades encompass newer windows and doors, brick paver walkways, and aluminum railings. The dock is approximately 33 feet long and has water and electric available. Residents can enjoy waterway views and a short stroll to the beach, which is about 1/2 mile away. The building recertification was completed in 2021. The property size is 4547 square feet.
Key Highlights
- Deep water access with no fixed bridges to the ocean.
- Dock with water and electric, navigable to the Atlantic Ocean.
- Remodeled kitchens, bathrooms, and flooring in all units.
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
Location Intelligence
Trade Area within ½ mile
1,279
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Waterfront apartment building with dock and ocean access.
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: Deep water access with no fixed bridges to the ocean.; Dock with water and electric, navigable to the Atlantic Ocean.; Remodeled kitchens, bathrooms, and flooring in all units.
