Fully Fenced Triplex with
For Sale
Contact for pricing
151 SW 15th Street, Pompano Beach, FL 33060
Three separate units in a fully fenced triplex, including a 2-bedroom unit with a private fenced yard.
Property Size1,982 SF
Price / SF$353.18
Days on Market190
Property Features for 151 SW 15th Street
General Information
Standard status
Active
Size
1,982 SF
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
3
Building Details
Year Built
1972
Listing Agency:
Pompano Beach Realty
Listed By:
Roxanne Hall · License #3410168
Source:
Crexi
Added: Jan 30
Changed: Jul 10
Last Checked: Aug 7 at 10:03AM
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 Pompano Beach Realty
Investment Insights
Based on property information with market context.
This fully fenced triplex includes three separate residential units, each laid out with spacious living rooms, bedrooms, and kitchens with eat-in areas. The property is configured to support independent occupancy across the three units, offering flexibility for either multi-tenant investment use or owner occupancy with rental income from additional units. One unit is a 2-bedroom home and features a private fenced yard, providing an additional outdoor space option for that residence.
The property is located near shopping and dining, as well as beaches and major highways, supporting convenient daily access for residents. The fully fenced setting also reinforces privacy and controlled access for the overall property.
For buyers seeking a small multi-family asset with straightforward unit separation, this triplex presents an owner-and-tenant or all-units-rented approach. Each unit includes core living and cooking space with eat-in kitchen areas, which can simplify tenant fit. The sale is described as cash only in the listing remarks, so prospective purchasers should plan accordingly before underwriting and scheduling due diligence.
The property is located near shopping and dining, as well as beaches and major highways, supporting convenient daily access for residents. The fully fenced setting also reinforces privacy and controlled access for the overall property.
For buyers seeking a small multi-family asset with straightforward unit separation, this triplex presents an owner-and-tenant or all-units-rented approach. Each unit includes core living and cooking space with eat-in kitchen areas, which can simplify tenant fit. The sale is described as cash only in the listing remarks, so prospective purchasers should plan accordingly before underwriting and scheduling due diligence.
Key Highlights
- Fully fenced triplex built in 1972 with three separate units
- Each unit includes a spacious living room, bedroom(s), and a kitchen with an eat‑in area
- 2‑bedroom unit features a private fenced yard
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
$33,144
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
4.73%
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%
$662,880
$662.9K
Cap Rate 7%
$473,486
$473.5K
Cap Rate 9%
$368,267
$368.3K
Market Conditions
NOI Build-Up for 1,982 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
$49.9K $25.20/SF
− Vacancy
−$2.6K −$1.31/SF
EGI
$47.3K $23.89/SF
− OpEx
−$14.2K −$7.17/SF
NOI
$33.1K $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%
$662,880
Cap Rate 7%
$473,486
Cap Rate 9%
$368,267
Alternative Uses
Best Use
Multifamily LT 5
$473.5K
$414.3K – $552.4K
NOI $33,144 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$434.9K
$380.6K – $507.4K
NOI $30,446 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$773.0K
$676.4K – $901.8K
NOI $54,109 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,275
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?
Triplex - Three separate units in a fully fenced triplex, including a 2-bedroom unit with a private fenced yard.
Where is this triplex located?
The property is located at 151 SW 15th Street Pompano Beach, FL.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: Fully fenced triplex built in 1972 with three separate units; Each unit includes a spacious living room, bedroom(s), and a kitchen with an eat‑in area; 2‑bedroom unit features a private fenced yard
