Leased Duplex on RM-12
For Sale
Contact for pricing
2261 NW 2nd Street, Pompano Beach, FL 33069
Duplex with both units leased on a multi-family zoned lot, featuring shared water service and separate electric panels.
Property Size989 SF
Lot Size0.25 Acres
Price / SF$404.35
Days on Market150
Property Features for 2261 NW 2nd Street
General Information
Standard status
Active
Size
989 SF
Lot size
0.25 Acres
Property subtype
Multifamily
Zoning
RM-12
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1959
Units
2
Tenancy
Multi
Listing Agency:
EXP Realty LLC
(561) 541-9235
Listed By:
Miguel Navarro P.A. · License #3282725
Source:
Crexi
Added: Mar 12
Changed: Aug 7
Last Checked: Aug 7 at 9:20AM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This income-producing duplex includes two rented units on a nearly 0.25-acre lot. The property is configured as a two-unit residential structure with shared water service and two separate electrical panels, providing distinct electrical metering for each unit.
The duplex is zoned RM-12 (multi-family), and it is located in Pompano Beach, Florida. The seller notes there is ongoing development in the surrounding area, and buyers are instructed to drive by first before requesting a showing.
For investors or owner-operators seeking a property with both units already leased, this duplex offers an established residential income setup. The RM-12 zoning and multi-family designation may also support a range of planning considerations for future use. All information should be verified by the buyer and agent with the City of Pompano Beach before proceeding.
The duplex is zoned RM-12 (multi-family), and it is located in Pompano Beach, Florida. The seller notes there is ongoing development in the surrounding area, and buyers are instructed to drive by first before requesting a showing.
For investors or owner-operators seeking a property with both units already leased, this duplex offers an established residential income setup. The RM-12 zoning and multi-family designation may also support a range of planning considerations for future use. All information should be verified by the buyer and agent with the City of Pompano Beach before proceeding.
Key Highlights
- Income‑producing duplex built in 1959 with both units currently leased
- Duplex sits on nearly a 0.25‑acre lot zoned RM‑12 (multi‑family)
- Shared water meter serving both 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
$16,539
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
4.14%
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%
$330,780
$330.8K
Cap Rate 7%
$236,271
$236.3K
Cap Rate 9%
$183,767
$183.8K
Market Conditions
NOI Build-Up for 989 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
$24.9K $25.20/SF
− Vacancy
−$1.3K −$1.31/SF
EGI
$23.6K $23.89/SF
− OpEx
−$7.1K −$7.17/SF
NOI
$16.5K $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%
$330,780
Cap Rate 7%
$236,271
Cap Rate 9%
$183,767
Alternative Uses
Best Use
Multifamily LT 5
$236.3K
$206.7K – $275.7K
NOI $16,539 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$217.0K
$189.9K – $253.2K
NOI $15,193 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$385.7K
$337.5K – $450.0K
NOI $27,000 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,016
Businesses Nearby
Explore this area
Business Placement
Demographics for 33069, FL
28,817
Population
16,052
Households
1.8
Avg Household Size
42
Median Age
32%
College-Educated
86%
High-School Grad
9.4 sq mi
ZIP Area
3,066
Density / Sq Mi
$57,462
Median Household Income
$35,725
Median Earnings
$1,685
Median Rent
$253,000
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?
Duplex - Duplex with both units leased on a multi-family zoned lot, featuring shared water service and separate electric panels.
Where is this duplex located?
The property is located at 2261 NW 2nd Street Pompano Beach, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Income‑producing duplex built in 1959 with both units currently leased; Duplex sits on nearly a 0.25‑acre lot zoned RM‑12 (multi‑family); Shared water meter serving both units
