20-Unit Apartment Building, CBS
For Sale
$4,750,000
2275 NE 12TH Street, Pompano Beach, FL 33062
Stabilized 20-unit apartment building with a one- and two-bedroom mix on two contiguous parcels zoned RM-20.
Property Size11,165 SF
Lot Size0.42 Acres
Price / SF$425.44
Days on Market99
Property Features for 2275 NE 12TH Street
General Information
Standard status
Active
Size
11,165 SF
Lot size
0.42 Acres
Property subtype
Multi Family
Zoning
RM-20
Units
Unit Mix
18 x 1BR, 2 x 2BR
Multifamily Units
20
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$63,687
Building Details
Building Size
11,165 SF
Year Built
1958
Buildings
2
Construction
CBS
Listing Agency:
Nicklaus Vance
Listed By:
Casey M Prindle · License #3223583
(786) 443-7203
Source:
Pamandtoni
Added: Jul 28
Changed: Nov 2
Last Checked: Nov 1 at 11:17AM
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 Nicklaus Vance
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Investment Insights
Based on property information with market context.
This stabilized 20-unit apartment building is built with CBS construction and arranged across two buildings on two contiguous parcels totaling 18,112 SF. The unit mix includes 18 one-bedroom units and 2 two-bedroom units, designed to support straightforward multifamily leasing.
The property is located east of Federal Hwy in Pompano Beach, minutes to the beach and the Intracoastal. It is also positioned to benefit from proximity to the downtown core redevelopment. Bike and walk access is moderate, with BikeScore of 51 and walkScore of 40, while transitScore is 28.
Zoned RM-20, the site’s configuration and existing income stream can support a long-term operating strategy with lease renewals.
The property is located east of Federal Hwy in Pompano Beach, minutes to the beach and the Intracoastal. It is also positioned to benefit from proximity to the downtown core redevelopment. Bike and walk access is moderate, with BikeScore of 51 and walkScore of 40, while transitScore is 28.
Zoned RM-20, the site’s configuration and existing income stream can support a long-term operating strategy with lease renewals.
Key Highlights
- 20 units: 18 one‑bedroom and 2 two‑bedroom units
- CBS construction across two buildings
- Two contiguous parcels totaling 18,112 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$171,511
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,430,220
$3.4M
Cap Rate 7%
$2,450,157
$2.5M
Cap Rate 9%
$1,905,678
$1.9M
Market Conditions
NOI Build-Up for 11,165 SF
Gross rent
$328.3K $29.40/SF
− Vacancy
−$16.4K −$1.47/SF
EGI
$311.8K $27.93/SF
− OpEx
−$140.3K −$12.57/SF
NOI
$171.5K $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 Rate 5%
$3,430,220
Cap Rate 7%
$2,450,157
Cap Rate 9%
$1,905,678
Alternative Uses
Best Use
Apartment 5plus
$2.45M
$2.14M – $2.86M
NOI $171,511 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.35M
$3.81M – $5.08M
NOI $304,805 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
1,001
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Stabilized 20-unit apartment building with a one- and two-bedroom mix on two contiguous parcels zoned RM-20.
Where is this apartment building located?
The property is located at 2275 NE 12TH Street Pompano Beach, FL.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: 20 units: 18 one‑bedroom and 2 two‑bedroom units; CBS construction across two buildings; Two contiguous parcels totaling 18,112 SF
