Renovated
For Sale
$799,999
229 NW 12th Court, Pompano Beach, FL 33060
Three leased residences offer updated interiors and convenient access to beach, retail, dining, and major highways.
Property Size2,072 SF
Price / SF$386.10
Days on Market43
Property Features for 229 NW 12th Court
General Information
Standard status
Active
Size
2,072 SF
Property subtype
Triplex
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,270
Building Details
Building Size
2,072 SF
Year Built
1985
Buildings
1
Listing Agency:
Preferred Properties Int'l Rea
(954) 825-6789
Listed By:
Tiwana D Holmes · License #3345100
(954) 825-6789
Source:
Pamandtoni
Added: Jun 26
Changed: Aug 3
Last Checked: Aug 7 at 1:50AM
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 Preferred Properties Int'l Rea
Investment Insights
Based on property information with market context.
This renovated triplex contains three residences, each configured with two bedrooms and one bathroom. Interior improvements include remodeled kitchens with new cabinetry and countertops, refreshed bathrooms, updated flooring, and fresh paint. The property was built in 1985, and all units are currently leased.
The address is in Pompano Beach, with the beach, shopping, dining, and major highways located minutes away. Buildings 225, 229, 233, and 237 are available together as a package, providing an additional acquisition option for buyers evaluating multiple properties.
The address is in Pompano Beach, with the beach, shopping, dining, and major highways located minutes away. Buildings 225, 229, 233, and 237 are available together as a package, providing an additional acquisition option for buyers evaluating multiple properties.
Key Highlights
- Three‑unit triplex with 2 bedrooms and 1 bathroom per unit
- Renovated kitchens, bathrooms, flooring, and interior paint
- All units leased
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
$34,649
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
4.33%
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%
$692,980
$693.0K
Cap Rate 7%
$494,986
$495.0K
Cap Rate 9%
$384,989
$385.0K
Market Conditions
NOI Build-Up for 2,072 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
$52.2K $25.20/SF
− Vacancy
−$2.7K −$1.31/SF
EGI
$49.5K $23.89/SF
− OpEx
−$14.8K −$7.17/SF
NOI
$34.6K $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%
$692,980
Cap Rate 7%
$494,986
Cap Rate 9%
$384,989
Alternative Uses
Best Use
Multifamily LT 5
$495.0K
$433.1K – $577.5K
NOI $34,649 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$454.7K
$397.9K – $530.5K
NOI $31,829 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$808.1K
$707.1K – $942.8K
NOI $56,566 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
792
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 leased residences offer updated interiors and convenient access to beach, retail, dining, and major highways.
Where is this triplex located?
The property is located at 229 NW 12th Court Pompano Beach, FL.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Three‑unit triplex with 2 bedrooms and 1 bathroom per unit; Renovated kitchens, bathrooms, flooring, and interior paint; All units leased
