Leased Triplex with Tile
New
For Sale
$750,000
231 SW 8th Ct, Pompano Beach, FL 33060
Residential Income, Pompano Beach, FL
Property Size2,219 SF
Price / SF$337.99
Days on Market2
Property Features for 231 SW 8th Ct
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
RM-20
Bedrooms
6
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 6
Parking
6
Subdivision
CYPRESS PLAZA ANNEX
Standard status
Active
APN
494202250160
Size
2,219 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
CYPRESS PLAZA ANNEX 60-17 B LOT 12 BLK 2
Tax Annual Amount
9158
Legal Description
CYPRESS PLAZA ANNEX 60-17 B LOT 12 BLK 2
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1971
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Tile, Flat
Listing Agency:
SAMOVEY Realty
(954) 730-5511
Listed By:
Glabedys Grisales · License #3410949
(754) 281-1060
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 4:06PM
MLS# A12080323
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 231 SW 8th Ct in Pompano Beach, this triplex contains 2,219 square feet within a block-constructed building completed in 1971. The property includes three residential units, each configured with two bedrooms and one bathroom, for a total of six bedrooms and three bathrooms.
Tile flooring extends throughout the units, while central heating and central air conditioning serve the building. The property has public sewer service, cable availability, and a roof incorporating both tile and flat sections. Shopping, dining, parks, schools, and hospitals are identified nearby, with access to I-95 and the Florida Turnpike. The beach is also described as minutes away. All units are currently leased.
Tile flooring extends throughout the units, while central heating and central air conditioning serve the building. The property has public sewer service, cable availability, and a roof incorporating both tile and flat sections. Shopping, dining, parks, schools, and hospitals are identified nearby, with access to I-95 and the Florida Turnpike. The beach is also described as minutes away. All units are currently leased.
Key Highlights
- 2,219‑square‑foot triplex with three residential units
- Three 2‑bedroom, 1‑bath units; six bedrooms and three bathrooms total
- All units are currently 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
$37,108
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
4.95%
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%
$742,160
$742.2K
Cap Rate 7%
$530,114
$530.1K
Cap Rate 9%
$412,311
$412.3K
Market Conditions
NOI Build-Up for 2,219 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
$55.9K $25.20/SF
− Vacancy
−$2.9K −$1.31/SF
EGI
$53.0K $23.89/SF
− OpEx
−$15.9K −$7.17/SF
NOI
$37.1K $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%
$742,160
Cap Rate 7%
$530,114
Cap Rate 9%
$412,311
Alternative Uses
Best Use
Multifamily LT 5
$530.1K
$463.9K – $618.5K
NOI $37,108 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$487.0K
$426.1K – $568.1K
NOI $34,087 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$865.4K
$757.2K – $1.01M
NOI $60,579 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,448
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 residential units are currently leased in a block building with central HVAC.
Where is this triplex located?
The property is located at 231 SW 8th Ct Pompano Beach, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,219‑square‑foot triplex with three residential units; Three 2‑bedroom, 1‑bath units; six bedrooms and three bathrooms total; All units are currently leased
