Waterfront Quadplex with Private
For Sale
$3,600,000
2735 NE 28 Court, Lighthouse Point, FL 33064
Residential Income, Lighthouse Point, FL
Property Size6,390 SF
Price / SF$563.38
Days on Market334
Property Features for 2735 NE 28 Court
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
08
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 3, Bedroom 7, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 6, Bedroom 5, Bathroom 1, Bathroom 6, Bedroom 1, Bathroom 4, Bathroom 2, Bedroom 8, Bathroom 5
Patio and Porch features
Deck
Pool private
1
Directions
Sample Rd South (RT) NE 23 Ave. @nd Exit at traffic circle, NE 27 St stay toward the left and continue straight. Property will be on left (east side)
Subdivision
3222
Standard status
Active
APN
484319020880
Size
6,390 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
LIGHTHOUSE POINT 2ND SEC 31-40 B LOT 13 BLK 7
Tax Annual Amount
45381
Legal Description
LIGHTHOUSE POINT 2ND SEC 31-40 B LOT 13 BLK 7
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Water front features
Ocean Access
Water front
1
Amenities
private pool
private dock
Building Details
Year built
1964
Floors in Building
2
Number of units
4
Flooring type
Tile
Building materials
CBS
Roof type
Concrete
Listing Agency:
RealVantage Real Estate Corp.
(561) 392-0443
Listed By:
Donna L Greenberg · License #3032272
(561) 859-9959
Added: Oct 29, 2025
Changed: Sep 13
Last Checked: Sep 27 at 6:06PM
MLS# R11136219
Copyright © 2026 BeachesMLS. 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.
This waterfront quadplex contains 6390 square feet and was built in 1964 with CBS construction, tile flooring, central heating, central air, and a concrete roof. The property includes a private pool, deck, ocean access, and a 100-foot dock positioned on deep water. Public water and sewer serve the site.
Direct access to the ocean is available without fixed bridges. The property is located at 2735 NE 28 Court in Lighthouse Point, near a marina, waterfront dining, and the ocean. Bayou frontage provides water views and regular boat activity along Cap Knight Bayou.
Direct access to the ocean is available without fixed bridges. The property is located at 2735 NE 28 Court in Lighthouse Point, near a marina, waterfront dining, and the ocean. Bayou frontage provides water views and regular boat activity along Cap Knight Bayou.
Key Highlights
- 6390‑square‑foot quadplex built in 1964
- 100‑foot private dock on deep water
- Ocean access without fixed bridges
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
$106,520
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
2.96%
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%
$2,130,400
$2.1M
Cap Rate 7%
$1,521,714
$1.5M
Cap Rate 9%
$1,183,556
$1.2M
Market Conditions
NOI Build-Up for 6,390 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
$161.0K $25.20/SF
− Vacancy
−$8.9K −$1.39/SF
EGI
$152.2K $23.81/SF
− OpEx
−$45.7K −$7.14/SF
NOI
$106.5K $16.67/SF
Area
Broward County, FL
Vacancy
5.50%
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%
$2,130,400
Cap Rate 7%
$1,521,714
Cap Rate 9%
$1,183,556
Alternative Uses
Best Use
Multifamily LT 5
$1.52M
$1.33M – $1.78M
NOI $106,520 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$1.40M
$1.23M – $1.64M
NOI $98,274 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$3.24M
$2.84M – $3.78M
NOI $226,934 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
Explore this area
Business Placement
Demographics for 33064, FL
62,429
Population
26,641
Households
2.3
Avg Household Size
39
Median Age
29%
College-Educated
82%
High-School Grad
10.2 sq mi
ZIP Area
6,120
Density / Sq Mi
$66,269
Median Household Income
$35,090
Median Earnings
$1,689
Median Rent
$293,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Waterfront property with private dock, pool, public utilities, and direct ocean access through deep water without fixed bridges.
Where is this quadplex located?
The property is located at 2735 NE 28 Court Lighthouse Point, FL.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 6390‑square‑foot quadplex built in 1964; 100‑foot private dock on deep water; Ocean access without fixed bridges
