22-Unit Apartment
For Sale
$4,000,000
301 NW 32nd Ct #1-22, Pompano Beach, FL 33064
All residences feature two bedrooms, two bathrooms, and oversized layouts suited to spacious apartment living.
Property Size16,679 SF
Lot Size1.00 Acre
Price / SF$239.82
Days on Market23
Property Features for 301 NW 32nd Ct #1-22
General Information
Standard status
Active
Size
16,679 SF
Lot size
1.00 Acre
Property subtype
Commercial
Units
Unit Mix
22 x 2BR/2BA
Multifamily Units
22
Additional Details
Gross Income
$396,318
Highway Access
Yes
Amenities
Central air
Central Air Cooling
Central Heating
Building Details
Year Built
1975
Listing Agency:
FAUSTO COMMERCIAL REALTY CONSULTANTS INC
Listed By:
ELIOR LEVI · License #A12074813
(954) 743-7594
Source:
Corcoran
Added: Aug 28
Changed: Sep 18
Last Checked: Sep 19 at 5:35AM
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 FAUSTO COMMERCIAL REALTY CONSULTANTS INC
Investment Insights
Based on property information with market context.
Olive Glenn Apartments is a 22-unit multifamily property with approximately 16,679 square feet of building area on a 43,552-square-foot lot. The unit mix is uniform, with every residence configured as a two-bedroom, two-bathroom apartment. Built in 1975, the property includes oversized layouts designed around spacious living areas.
The property is located in Pompano Beach near I-95 and Atlantic Boulevard, with access to Downtown Pompano Beach, retail corridors, employment centers, and the Pompano Beach waterfront. The 22-unit property may also be acquired with an adjacent 24-unit multifamily property, creating a combined 46-unit portfolio.
The property is located in Pompano Beach near I-95 and Atlantic Boulevard, with access to Downtown Pompano Beach, retail corridors, employment centers, and the Pompano Beach waterfront. The 22-unit property may also be acquired with an adjacent 24-unit multifamily property, creating a combined 46-unit portfolio.
Key Highlights
- 22‑unit apartment property with approximately 16,679 SF of building area
- All 22 units offer a two‑bedroom, two‑bathroom layout
- Oversized apartment layouts provide spacious living areas
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
$256,214
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
6.41%
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%
$5,124,280
$5.1M
Cap Rate 7%
$3,660,200
$3.7M
Cap Rate 9%
$2,846,822
$2.8M
Market Conditions
NOI Build-Up for 16,679 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
$490.4K $29.40/SF
− Vacancy
−$24.5K −$1.47/SF
EGI
$465.8K $27.93/SF
− OpEx
−$209.6K −$12.57/SF
NOI
$256.2K $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 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%
$5,124,280
Cap Rate 7%
$3,660,200
Cap Rate 9%
$2,846,822
Alternative Uses
Best Use
Apartment 5plus
$3.66M
$3.20M – $4.27M
NOI $256,214 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.50M
$5.69M – $7.59M
NOI $455,337 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
22
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
874
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?
Apartment building - All residences feature two bedrooms, two bathrooms, and oversized layouts suited to spacious apartment living.
Where is this apartment building located?
The property is located at 301 NW 32nd Ct #1-22 Pompano Beach, FL.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 22‑unit apartment property with approximately 16,679 SF of building area; All 22 units offer a two‑bedroom, two‑bathroom layout; Oversized apartment layouts provide spacious living areas
