Block Triplex With Central
For Sale
$585,000
3024 NW 2nd St, Pompano Beach, FL 33069
Residential Income, Pompano Beach, FL
Property Size1,914 SF
Price / SF$305.64
Days on Market37
Property Features for 3024 NW 2nd St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
RD-1
Bedrooms
7
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 7, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 4
Parking
4
Subdivision
o33-48-42 W 50 OF E 385 O
Lot features
< 1/4 Acre
Standard status
Active
APN
484233047650
Size
1,914 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
33-48-42 W 50 OF E 385 OF S1/5 OF NE1/4 OF SW1/4 OF SW1/4 LESS N 25 FOR ST A/K/A 1152 CC
Tax Annual Amount
10974
Legal Description
33-48-42 W 50 OF E 385 OF S1/5 OF NE1/4 OF SW1/4 OF SW1/4 LESS N 25 FOR ST A/K/A 1152 CC
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1966
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Florida Brokers Real Estate
(954) 640-9111
Listed By:
Natasha Olsak · License #3421435
(561) 305-0084
Added: Jul 18
Changed: Aug 20
Last Checked: Aug 23 at 8:06AM
MLS# A12048894
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.
This 1,914-square-foot triplex contains three rented units within a block-built property constructed in 1966. Interior features include tile flooring, central heating, central air conditioning, three bathrooms, and multiple bedrooms. The property is served by public sewer, with cable available.
The building is offered as-is. Its shingle roof dates to 2006 and requires work, while most air-conditioning systems were installed between 2018 and 2020 and most water heaters date from 2017 to 2020. New ductwork is also noted. One AC violation remains pending closure. The city requires mandatory 24/7 security cameras, and showings are limited to accepted-offer situations.
The building is offered as-is. Its shingle roof dates to 2006 and requires work, while most air-conditioning systems were installed between 2018 and 2020 and most water heaters date from 2017 to 2020. New ductwork is also noted. One AC violation remains pending closure. The city requires mandatory 24/7 security cameras, and showings are limited to accepted-offer situations.
Key Highlights
- Three‑unit triplex with all units rented
- 1,914 square feet; built in 1966
- Block construction with tile flooring
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
$32,007
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
5.47%
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%
$640,140
$640.1K
Cap Rate 7%
$457,243
$457.2K
Cap Rate 9%
$355,633
$355.6K
Market Conditions
NOI Build-Up for 1,914 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
$48.2K $25.20/SF
− Vacancy
−$2.5K −$1.31/SF
EGI
$45.7K $23.89/SF
− OpEx
−$13.7K −$7.17/SF
NOI
$32.0K $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%
$640,140
Cap Rate 7%
$457,243
Cap Rate 9%
$355,633
Alternative Uses
Best Use
Multifamily LT 5
$457.2K
$400.1K – $533.5K
NOI $32,007 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$420.0K
$367.5K – $490.0K
NOI $29,402 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$746.5K
$653.2K – $870.9K
NOI $52,252 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,166
Businesses Nearby
Explore this area
Business Placement
Demographics for 33069, FL
28,817
Population
16,052
Households
1.8
Avg Household Size
42
Median Age
32%
College-Educated
86%
High-School Grad
9.4 sq mi
ZIP Area
3,066
Density / Sq Mi
$57,462
Median Household Income
$35,725
Median Earnings
$1,685
Median Rent
$253,000
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 - All three units are rented and feature tile flooring with central air conditioning.
Where is this triplex located?
The property is located at 3024 NW 2nd St Pompano Beach, FL.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Three‑unit triplex with all units rented; 1,914 square feet; built in 1966; Block construction with tile flooring
