Triplexes with Swimming
For Sale
$1,649,000
3209 NE 7th Place, Pompano Beach, FL 33062
Six-unit apartment property with upgraded interiors, two lots, and month-to-month occupancy.
Property Size4,653 SF
Lot Size0.38 Acres
Price / SF$354.40
Days on Market25
Property Features for 3209 NE 7th Place
General Information
Standard status
Active
Size
4,653 SF
Lot size
0.38 Acres
Property subtype
Multi Family
Zoning
RM20
Amenities
swimming pool
Building Details
Year Built
1956
Buildings
2
Tenancy
Multi
Listing Agency:
The Keyes Company
(954) 563-6800
Listed By:
Ross Z Herman · License #B26030571
(954) 563-6800
Source:
Lehmannflorida
Added: Jul 31
Changed: Aug 23
Last Checked: Aug 24 at 5:57AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This garden-style apartment property includes two side-by-side triplex buildings totaling six units across two lots. Built in 1956, the complex features a swimming pool, premium tile flooring, remodeled kitchens and bathrooms, and partially furnished apartments. The units are leased annually, with existing leases expired and occupancy continuing on a month-to-month basis.
The property is located at 3209-3213 NE 7 Place in Pompano Beach, approximately ½ block west of the Ocean and east of the Intracoastal. RM20 zoning and 16,400 SF of land area provide a defined land-use framework for the site. Walkability is rated 40, bikeability 51, and transit access 28.
The property is located at 3209-3213 NE 7 Place in Pompano Beach, approximately ½ block west of the Ocean and east of the Intracoastal. RM20 zoning and 16,400 SF of land area provide a defined land-use framework for the site. Walkability is rated 40, bikeability 51, and transit access 28.
Key Highlights
- Six‑unit apartment complex consisting of two side‑by‑side triplex buildings
- RM20 zoning with 16,400 SF of land area
- Swimming pool and two lots included
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
$77,811
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
4.72%
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%
$1,556,220
$1.6M
Cap Rate 7%
$1,111,586
$1.1M
Cap Rate 9%
$864,567
$864.6K
Market Conditions
NOI Build-Up for 4,653 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
$117.3K $25.20/SF
− Vacancy
−$6.1K −$1.31/SF
EGI
$111.2K $23.89/SF
− OpEx
−$33.3K −$7.17/SF
NOI
$77.8K $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%
$1,556,220
Cap Rate 7%
$1,111,586
Cap Rate 9%
$864,567
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$972.6K – $1.30M
NOI $77,811 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$1.02M
$893.5K – $1.19M
NOI $71,477 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $127,027 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
824
Businesses Nearby
Explore this area
Business Placement
Demographics for 33062, FL
25,293
Population
23,059
Households
1.1
Avg Household Size
60
Median Age
48%
College-Educated
94%
High-School Grad
3.9 sq mi
ZIP Area
6,485
Density / Sq Mi
$82,955
Median Household Income
$56,828
Median Earnings
$1,888
Median Rent
$511,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Six-unit apartment property with upgraded interiors, two lots, and month-to-month occupancy.
Where is this triplex located?
The property is located at 3209 NE 7th Place Pompano Beach, FL.
What is the asking price?
The asking price for this property is $1,649,000.
What are key features of this property?
This property features: Six‑unit apartment complex consisting of two side‑by‑side triplex buildings; RM20 zoning with 16,400 SF of land area; Swimming pool and two lots included
