14-Unit Apartment
For Sale
$3,650,000
3213 SE 12th St, Pompano Beach, FL 33062
Barrier-island apartments feature central air conditioning and heat, with beach access within about a block.
Property Size9,520 SF
Lot Size0.31 Acres
Days on Market153
Property Features for 3213 SE 12th St
General Information
Standard status
Active
Size
9,520 SF
Lot size
0.31 Acres
Property subtype
Multifamily
Occupancy
100%
Financials
Asking Price
$3,650,000
Cap Rate
3.12%
Units
Unit Mix
12 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
14
Additional Details
Road Access
Yes
Amenities
Excellent location, one block from the ocean
Close to both entertainment areas of Lauderdale by the Sea and Pompano Pier
Just west of A1A
Very clean, well-maintained building
Central air-conditioning and heat
Updated kitchens and bathrooms
Onsite laundry rooms and parking
Building Details
Building Size
9,520 SF
Year Built
1971
Units
14
Listing Agency:
Fort Lauderdale Office
(954) 245-3400
Listed By:
Felipe J. Echarte · License #FL: SL696115
(954) 245-3444
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 8:49PM
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 Fort Lauderdale Office
Investment Insights
Based on property information with market context.
This 14-unit apartment property includes 12 one-bedroom, one-bathroom residences of about 655 SF and two two-bedroom, one-bathroom residences of about 830 SF. Each unit has central air conditioning and heat, with many systems recently replaced. Water, sewer, and trash service are included in the rent. Constructed in 1971, the building occupies a .31-acre site.
The property is located at 3213 SE 12th St in Pompano Beach, east of A1A and the Intracoastal Waterway, between Atlantic Boulevard and Lauderdale by the Sea. The beach and Atlantic Ocean are approximately a block away. The surrounding area includes low-density residential buildings, low-rise condominiums, single-family homes, hotels, resorts, and high-rise condominiums along A1A.
The property is located at 3213 SE 12th St in Pompano Beach, east of A1A and the Intracoastal Waterway, between Atlantic Boulevard and Lauderdale by the Sea. The beach and Atlantic Ocean are approximately a block away. The surrounding area includes low-density residential buildings, low-rise condominiums, single-family homes, hotels, resorts, and high-rise condominiums along A1A.
Key Highlights
- 14‑unit apartment property on a .31‑acre site
- Unit mix includes 12 one‑bedroom/one‑bathroom units and two two‑bedroom/one‑bathroom units
- 12 one‑bedroom units measure about 655 SF; two two‑bedroom units measure about 830 SF
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
$146,241
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
4.01%
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%
$2,924,820
$2.9M
Cap Rate 7%
$2,089,157
$2.1M
Cap Rate 9%
$1,624,900
$1.6M
Market Conditions
NOI Build-Up for 9,520 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
$279.9K $29.40/SF
− Vacancy
−$14.0K −$1.47/SF
EGI
$265.9K $27.93/SF
− OpEx
−$119.7K −$12.57/SF
NOI
$146.2K $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%
$2,924,820
Cap Rate 7%
$2,089,157
Cap Rate 9%
$1,624,900
Alternative Uses
Best Use
Apartment 5plus
$2.09M
$1.83M – $2.44M
NOI $146,241 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.71M
$3.25M – $4.33M
NOI $259,896 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
741
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Barrier-island apartments feature central air conditioning and heat, with beach access within about a block.
Where is this apartment building located?
The property is located at 3213 SE 12th St Pompano Beach, FL.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: 14‑unit apartment property on a .31‑acre site; Unit mix includes 12 one‑bedroom/one‑bathroom units and two two‑bedroom/one‑bathroom units; 12 one‑bedroom units measure about 655 SF; two two‑bedroom units measure about 830 SF
