11-Unit Multifamily Apartment
For Sale
Contact for pricing
3226 NE 12th St, Pompano Beach, FL 33062
11-unit multifamily property with studios and 1–3 bedroom units, plus a pool and on-site laundry room.
Property Size6,748 SF
Lot Size0.28 Acres
Price / SF$364.55
Days on Market187
Property Features for 3226 NE 12th St
General Information
Standard status
Active
Size
6,748 SF
Class
B
Lot size
0.28 Acres
Property subtype
Multifamily
Occupancy
90%
Investment Type
Value Add
Net Operating Income
$127,429
Additional Details
Multifamily Units
11
Amenities
swimming pool
laundry room
Building Details
Year Built
1965
Buildings
1
Stories
2
Units
11
Listing Agency:
Marcus & Millichap - Fort Lauderdale
Listed By:
Evan Richardson · License #FL SL3134745
Source:
Crexi
Added: Mar 5
Changed: Sep 5
Last Checked: Sep 8 at 3:49AM
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 Marcus & Millichap - Fort Lauderdale
Investment Insights
Based on property information with market context.
Pompano By The Sea Apartments is an 11-unit multifamily property built in 1965, totaling 6,748 square feet on a 0.28-acre lot. The unit mix includes three studio units, seven one-bedroom/one-bath units, and one three-bedroom/two-bath unit, creating a range of apartment sizes for different household needs. The building features a pitched composite shingle roof and wall-unit air conditioning. On-site amenities include a swimming pool and a laundry room. Recent interior upgrades include LVT flooring, wood cabinetry, and granite countertops.
The property is located east of Federal Highway and is described as being minutes from the Pompano Beach shoreline, Fisher Family Pier, and the redeveloped Pompano Beach Fishing Village.
Currently operated as annual rentals, the offering notes that the property’s proximity to beach and tourist-driven amenities may support repositioning to short-term rentals, subject to applicable approvals and operations.
The property is located east of Federal Highway and is described as being minutes from the Pompano Beach shoreline, Fisher Family Pier, and the redeveloped Pompano Beach Fishing Village.
Currently operated as annual rentals, the offering notes that the property’s proximity to beach and tourist-driven amenities may support repositioning to short-term rentals, subject to applicable approvals and operations.
Key Highlights
- 11‑unit multifamily property built in 1965 totaling 6,748 SF on a 0.28‑acre lot
- Unit mix includes 3 studios (436 SF), 7 one‑bedroom/one‑bath units (620 SF), and 1 three‑bedroom/two‑bath unit (1,100 SF)
- On‑site amenities include a swimming pool and a laundry room
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
$103,659
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
4.21%
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%
$2,073,180
$2.1M
Cap Rate 7%
$1,480,843
$1.5M
Cap Rate 9%
$1,151,767
$1.2M
Market Conditions
NOI Build-Up for 6,748 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
$198.4K $29.40/SF
− Vacancy
−$9.9K −$1.47/SF
EGI
$188.5K $27.93/SF
− OpEx
−$84.8K −$12.57/SF
NOI
$103.7K $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%
$2,073,180
Cap Rate 7%
$1,480,843
Cap Rate 9%
$1,151,767
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,659 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.63M
$2.30M – $3.07M
NOI $184,220 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
990
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?
Apartment building - 11-unit multifamily property with studios and 1–3 bedroom units, plus a pool and on-site laundry room.
Where is this apartment building located?
The property is located at 3226 NE 12th St Pompano Beach, FL.
What is the asking price?
The asking price for this property is $2,460,000.
What are key features of this property?
This property features: 11‑unit multifamily property built in 1965 totaling 6,748 SF on a 0.28‑acre lot; Unit mix includes 3 studios (436 SF), 7 one‑bedroom/one‑bath units (620 SF), and 1 three‑bedroom/two‑bath unit (1,100 SF); On‑site amenities include a swimming pool and a laundry room
