RM-45 Zoned Development
For Sale
$3,350,000
Pending
330 Sunset Drive, Pompano Beach, FL 33062
Two existing buildings contain six rental units and generate income ahead of future construction.
Property Size18,632 SF
Days on Market976
Property Features for 330 Sunset Drive
General Information
Standard status
Pending
Size
18,632 SF
Property subtype
Land-Commercial/Business/Agricultural/Industrial / Income/Multi Family
Taxes and HOA fees
Annual Taxes
$30,540
Listing Agency:
LL10X Realty
Listed By:
Paola Guzzo · License #3461469
(954) 882-2015
Source:
Compass
Added: Jan 1, 2024
Changed: Aug 30
Last Checked: Sep 1 at 11:44PM
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 LL10X Realty
Investment Insights
Based on property information with market context.
This RM-45-zoned development site includes two existing buildings with a combined six rental units, providing an income-producing configuration before redevelopment. The property size is 18,632 SF, and available plans support multiple future concepts, including a seven-story condominium with 19 units or a 38-unit condominium-hotel. The site plan was approved through September 2024.
The property is located at 330 Sunset Drive in Pompano Beach, within steps of the beach, the Fishing Village, shopping, restaurants, and the remodeled Pompano Beach Pier. Available development plans can be provided upon request.
The property is located at 330 Sunset Drive in Pompano Beach, within steps of the beach, the Fishing Village, shopping, restaurants, and the remodeled Pompano Beach Pier. Available development plans can be provided upon request.
Key Highlights
- RM‑45 zoning with plans for a seven‑story, 19‑unit condominium
- Alternative concept supports a 38‑unit condominium‑hotel
- Two existing buildings with 6 rental units
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
$286,215
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
8.54%
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%
$5,724,300
$5.7M
Cap Rate 7%
$4,088,786
$4.1M
Cap Rate 9%
$3,180,167
$3.2M
Market Conditions
NOI Build-Up for 18,632 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
$547.8K $29.40/SF
− Vacancy
−$27.4K −$1.47/SF
EGI
$520.4K $27.93/SF
− OpEx
−$234.2K −$12.57/SF
NOI
$286.2K $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%
$5,724,300
Cap Rate 7%
$4,088,786
Cap Rate 9%
$3,180,167
Alternative Uses
Best Use
Apartment 5plus
$4.09M
$3.58M – $4.77M
NOI $286,215 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.27M
$6.36M – $8.48M
NOI $508,654 @ 7.0% cap · market cap 15.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,349
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?
Commercial land - Two existing buildings contain six rental units and generate income ahead of future construction.
Where is this commercial land located?
The property is located at 330 Sunset Drive Pompano Beach, FL.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: RM‑45 zoning with plans for a seven‑story, 19‑unit condominium; Alternative concept supports a 38‑unit condominium‑hotel; Two existing buildings with 6 rental units
