Duplex with Shared
New
For Sale
$749,000
617 NW 15th Avenue, Pompano Beach, FL 33069
Two 3-bedroom, 2-bathroom units include central air, fenced yard access, and eight parking spaces.
Property Size2,412 SF
Price / SF$310.53
Days on Market4
Property Features for 617 NW 15th Avenue
General Information
Standard status
Active
Size
2,412 SF
Total Parking Spaces
8
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,734
Amenities
shared coin operated laundry room
fenced yard
Building Details
Building Size
2,412 SF
Year Built
1996
Listing Agency:
LoKation
Listed By:
Jino Kuriakose · License #3285990
(954) 937-5651
Source:
Pamandtoni
Added: Sep 23
Changed: Sep 24
Last Checked: Sep 24 at 3:12PM
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 LoKation
Investment Insights
Based on property information with market context.
This duplex contains two 3-bedroom, 2-bathroom units, with a total building area of 2,412 square feet. Each unit has central air, tiled floors, carpet in the primary bedroom, closet storage, and an open white kitchen with a side entrance. The property was built in 1996 and has PVC sewer pipes.
Residents share a coin-operated laundry room and have access to a large fenced yard. Eight parking spaces serve the property.
Residents share a coin-operated laundry room and have access to a large fenced yard. Eight parking spaces serve the property.
Key Highlights
- Two units, each with 3 bedrooms and 2 bathrooms
- 2,412 square feet; built in 1996
- Eight parking spaces
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
$40,335
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
5.39%
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%
$806,700
$806.7K
Cap Rate 7%
$576,214
$576.2K
Cap Rate 9%
$448,167
$448.2K
Market Conditions
NOI Build-Up for 2,412 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
$60.8K $25.20/SF
− Vacancy
−$3.2K −$1.31/SF
EGI
$57.6K $23.89/SF
− OpEx
−$17.3K −$7.17/SF
NOI
$40.3K $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%
$806,700
Cap Rate 7%
$576,214
Cap Rate 9%
$448,167
Alternative Uses
Best Use
Multifamily LT 5
$576.2K
$504.2K – $672.3K
NOI $40,335 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$529.3K
$463.2K – $617.5K
NOI $37,052 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$940.7K
$823.1K – $1.10M
NOI $65,848 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
828
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two 3-bedroom, 2-bathroom units include central air, fenced yard access, and eight parking spaces.
Where is this duplex located?
The property is located at 617 NW 15th Avenue Pompano Beach, FL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 bathrooms; 2,412 square feet; built in 1996; Eight parking spaces
