Turnkey Side-by-Side
For Sale
Contact for pricing
708-710 NE 23rd Avenue, Pompano Beach, FL 33062
Fully renovated duplex offers two separate 2BR/1BA units with private entrances, fenced yards, and individually metered utilities.
Property Size2,192 SF
Price / SF$453.92
Days on Market172
Property Features for 708-710 NE 23rd Avenue
General Information
Standard status
Active
Size
2,192 SF
Property subtype
Multifamily
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1968
Listing Agency:
Sutter & Nugent LLC
(561) 455-4140
Listed By:
James Lopez · License #3386064
Source:
Crexi
Added: Feb 17
Changed: Jul 10
Last Checked: Aug 7 at 7:55AM
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 Sutter & Nugent LLC
Investment Insights
Based on property information with market context.
This fully renovated duplex is a rare side-by-side configuration featuring two spacious 2-bedroom, 1-bath units. Each unit has been updated top to bottom with modern open kitchens, quartz countertops, stainless steel appliances, tile flooring, and refreshed bathrooms. Both units include private entrances and their own individually fenced backyards with white PVC privacy fencing. Convenience features include full-size in-unit washer and dryer. The property also includes storm protection with a mix of impact windows and shutters, and recent major upgrades such as a new driveway and roof. Each unit is separately metered, supporting independent utility management.
The property is located east of Federal Highway in Pompano Beach, with ample driveway parking. It is positioned minutes from the beach and A1A, as well as Pompano Pier, parks, dining, shopping, and major highways, supporting easy day-to-day access for residents and guests.
For tenants or owner-occupants, the layout provides two complete living spaces with separate entrances and outdoor areas, while also keeping utility billing split by unit. For investors, the turnkey nature of the renovations and the independently metered units can simplify operations for a multi-unit rental strategy. There is no HOA.
The property is located east of Federal Highway in Pompano Beach, with ample driveway parking. It is positioned minutes from the beach and A1A, as well as Pompano Pier, parks, dining, shopping, and major highways, supporting easy day-to-day access for residents and guests.
For tenants or owner-occupants, the layout provides two complete living spaces with separate entrances and outdoor areas, while also keeping utility billing split by unit. For investors, the turnkey nature of the renovations and the independently metered units can simplify operations for a multi-unit rental strategy. There is no HOA.
Key Highlights
- Fully renovated side‑by‑side duplex built in 1968 with two 2BR/1BA units
- Each unit offers 1,000+ SF, private entrance, and a separately fenced backyard
- Updates include modern open kitchens with quartz countertops and stainless steel appliances
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
$36,656
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
3.68%
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%
$733,120
$733.1K
Cap Rate 7%
$523,657
$523.7K
Cap Rate 9%
$407,289
$407.3K
Market Conditions
NOI Build-Up for 2,192 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
$55.2K $25.20/SF
− Vacancy
−$2.9K −$1.31/SF
EGI
$52.4K $23.89/SF
− OpEx
−$15.7K −$7.17/SF
NOI
$36.7K $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%
$733,120
Cap Rate 7%
$523,657
Cap Rate 9%
$407,289
Alternative Uses
Best Use
Multifamily LT 5
$523.7K
$458.2K – $610.9K
NOI $36,656 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$481.0K
$420.9K – $561.2K
NOI $33,672 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$854.9K
$748.0K – $997.4K
NOI $59,842 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,144
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?
Duplex - Fully renovated duplex offers two separate 2BR/1BA units with private entrances, fenced yards, and individually metered utilities.
Where is this duplex located?
The property is located at 708-710 NE 23rd Avenue Pompano Beach, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Fully renovated side‑by‑side duplex built in 1968 with two 2BR/1BA units; Each unit offers 1,000+ SF, private entrance, and a separately fenced backyard; Updates include modern open kitchens with quartz countertops and stainless steel appliances
