Renovated Side-by-Side
For Sale
$995,000
708-710 NE 23rd Avenue, Pompano Beach, FL 33062
Residential Income, Pompano Beach, FL
Property Size2,192 SF
Lot Size0.14 Acres
Price / SF$453.92
Days on Market224
Property Features for 708-710 NE 23rd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RD-1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 1
Patio and Porch features
Porch, Patio
Fencing
Fenced
Subdivision
FAIR WAY PARK
Elementary school
Pompano Beach
Middle school
Pompano Beach
High school
Blanche Ely
Directions
From US-1 S. Turn left onto NE 6th St. Turn left onto NE 23rd Ave. Destination will be on the right.
Standard status
Active
APN
484331270020
Size
2,192 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FAIR WAY PARK 37-31 B LOT 2 BLK A
Tax Annual Amount
11177
Legal Description
FAIR WAY PARK 37-31 B LOT 2 BLK A
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric, Ceiling Fan(s)
Water source
Public
Amenities
private entrances
individually fenced backyards
full-size washer and dryer
separately metered
impact windows and shutters
Building Details
Year built
1968
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
CBS, Stucco
Roof type
Composition
Listing Agency:
Compass Florida LLC
(561) 285-4283
Listed By:
James Lopez · License #3386064
(561) 558-5778
Added: Feb 10
Changed: Sep 17
Last Checked: Sep 22 at 11:06PM
MLS# R11162600
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,192-square-foot duplex contains two side-by-side residences, each configured with 2 bedrooms and 1 bathroom across more than 1,000 square feet. Both units have private entrances, individually fenced backyards, open kitchens with quartz countertops, stainless steel appliances, tile flooring, and refreshed bathrooms. Full-size washers and dryers are included in each unit, and separate electric metering supports independent utility management.
The property sits east of Federal Highway in Pompano Beach, with driveway parking, a new driveway, a recent roof, and storm protection through impact windows and shutters. The 0.14-acre site also includes fresh landscaping, white PVC fencing, public water, and public sewer. Beach access, A1A, Pompano Pier, parks, dining, shopping, and major highways are described as minutes away. There is no HOA, and the property is zoned RD-1.
The property sits east of Federal Highway in Pompano Beach, with driveway parking, a new driveway, a recent roof, and storm protection through impact windows and shutters. The 0.14-acre site also includes fresh landscaping, white PVC fencing, public water, and public sewer. Beach access, A1A, Pompano Pier, parks, dining, shopping, and major highways are described as minutes away. There is no HOA, and the property is zoned RD-1.
Key Highlights
- Two side‑by‑side 2BR/1BA units with more than 1,000 SF each
- 2,192 SF duplex on a 0.14‑acre lot
- Separate electric meters and full‑size washer/dryer in each residence
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
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,363
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Two separately metered residences offer private entries, fenced yards, and in-unit laundry.
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: Two side‑by‑side 2BR/1BA units with more than 1,000 SF each; 2,192 SF duplex on a 0.14‑acre lot; Separate electric meters and full‑size washer/dryer in each residence
