Updated Quadplex With Renovated
For Sale
$1,500,000
7701 Nw 56th Ave, Pompano Beach, FL 33073
Four-unit residential income property with substantial building improvements and updated interiors across all units.
Property Size3,220 SF
Price / SF$465.84
Days on Market12
Property Features for 7701 Nw 56th Ave
General Information
Standard status
Active
Size
3,220 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,296
Building Details
Buildings
1
Listing Agency:
The Keyes Company
(954) 467-0105
Listed By:
Charles Leslie Waites · License #3087729
(954) 687-5160
Source:
Exprealty
Added: Aug 26
Changed: Sep 6
Last Checked: Sep 6 at 2:22PM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This four-unit residential property contains 3,220 square feet and has received improvements at both the unit and building levels. Interior work includes renovated kitchens, selected baths, updated paint and millwork, ceramic or waterproof luxury vinyl flooring, 2020 A/C systems in Units 1 and 3, and newer water heaters in Units 2, 3, and 4. Building-wide improvements include a new roof, impact windows and doors, updated electrical panels, PVC piping, fencing, pavers, and landscaping.
The property is in Hillsboro Pines within unincorporated Broward County, with access to shopping, dining, Florida Turnpike, and Sawgrass Expressway. The landlord currently pays water and electricity for Units 2 and 4, while electric submetering is used to bill tenants for usage. The building is tenant occupied, and showings require 24–48 hours’ notice through the listing agent.
The property is in Hillsboro Pines within unincorporated Broward County, with access to shopping, dining, Florida Turnpike, and Sawgrass Expressway. The landlord currently pays water and electricity for Units 2 and 4, while electric submetering is used to bill tenants for usage. The building is tenant occupied, and showings require 24–48 hours’ notice through the listing agent.
Key Highlights
- Four‑unit property with 3,220 square feet
- New roof, impact windows and doors, updated electrical panels, and PVC piping
- Unit 1 includes a 2020 A/C, updated kitchen and bath, and waterproof luxury vinyl flooring
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
$53,847
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
3.59%
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%
$1,076,940
$1.1M
Cap Rate 7%
$769,243
$769.2K
Cap Rate 9%
$598,300
$598.3K
Market Conditions
NOI Build-Up for 3,220 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
$81.1K $25.20/SF
− Vacancy
−$4.2K −$1.31/SF
EGI
$76.9K $23.89/SF
− OpEx
−$23.1K −$7.17/SF
NOI
$53.8K $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%
$1,076,940
Cap Rate 7%
$769,243
Cap Rate 9%
$598,300
Alternative Uses
Best Use
Multifamily LT 5
$769.2K
$673.1K – $897.5K
NOI $53,847 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$706.6K
$618.3K – $824.4K
NOI $49,464 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $87,906 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,115
Businesses Nearby
Explore this area
Business Placement
Demographics for 33073, FL
32,853
Population
12,708
Households
2.6
Avg Household Size
38
Median Age
38%
College-Educated
93%
High-School Grad
8.1 sq mi
ZIP Area
4,056
Density / Sq Mi
$99,269
Median Household Income
$50,754
Median Earnings
$2,193
Median Rent
$453,700
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?
Quadplex - Four-unit residential income property with substantial building improvements and updated interiors across all units.
Where is this quadplex located?
The property is located at 7701 Nw 56th Ave Pompano Beach, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Four‑unit property with 3,220 square feet; New roof, impact windows and doors, updated electrical panels, and PVC piping; Unit 1 includes a 2020 A/C, updated kitchen and bath, and waterproof luxury vinyl flooring
