216 18Th Ave Pompano Beach, FL 33060
- Commercial real estate
- 1,816 SF
Current Use by Public Records
- Commercial real estate
Property Details for 216 18Th Ave
- Year built
- 1956
- Property size
- 1,816 SF
- Property type
- Commercial real estate
- APN
- 4842-36-01-1210
Description
This Pompano Beach triplex, located at 216 NE 18th Ave, presents a compelling value-add investment opportunity. The property, built in 1956, sits on a 6,800 square foot lot and comprises 1,816 square feet of building space and 1,916 square feet of net rentable area. The property features three units: a three-bedroom, one-bathroom; a one-bedroom, one-bathroom; and a studio. Four parking spaces are available. Currently operating as short-term rentals, the property generates a current NOI of $36,715, with a current cap rate of 3.89%. However, a pro-forma NOI of $54,280 and a pro-forma cap rate of 5.74% indicate significant upside potential through rent increases. The asking price is $945,000, or $315,000 per unit. The property is fully furnished and includes on-site laundry. Current rents, which include utilities and streaming services, total $5,590 per month. The property is conveniently located just 1.2 miles from the beach. All information is approximate; buyers should verify details independently. The property is tenant-occupied; drive-by viewing only. This is a fee simple ownership. The APN is 4842-36-01-1210.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pompano Beach
- County
- Broward
- State
- Florida
- Longitude
- -80.105962147243
- Latitude
- 26.234464591041
