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    2494 5Th St Pompano Beach, FL 33069
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    Property profile & analytics

    2494 5Th St, Pompano Beach, FL 33069

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    • Small apartment buildings
    Off-Market
    Property ID
    US18-2467518
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 2494 5Th St

    Year built
    1975
    Property type
    Small apartment buildings

    Description

    This attractive three-unit apartment building in Pompano Beach, Florida presents a compelling investment opportunity. Located at 2494 NW 5th St, 33069, this single-story, 1975-built triplex offers immediate income potential. The property boasts recently updated key systems, including a new roof, new air conditioning units, and new electrical panels, minimizing immediate capital expenditure needs. This significantly reduces the risk associated with typical multifamily investments. The property's clean core is ready for cosmetic renovations to further enhance rental income and property value. The convenient lockbox access allows for easy showings, facilitating a swift transaction. Each of the three units provides a comfortable living space, contributing to a strong rental income stream. The property's location in Broward County offers easy access to local amenities and transportation networks. This turnkey investment is ideal for both seasoned and first-time multifamily investors seeking a profitable venture in a desirable South Florida market. A vacant lot adjacent to the property is also available for purchase, presenting an additional development opportunity (see MLS#A11674903 for details). This package deal offers significant potential for long-term growth and return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pompano Beach
    County
    Broward
    State
    Florida
    Longitude
    -80.1565785
    Latitude
    26.2359639

    Comparable in this City

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      1,850 SF

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      Turnkey, income-generating fourplex with modern updates and low maintenance.
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    • New
      $420,000
      988 SF

      Pompano Beach Income-Producing Duplex

      Income-producing duplex in thriving Pompano Beach with redevelopment potential.
      2261 NW 2Nd St, Pompano Beach, FL 33069
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      Corner Retail or Multifamily Site

      High-visibility corner lot suitable for retail or multifamily development.
      2050 Hammondville Rd, Pompano Beach, FL 33069
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    • Contact for pricing
      Pending

      Cozy Condo in Central Location

      One-bedroom condo with garden views, ideal for investors.
      2304 S Cypress Bend Dr, Pompano Beach, FL 33069
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    Similar Nearby for Sale

    • Contact for pricing
      1,850 SF

      Renovated Pompano Beach Fourplex

      Turnkey, income-generating fourplex with modern updates and low maintenance.
      220 NW 27Th Ave, Pompano Beach, FL 33069
      View Details
    • New
      $420,000
      988 SF

      Pompano Beach Income-Producing Duplex

      Income-producing duplex in thriving Pompano Beach with redevelopment potential.
      2261 NW 2Nd St, Pompano Beach, FL 33069
      View Details
    • Contact for pricing

      Corner Retail or Multifamily Site

      High-visibility corner lot suitable for retail or multifamily development.
      2050 Hammondville Rd, Pompano Beach, FL 33069
      View Details
    • Contact for pricing
      Pending

      Cozy Condo in Central Location

      One-bedroom condo with garden views, ideal for investors.
      2304 S Cypress Bend Dr, Pompano Beach, FL 33069
      View Details

    Similar Nearby for Lease

    • $38 SF/Yr
      623 SF

      Blount Road Industrial Space

      623 sq ft Office/Warehouse, I-1 Zoning
      1771 Blount Rd, Pompano Beach, FL 33069
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    • Contact for pricing
      24,450 SF

      Pompano Business Center Warehouse Space

      Institutionally owned business park with various size suites available for rent.
      2004-2044 NW 25Th Ave, Pompano Beach, FL 33069
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    • Contact for pricing
      9,600 SF

      Pompano Beach Warehouse Space Available

      Warehouse space for lease in a master-planned business park.
      1571 West Copans Rd, Pompano Beach, FL 33069
      View Details
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    Pompano Beach, FL 33069
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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