3215 7th St, Pompano Beach, FL 33062-4508
- Motels
- 8,831 SF
- 0.34 lot acres
Current Use by Public Records
- Stay So Flo || Waves / Vacation Rental / Real Estate Agency
- Wave Beach Vacation Rentals / Hotel & Motel
- Dolphin Motel / Hotel & Motel
Property Details for 3215 7th St
- Year built
- 1967
- Construction
- CONCRETE
- Lot size
- 0.34 lot acres
- Zone code
- RM-20
- Property type
- Motels
- APN
- 48-43-31-09-0190
- APU
- 484331090190
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 17, 2026 | $4,120,000 | Ob Ocean LLC | Ter 3215 Ne 7th Street LLC | Warranty Deed | $2.4M · Brightstar Cu |
| Aug 4, 2022 | — | Ter 3215 Ne 7th Street LLC | — | Deed · related | $2.4M · Banesco USA |
| Nov 12, 2021 | $2,775,000 | Ter 3215 Ne 7th Street LLC | Les Appartements Dolphin INC | Warranty Deed | — |
Description
Prime investment opportunity: Waves Beach Vacation Rentals, a two-story, 22-key hotel in Pompano Beach, Florida, is available for sale/leaseback. This property boasts a strong 95% occupancy rate (as of June 26, 2024) and a compelling 8.63% cap rate, generating a net operating income (NOI) of $492,727. The asking price is $5,710,000, or $259,545 per key. The hotel features a mix of 14 studio units (11 with full kitchens, 3 with kitchenettes) and 4 two-bedroom units (all with full kitchens, 3 with in-suite laundry). Recent renovations include modern interiors and upgraded amenities in all 23 units (22 units + 1 spacious 900 sq ft two-bedroom suite), minimizing maintenance needs and maximizing rental appeal. The property also includes a renovated outdoor pool area and ample surface parking (19 spaces) on a 17,000 sq ft lot. Located at 3215 NE 7th St, Pompano Beach, FL 33062, this hotel benefits from its proximity to public transportation, parks, gyms, and other recreational facilities. The property is zoned RM-20 - MULTIPLE-FAMILY RESIDENCE.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,350,000
- ML approach
- $2,995,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,673,000
Market price range: $346k - $3.64M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Pompano Beach
- County
- Broward
- State
- Florida
- Longitude
- -80.0892
- Latitude
- 26.243
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
