How do I schedule a tour of 1241 W River Drive 116, Margate, FL 33063?

Use the Tour button on this listing to request a showing of 1241 W River Drive 116, Margate, FL 33063. Pick a day and time and choose an in-person or video-chat tour, and a Pure Equity Realty agent will confirm your visit, often the same day.

Is 1241 W River Drive 116, Margate, FL 33063 still available?

1241 W River Drive 116, Margate, FL 33063 is currently listed as Sold, and has been on the market 43 days. Status updates directly from the MLS as homes go under contract, so ask us to confirm availability before you plan a visit.

How much is the monthly payment for 1241 W River Drive 116, Margate, FL 33063?

With 20% down ($560,000) on the $2,800,000 list price and a 30-year fixed loan at an illustrative 6.875% rate, the estimated principal & interest for 1241 W River Drive 116, Margate, FL 33063 is about $14,715/mo, before property taxes, insurance. Use the payment estimate on this page to adjust the down payment and rate.

How do I get pre-approved to buy 1241 W River Drive 116, Margate, FL 33063?

Getting pre-approved shows sellers you're a serious buyer and clarifies your true budget before you offer on 1241 W River Drive 116, Margate, FL 33063. Contact Pure Equity Realty and we'll connect you with a trusted local lender to review your financing options, no obligation.

Can I negotiate the price of 1241 W River Drive 116, Margate, FL 33063?

Often, yes. The right offer on 1241 W River Drive 116, Margate, FL 33063 depends on how it's priced against comparable commercial sales in Margate, how long it's been listed, and how motivated the seller is. Pure Equity Realty will run the comps and help you craft a competitive, well-supported offer.

Sold

43 Days on Market

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$2,800,000

1241 W River Drive 116

Margate, FL 33063

Explore the area: Margate homes for sale · Broward County real estate

Bedrooms

Bathrooms

Living Sq Ft

1958

Year Built

Estimated monthly payment

$14,715 /mo

Principal and interest only, based on $560,000 down (20%), a 6.875% 30-year fixed rate. Property taxes, homeowners insurance are not included.

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Listing Snapshot

Price: $2,800,000
Days on Site: 43 Days
Bedrooms: 0
Total Baths: 0
Total Sq Ft: 11,671 sqft
Lot Size: 0.71 Acres
Year Built: 1958
Property Type: Commercial
MLS #: A12001683
Property Tax: $46,709 (2025)
County: Broward
Status: Sold

About This Property

Tropical View Apartments is a beautiful 16-unit multifamily asset located in Margate at 1241–1251 W River Dr, set on a generous 0.71-acre lakefront parcel. The property is comprised of two two-story buildings constructed of concrete block with a stucco finish, featuring four oversized 2-bedroom/1-bath units averaging approximately 1,118 SF and twelve 1-bedroom/1-bath units averaging approximately 600 SF. Originally built in 1958, the asset has been well maintained and includes a newer 2022 concrete roof, with a portion of the units renovated with wood kitchen cabinetry, granite countertops, and ceramic tile flooring, offering a mix of classic structure and updated interiors. The property is 100% occupied and provides a strong 7.19% going-in cap rate, generating immediate and stable cash flow. Conveniently located just west of State Road 7, tenants benefit from quick access to nearby retail and dining such as Coral Square Mall, along with connectivity to the Florida Turnpike and major employment corridors. The combination of full occupancy, recent capital improvements, and a large waterfront lot positions the property well for continued performance with the ability to further enhance returns over time.

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General Features

Property Type: Commercial
Status: Sold
Year Built: 1958
Parking: Common
Lot Size (Acres): 0.71
Total Sq Ft: 11,671
Sewer: Public Sewer
Water Source: Public
Zoning: R-3

Interior Features

Flooring: Other / Tile / Vinyl

Exterior Features

Construction: Block
Roof: Built Up
Lot Features: Residential Lot

Community & HOA

Financing Terms: Cash / Conventional / Other
MLS Area: 3632

About the Area

Margate

View Margate Real Estate →

Browse Margate homes for sale across every neighborhood and price point in Broward. Available homes span single-family, townhome, and condo segments throughout the city. Margate includes gated golf communities, 55+ active adult neighborhoods, waterfront estates, and newer master-planned subdivisions. HOA fees vary by community type, from modest maintenance fees in non-gated subdivisions to higher dues in full-amenity country clubs. The city sits within Broward, offering access to South Florida beaches, major employment centers, and healthcare hubs. For current Broward market data, see Florida Realtors' monthly statistics. Browse the latest Margate listings below. Then connect with a Pure Equity Realty agent to schedule a private showing.

Homes for Sale: 554
Under Contract: 100
Median List Price: $160,500
Median Sale Price (August): $330,000
Median $/Sq Ft: $174
Avg Days on Market: 127

View all 554 homes for sale in Margate →

Frequently Asked Questions

How do I schedule a tour of 1241 W River Drive 116, Margate, FL 33063?: Use the Tour button on this listing to request a showing of 1241 W River Drive 116, Margate, FL 33063. Pick a day and time and choose an in-person or video-chat tour, and a Pure Equity Realty agent will confirm your visit, often the same day.
Is 1241 W River Drive 116, Margate, FL 33063 still available?: 1241 W River Drive 116, Margate, FL 33063 is currently listed as Sold, and has been on the market 43 days. Status updates directly from the MLS as homes go under contract, so ask us to confirm availability before you plan a visit.
How much is the monthly payment for 1241 W River Drive 116, Margate, FL 33063?: With 20% down ($560,000) on the $2,800,000 list price and a 30-year fixed loan at an illustrative 6.875% rate, the estimated principal & interest for 1241 W River Drive 116, Margate, FL 33063 is about $14,715/mo, before property taxes, insurance. Use the payment estimate on this page to adjust the down payment and rate.
How do I get pre-approved to buy 1241 W River Drive 116, Margate, FL 33063?: Getting pre-approved shows sellers you're a serious buyer and clarifies your true budget before you offer on 1241 W River Drive 116, Margate, FL 33063. Contact Pure Equity Realty and we'll connect you with a trusted local lender to review your financing options, no obligation.
Can I negotiate the price of 1241 W River Drive 116, Margate, FL 33063?: Often, yes. The right offer on 1241 W River Drive 116, Margate, FL 33063 depends on how it's priced against comparable commercial sales in Margate, how long it's been listed, and how motivated the seller is. Pure Equity Realty will run the comps and help you craft a competitive, well-supported offer.

Listing courtesy of Fausto Commercial Realty Consultants Inc

Listing information is provided by BeachesMLS, Inc.and is deemed reliable but not guaranteed accurate by the MLS or Pure Equity Realty. Information is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties. © 2026 BeachesMLS, Inc. Last updated July 1, 2026.

$2,800,000