Freestanding Retail
New
For Sale
$1,050,000
1026 NW 9th Ave, Fort Lauderdale, FL 33311
Fully occupied retail property with three operating businesses, on-site parking, and a recently replaced roof.
Property Size2,719 SF
Price / SF$386.17
Days on Market2
Property Features for 1026 NW 9th Ave
General Information
Standard status
Active
Size
2,719 SF
Total Parking Spaces
10
Property subtype
Commercial
Occupancy
100%
Net Operating Income
$73,543
Financials
Cap Rate
7%
Opportunity Zone
Yes
Site & Location
Traffic Count
31,500 vehicles/day
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,565
Building Details
Building Size
2,719 SF
Year Built
1961
Buildings
1
Tenancy
Multi
Listing Agency:
Current Capital Realty
(781) 367-1454
Listed By:
Caio Martin · License #A12015553
(781) 367-1454
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 7:54AM
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 Current Capital Realty
Investment Insights
Based on property information with market context.
This freestanding retail building contains 2,719 square feet and is occupied by three businesses: a nail salon, restaurant, and beauty supply store. The month-to-month lease structure includes annual rent increases, while a new roof and 10 dedicated parking spaces add functional value for continued operations. The property was built in 1961.
Positioned at 1026 NW 9th Ave in Fort Lauderdale’s Progresso Village / South Middle River area, the property fronts a corridor reported to carry approximately 31,500 vehicles per day. Downtown Fort Lauderdale and I-95 are minutes away. The asset is within a designated Opportunity Zone and has a 7.0% going-in cap rate. WalkScore is 63, BikeScore is 58, and TransitScore is 42.
Positioned at 1026 NW 9th Ave in Fort Lauderdale’s Progresso Village / South Middle River area, the property fronts a corridor reported to carry approximately 31,500 vehicles per day. Downtown Fort Lauderdale and I-95 are minutes away. The asset is within a designated Opportunity Zone and has a 7.0% going-in cap rate. WalkScore is 63, BikeScore is 58, and TransitScore is 42.
Key Highlights
- 2,719 SF freestanding retail building
- Three operating tenants: nail salon, restaurant, and beauty supply store
- Month‑to‑month leases with annual rent increases
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
$48,434
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
4.61%
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%
$968,680
$968.7K
Cap Rate 7%
$691,914
$691.9K
Cap Rate 9%
$538,156
$538.2K
Market Conditions
NOI Build-Up for 2,719 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
$75.0K $27.60/SF
− Vacancy
−$5.9K −$2.15/SF
EGI
$69.2K $25.45/SF
− OpEx
−$20.8K −$7.63/SF
NOI
$48.4K $17.81/SF
Area
Fort Lauderdale, FL
Vacancy
7.80%
Lease Rate
$27.60 /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%
$968,680
Cap Rate 7%
$691,914
Cap Rate 9%
$538,156
Alternative Uses
Best Use
Retail
$691.9K
$605.4K – $807.2K
NOI $48,434 @ 7.0% cap · market cap 4.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,902 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
31,500 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,175
Businesses Nearby
216k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 28%
Shops & Services 22%
Groceries 22%
Dining 20%
The Home Depot
Home Improvements & Furnishings
57,435 visits/mo
0.2 miles
Publix
Groceries
46,722 visits/mo
0.4 miles
McDonald's
Dining
31,062 visits/mo
0.4 miles
Cumberland Farms
Shops & Services
16,794 visits/mo
0.4 miles
Courtyard by Marriott Fort Lauderdale Downtown
Hotels & Casinos
10,089 visits/mo
0.5 miles
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
Median Home Value
Market
Vacancy Rate% for Retail in Fort Lauderdale, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Fully occupied retail property with three operating businesses, on-site parking, and a recently replaced roof.
Where is this storefront property located?
The property is located at 1026 NW 9th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 2,719 SF freestanding retail building; Three operating tenants: nail salon, restaurant, and beauty supply store; Month‑to‑month leases with annual rent increases
