Listing Agency: RCG Commercial Realty

Listed By: Alex Rich Show Phone

Source: Moodyscre

Added: Oct 25, 2024 Changed: Aug 8 Last Checked: Apr 11 at 2:38PM

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Investment Insights

Based on property information with market context.

A 25,600 square foot retail property is available for sale in Davie, Florida.

Key Highlights

• 25,600 SF retail property
• Located in Davie, Florida
• Retail property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$285,620

Cap Rate

3.48%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,712,400 $5.7M

Cap Rate 7%

$4,080,286 $4.1M

Cap Rate 9%

$3,173,556 $3.2M

Market Conditions

NOI Build-Up for 25,600 SF

Gross rent

$433.2K $16.92/SF

− Vacancy

−$25.1K −$0.98/SF

EGI

$408.0K $15.94/SF

− OpEx

−$122.4K −$4.78/SF

NOI

$285.6K $11.16/SF

Area

Davie, FL

Vacancy

5.80%

Lease Rate

$16.92 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,712,400

Cap Rate 7%

$4,080,286

Cap Rate 9%

$3,173,556

Alternative Uses

Best Use

Retail

$4.08M

$3.57M – $4.76M (±1% cap)

NOI $285,620 @ 7.0% cap · market cap 3.48%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$4.85M

$4.25M – $5.66M (±1% cap)

NOI $339,754 @ 7.0% cap · market cap 4.14%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Retail properties & Spaces

Suggested Use

Top Pick Parking Lot & Garage Grocery & Convenience Store Electrical Service Hotel & Motel Storage Facility (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,179

Businesses Nearby

285k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Superstores 45% Dining 33% Home Improvements & Furnishings 17% Shops & Services 5%

Target Superstores

127,296 visits/mo 0.4 miles

Chick-fil-A Dining

52,794 visits/mo 0.4 miles

The Home Depot Home Improvements & Furnishings

49,241 visits/mo 0.4 miles

Pollo Tropical Dining

10,079 visits/mo 0.4 miles

Dunkin' Donuts Dining

9,944 visits/mo 0.2 miles

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail properties & spaces located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Retail property - 25,600 SF retail property in Davie, Florida available.

Where is this retail property located?

The property is located at 5360 S University Dr Davie, FL.

What is the asking price?

The asking price for this property is $8,200,000.

What are key features of this property?

This property features: 25,600 SF retail property; Located in Davie, Florida; Retail property