Retail Strip Center Near
For Sale
$750,000
1518-1522 NE 4th Avenue, Fort Lauderdale, FL 33304
Three-unit retail strip center near Wilton Manors for sale.
Property Size1,850 SF
Price / SF$405.41
Days on Market150
Property Features for 1518-1522 NE 4th Avenue
General Information
Standard status
Active
Size
1,850 SF
Zoning
CB
Taxes and HOA fees
Annual Taxes
$8,455
Building Details
Building Size
1,850 SF
Year Built
1976
Buildings
1
Stories
1
Listing Agency:
Triumphant Commercial Group LL
(954) 661-4170
Listed By:
Cleveland Sainpreux
(954) 661-4170
Source:
Laerrealty
Added: Apr 1
Changed: Aug 23
Last Checked: Aug 26 at 5:50AM
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 Triumphant Commercial Group LL
Investment Insights
Based on property information with market context.
Wilton Drive Plaza is a \u00b11,850 SF three-unit retail strip center located at 1518–1522 NE 4th Avenue, Fort Lauderdale, FL. Situated one block south of Wilton Manors, in Broward County's Arts & Entertainment District, the property is positioned amidst significant developments, with over $200 million in mixed-use projects approved, under construction, or in planning within a one-mile radius. This property is suited for an owner-user, such as an entrepreneur, medical or professional office operator, boutique retailer, or restaurant concept, seeking to manage occupancy costs, eliminate long-term lease exposure, gain supplemental rental income, and build equity in a supply-constrained urban corridor. The property currently operates with three month-to-month tenants, providing flexibility for a new owner to occupy one, two, or all three units while maintaining cash flow. This is an opportunity to transition from tenant to owner in a high-demand market.
Key Highlights
- Located in a high‑demand urban corridor near Wilton Manors and Broward County's Arts & Entertainment District.
- Significant development activity in the area, with over $200 million in mixed‑use projects approved, under construction, or in planning within a one‑mile radius.
- Ideal for an owner‑user looking to control occupancy costs, eliminate lease exposure, and build equity.
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
$32,954
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
4.39%
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%
$659,080
$659.1K
Cap Rate 7%
$470,771
$470.8K
Cap Rate 9%
$366,156
$366.2K
Market Conditions
NOI Build-Up for 1,850 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
$51.1K $27.60/SF
− Vacancy
−$4.0K −$2.15/SF
EGI
$47.1K $25.45/SF
− OpEx
−$14.1K −$7.63/SF
NOI
$33.0K $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%
$659,080
Cap Rate 7%
$470,771
Cap Rate 9%
$366,156
Alternative Uses
Best Use
Retail
$470.8K
$411.9K – $549.2K
NOI $32,954 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,024 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,534
Businesses Nearby
30k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Dining 18%
7-Eleven
Shops & Services
12,635 visits/mo
0.1 miles
Sunoco
Shops & Services
7,658 visits/mo
0.2 miles
Dairy Queen
Dining
5,611 visits/mo
0.5 miles
Exxon
Shops & Services
4,540 visits/mo
0.3 miles
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
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?
Strip mall - Three-unit retail strip center near Wilton Manors for sale.
Where is this strip mall located?
The property is located at 1518-1522 NE 4th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Located in a **high‑demand urban corridor** near Wilton Manors and Broward County's Arts & Entertainment District.; Significant development activity in the area, with over $200 million in mixed‑use projects approved, under construction, or in planning within a one‑mile radius.; Ideal for an owner‑user looking to control occupancy costs, eliminate lease exposure, and build equity.
