Former Retail and Office
For Sale
Contact for pricing
16 South Federal Highway, Dania Beach, FL 33004
Street retail and office with ample parking, offered as a two-parcel assemblage with flexible City Center District zoning.
Property Size8,600 SF
Price / SF$406.98
Days on Market63
Property Features for 16 South Federal Highway
General Information
Standard status
Active
Size
8,600 SF
Property subtype
Retail, Office, Land
Zoning
City Center (CC)
Additional Details
Traffic Count
75,552 vehicles/day
Building Details
Year Built
1950
Stories
1
Units
3
Listing Agency:
SVN Commercial Partners
(561) 725-0725
Listed By:
Patrick Horrocks · License #SL3626483
Source:
Crexi
Added: Jun 17
Changed: Aug 14
Last Checked: Aug 18 at 5:52PM
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 SVN Commercial Partners
Investment Insights
Based on property information with market context.
The property is a two-parcel contiguous assemblage that includes 8,600 square feet of street retail and office space, offered as the former Rexall Drugs site. The offering includes ample on-site parking. The property’s long operating history as a local drugstore is reflected in its established presence along a major commercial corridor.
Located along South Federal Highway in Dania Beach, the site benefits from prominent exposure to both residents and visitors traveling through the area. The property is described as lying within the City’s Community Redevelopment Agency (CRA) district, and it is zoned City Center District (CC). The CC zoning permits a mix of retail, office, residential, and hospitality uses, supported by favorable density and height allowances intended to encourage urban mixed-use infill development.
This site can suit buyers or operators seeking a mixed-use-capable redevelopment platform with existing street-facing retail and office space and on-site parking. With CRA designation and the City Center District framework supporting multiple use categories, the property provides flexibility for adaptive reuse or redevelopment planning, subject to applicable approvals.
Located along South Federal Highway in Dania Beach, the site benefits from prominent exposure to both residents and visitors traveling through the area. The property is described as lying within the City’s Community Redevelopment Agency (CRA) district, and it is zoned City Center District (CC). The CC zoning permits a mix of retail, office, residential, and hospitality uses, supported by favorable density and height allowances intended to encourage urban mixed-use infill development.
This site can suit buyers or operators seeking a mixed-use-capable redevelopment platform with existing street-facing retail and office space and on-site parking. With CRA designation and the City Center District framework supporting multiple use categories, the property provides flexibility for adaptive reuse or redevelopment planning, subject to applicable approvals.
Key Highlights
- 8,600 SF street retail and office along South Federal Highway (US‑1) in Dania Beach
- Two‑parcel contiguous assemblage with ample on‑site parking
- Former Rexall Drugs location with operating history dating to 1956
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
$227,943
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
6.51%
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%
$4,558,860
$4.6M
Cap Rate 7%
$3,256,329
$3.3M
Cap Rate 9%
$2,532,700
$2.5M
Market Conditions
NOI Build-Up for 8,600 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
$392.2K $45.60/SF
− Vacancy
−$88.2K −$10.26/SF
EGI
$303.9K $35.34/SF
− OpEx
−$76.0K −$8.84/SF
NOI
$227.9K $26.51/SF
Area
Broward County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
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%
$4,558,860
Cap Rate 7%
$3,256,329
Cap Rate 9%
$2,532,700
Alternative Uses
Best Use
Office B
$3.26M
$2.85M – $3.80M
NOI $227,943 @ 7.0% cap · market cap 6.51%
Second Best
Retail
$2.08M
$1.82M – $2.42M
NOI $145,419 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$4.36M
$3.82M – $5.09M
NOI $305,420 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
75,552 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,761
Businesses Nearby
Explore this area
Business Placement
Demographics for 33004, FL
16,162
Population
9,427
Households
1.7
Avg Household Size
45
Median Age
34%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
2,377
Density / Sq Mi
$50,783
Median Household Income
$41,540
Median Earnings
$1,616
Median Rent
$336,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Street retail and office with ample parking, offered as a two-parcel assemblage with flexible City Center District zoning.
Where is this retail space located?
The property is located at 16 South Federal Highway Dania Beach, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 8,600 SF street retail and office along South Federal Highway (US‑1) in Dania Beach; Two‑parcel contiguous assemblage with ample on‑site parking; Former Rexall Drugs location with operating history dating to 1956
