Flex Retail/Warehouse
For Sale
Under Contract
$2,975,000
2050 N University Drive, Sunrise, FL
SINGLE_FAMILY - Sunrise, FL
Property Size7,981 SF
Lot Size0.49 Acres
Price / SF$372.76
Days on Market150
Property Features for 2050 N University Drive
General Information
Property type
Residential
Property subtype
Retail
Zoning
B-3
Parking
24
Subdivision
3750
Standard status
Active Under Contract
APN
494128041180
Size
7,981 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SUNRISE GOLF VILLAGE SEC 19 PART ONE 72-12 B TR C LESS THE N 839.88
Tax Annual Amount
31960
Legal Description
SUNRISE GOLF VILLAGE SEC 19 PART ONE 72-12 B TR C LESS THE N 839.88
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1976
Floors in Building
1
Number of units
1
Building materials
CBS
Roof type
Flat
Listing Agency:
Box Real Estate LLC
(954) 526-3900
Listed By:
Jason Chamely · License #3180591
(954) 857-1884
Added: Mar 23
Changed: Jul 10
Last Checked: Aug 19 at 9:06AM
MLS# B26005943
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
First time to market in 50+ years, this flex retail/warehouse building offers an open showroom layout with four bathrooms. The space includes upgraded 3-phase electric service and one overhead rolling door.
The property has approximately 116 feet of frontage on University Drive. A 120-foot wall on the south side provides an unobstructed view toward northbound traffic, offering visibility for signage and branding.
Zoned B-3 with many allowed uses, the building sits on approximately 0.488 acres. Roof replacement was completed in 2020, and the parking lot was sealed and striped in 2026.
The property has approximately 116 feet of frontage on University Drive. A 120-foot wall on the south side provides an unobstructed view toward northbound traffic, offering visibility for signage and branding.
Zoned B-3 with many allowed uses, the building sits on approximately 0.488 acres. Roof replacement was completed in 2020, and the parking lot was sealed and striped in 2026.
Key Highlights
- 8,000 sqft of flex retail/warehouse space with 116' frontage on University Drive.
- High‑visibility location: First building entering Sunrise with unobstructed view for Northbound traffic, ideal for signage and branding.
- Liberal B‑3 zoning allows for many uses.
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
$175,550
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
5.90%
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%
$3,511,000
$3.5M
Cap Rate 7%
$2,507,857
$2.5M
Cap Rate 9%
$1,950,556
$2.0M
Market Conditions
NOI Build-Up for 7,981 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
$287.3K $36.00/SF
− Vacancy
−$17.2K −$2.16/SF
EGI
$270.1K $33.84/SF
− OpEx
−$94.5K −$11.84/SF
NOI
$175.6K $22.00/SF
Area
Broward County, FL
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
35.00%
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%
$3,511,000
Cap Rate 7%
$2,507,857
Cap Rate 9%
$1,950,556
Alternative Uses
Best Use
Flex RnD
$2.51M
$2.19M – $2.93M
NOI $175,550 @ 7.0% cap · market cap 5.90%
Second Best
Warehouse
$1.49M
$1.31M – $1.74M
NOI $104,623 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$4.05M
$3.54M – $4.72M
NOI $283,437 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
1,678
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Flex retail and warehouse building with showroom, four bathrooms, and one overhead rolling door.
Where is this flex space located?
The property is located at 2050 N University Drive Sunrise, FL.
What is the asking price?
The asking price for this property is $2,975,000.
What are key features of this property?
This property features: 8,000 sqft of flex retail/warehouse space with 116' frontage on University Drive.; High‑visibility location: First building entering Sunrise with unobstructed view for Northbound traffic, ideal for signage and branding.; Liberal B‑3 zoning allows for many uses.
