Fully Leased Retail Strip
For Sale
$599,900
2510 NW 19th Street Unit A-D, Fort Lauderdale, FL 33311
Four-unit retail strip center with nine on-site parking spaces and each unit featuring a private bathroom and air conditioning.
Property Size2,323 SF
Price / SF$258.24
Days on Market38
Property Features for 2510 NW 19th Street Unit A-D
General Information
Standard status
Active
Size
2,323 SF
Total Parking Spaces
9
Property subtype
Retail
Occupancy
100%
Financials
Cap Rate
6.25%
Opportunity Zone
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
2002
Tenancy
Multi
Listing Agency:
Florida Capital Realty
(954) 389-3604
Listed By:
Patricio Sly · License #3176578
(954) 389-3604
Source:
Lehmannflorida
Added: Jul 10
Changed: Aug 16
Last Checked: Aug 16 at 6:25AM
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 Florida Capital Realty
Investment Insights
Based on property information with market context.
This fully occupied four-unit multi-tenant retail strip center offers stable rental income and a straightforward tenant setup. The building contains four leased retail units, and each unit includes its own private bathroom and air conditioning system for individual tenant control.
The property is located on busy NW 19th Street with convenient access to I-95, providing visibility and easy accessibility for customers and tenants. Recent exterior improvements include a freshly painted exterior and a newly sealed and striped parking lot.
The site includes nine on-site parking spaces. The current income profile supports an in-place cap rate based on the stated information, with potential for increased NOI through future lease renewals and rental adjustments.
The property is located on busy NW 19th Street with convenient access to I-95, providing visibility and easy accessibility for customers and tenants. Recent exterior improvements include a freshly painted exterior and a newly sealed and striped parking lot.
The site includes nine on-site parking spaces. The current income profile supports an in-place cap rate based on the stated information, with potential for increased NOI through future lease renewals and rental adjustments.
Key Highlights
- 4‑unit multi‑tenant retail strip center built in 2002, totaling 2,323 SF
- Fully occupied with four established tenants and current in‑place NOI of $37,500
- 6.25% current in‑place cap rate; projected pro forma NOI of approximately $56,700
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
$41,380
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
6.90%
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%
$827,600
$827.6K
Cap Rate 7%
$591,143
$591.1K
Cap Rate 9%
$459,778
$459.8K
Market Conditions
NOI Build-Up for 2,323 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
$64.1K $27.60/SF
− Vacancy
−$5.0K −$2.15/SF
EGI
$59.1K $25.45/SF
− OpEx
−$17.7K −$7.63/SF
NOI
$41.4K $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%
$827,600
Cap Rate 7%
$591,143
Cap Rate 9%
$459,778
Alternative Uses
Best Use
Retail
$591.1K
$517.3K – $689.7K
NOI $41,380 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,274 @ 7.0% cap · market cap 18.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
6,240 visits/mo
0.5 miles
Extra Space Storage
Shops & Services
2,221 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?
Strip mall - Four-unit retail strip center with nine on-site parking spaces and each unit featuring a private bathroom and air conditioning.
Where is this strip mall located?
The property is located at 2510 NW 19th Street Unit A-D Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 4‑unit multi‑tenant retail strip center built in 2002, totaling 2,323 SF; Fully occupied with four established tenants and current in‑place NOI of $37,500; 6.25% current in‑place cap rate; projected pro forma NOI of approximately $56,700
