Renovated Multi-Tenant Retail
For Sale
Contact for pricing
2633 E Commercial Blvd, Fort Lauderdale, FL 33308
Renovated retail property with five suites, medical-office configuration, and direct exposure along a major east-west commercial corridor.
Property Size6,591 SF
Price / SF$409.65
Days on Market177
Property Features for 2633 E Commercial Blvd
General Information
Standard status
Active
Size
6,591 SF
Total Parking Spaces
20
Property subtype
Retail, Office
Zoning
CB - Community Business
Occupancy
100%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$179,315
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
5
Building Details
Year Built
1972
Year Renovated
2025
Buildings
1
Stories
1
Units
4
Tenancy
Multi
Building Size
6,591 SF
Listing Agency:
Franklin Street
(954) 487-1097
Listed By:
Dylan Morse · License #SL3500133
Source:
Crexi
Added: Mar 9
Changed: Aug 30
Last Checked: Jul 18 at 1:13AM
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 Franklin Street
Investment Insights
Based on property information with market context.
This 6,591-square-foot retail building was constructed in 1972 and has undergone a full renovation, including updated interior and exterior elements. The multi-tenant layout contains five suites and supports retail and medical-office use. One vacant suite provides 2,000 square feet, while three additional tenants occupy the property under short-term leases.
The building fronts E Commercial Boulevard and connects conveniently with US-1, I-95, and Dixie Highway. It is situated near Lauderdale-by-the-Sea and established coastal residential areas, within a corridor that includes retail, medical, and service businesses. The property combines existing tenancy with an available suite and a flexible multi-suite configuration.
The building fronts E Commercial Boulevard and connects conveniently with US-1, I-95, and Dixie Highway. It is situated near Lauderdale-by-the-Sea and established coastal residential areas, within a corridor that includes retail, medical, and service businesses. The property combines existing tenancy with an available suite and a flexible multi-suite configuration.
Key Highlights
- 6,591 SF renovated multi‑tenant retail building
- Five‑suite configuration supporting retail and medical‑office use
- 2,000 SF vacant unit available within the building
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
$189,346
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
7.01%
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%
$3,786,920
$3.8M
Cap Rate 7%
$2,704,943
$2.7M
Cap Rate 9%
$2,103,844
$2.1M
Market Conditions
NOI Build-Up for 6,591 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
$300.5K $45.60/SF
− Vacancy
−$48.1K −$7.30/SF
EGI
$252.5K $38.30/SF
− OpEx
−$63.1K −$9.58/SF
NOI
$189.3K $28.73/SF
Area
Fort Lauderdale, FL
Vacancy
16.00%
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%
$3,786,920
Cap Rate 7%
$2,704,943
Cap Rate 9%
$2,103,844
Alternative Uses
Best Use
Office B
$2.70M
$2.37M – $3.16M
NOI $189,346 @ 7.0% cap · market cap 7.01%
Second Best
Retail
$1.68M
$1.47M – $1.96M
NOI $117,406 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$4.43M
$3.88M – $5.17M
NOI $310,041 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,417
Businesses Nearby
Explore this area
Business Placement
Demographics for 33308, FL
29,519
Population
23,230
Households
1.3
Avg Household Size
57
Median Age
56%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
6,417
Density / Sq Mi
$83,413
Median Household Income
$58,600
Median Earnings
$1,850
Median Rent
$536,900
Median Home Value
Market
Vacancy Rate% for Office in Fort Lauderdale, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Renovated retail property with five suites, medical-office configuration, and direct exposure along a major east-west commercial corridor.
Where is this retail space located?
The property is located at 2633 E Commercial Blvd Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 6,591 SF renovated multi‑tenant retail building; Five‑suite configuration supporting retail and medical‑office use; 2,000 SF vacant unit available within the building
